Compiled by Glen Hallick, MarketsFarm
WINNIPEG, June 30 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– Just as Canadians prepare to mark the country’s 155th anniversary, Statistics Canada said on Thursday that preliminary data pointed to the country’s economy shrinking 0.2 per cent in May. That would be a half point reversal from April, when the economy grew 0.3 per cent. The report noted April saw the arts, entertainments and recreation sector expand by seven per cent, with the accommodation and food services climbing 4.6 per cent. Also that month, oil and gas extraction rose 3.9 per cent with mining and quarrying up 3.3 per cent. The federal agency will have its complete look at May when its next report comes out July 29.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– There will be another election in Israel after the Knesset voted to dissolve itself on Thursday, as the eight-party coalition led by Prime Minister Naftali Bennett fell apart after one year in power. Foreign Minister Yair Lapid was named as the caretaker prime minister until the elections are held on Nov. 1. This will be the fifth time in less than four years that voters in the Middle East country will go to the polls.
– Cryptocurrency Bitcoin is on track to post its worst quarter since 2011, according to reports. Bitcoin, the world’s largest cryptocurrency, has lost 58 per cent of its value during recent months. Some financial analysts suggested on Thursday that Bitcoin will soon hit its cyclical low. Other cryptocurrencies such as Avalanche and Polygon have been sliding downward as well, which led them to halting withdrawals by their clientele.
