WINNIPEG, April 17 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.
– Reports indicate that the U.S. trade deficit fell to an eight-month low in February, thanks to imports from China plunging. The report also implied that economic growth was much stronger in the first quarter than initially predicted. In total, the sensitive goods trade deficit with China decreased 28.2 per cent to US$24.8 billion in February, as U.S. exports to China increased by 18.2 per cent.
– Statistics Canada released reports indicating that Canada’s annual inflation rate rose last month, among rising prices for fresh vegetables, mortgage interest, and auto insurance. Canada’s consumer price index increased 1.9 per cent in March, in line with economists’ expectations. Compared with 2018 numbers, Canadians paid 15.7 per cent more in March for fresh vegetables, 8.1 per cent more for mortgage borrowing costs, and 5.6 per cent more for car insurance. The Bank of Canada will announce if they will raise interest rates later on Wednesday.
– Wall Street experts are expecting returns to all-time highs on Wednesday after data from the Chinese economy eased worries of a global economic slowdown. “Beijing will now be in a wait and see mode to gauge whether it has done enough,” said Neil Dwane, strategist and portfolio manager for Alianz Global Investors, to Reuters.