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Global markets: Chinese trade data pressures markets

By Commodity News Service Canada

WINNIPEG, October 13 – The following is a glance at the news moving markets globally.

CHINA’S TRADE DATA DISAPPOINTS
China’s exports dropped 10 per cent from year-ago levels in September, according to reports out of the country on Thursday.

Imports were also sluggish during the month, market watchers say. The news sent the country’s currency, the yuan, to a six-year-low.

The news also had a bearish effect on crude oil prices and a basket of other currencies.

GERMAN COURT APPROVES TRADE DEAL
Germany’s Constitutional Court has given the government permission to approve a trade deal between the European Union and Canada.

Further discussions between government officials are still pending.

CANADIAN NEW HOUSING PRICES UP IN AUGUST
The New Housing Price Index (NHPI) rose 0.2 per cent in August compared with July. While prices were up in eight census metropolitan areas, the increase was largely attributable to new housing prices in the combined region of Toronto and Oshawa, Statistics Canada said in a report on Thursday.

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