Compiled by Glen Hallick, MarketsFarm
WINNIPEG, Sept. 2 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
– The United States economy was bolstered by the addition of 315,000 jobs in August, according to the Department of Labor on Friday. This followed the addition of 528,000 jobs in July. Despite the gains, the U.S. unemployment rate rose from 3.5 per cent in July to 3.7 in August. However, there remained concerns the U.S. economy could slide into a recession, spurred on by rising interest rates being used to curb inflation.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
– In a televised address on Thursday evening, U.S. President Joe Biden targeted the far-right elements that make up the ‘Make America Great Again’ movement. As the campaign for the mid-term elections heats up, Biden stated, “that the Republican Party today is dominated, driven and intimidated by Donald Trump and the MAGA Republicans, and that is a threat to this country” and warned democracy is threatened by them. In response, House Minority Leader Kevin McCarthy claimed the president had “severely wounded America’s soul.”
– Argentine Vice-President Cristina Fernandez de Kirchner narrowly avoided being assassinated on Thursday when the gunman’s weapon was said to have jammed. Police reported they apprehended a 35-year-old Brazilian man and were attempting to establish a motive. Kirchner, who was the country’s president from 2007 to 2015, was leaving court where she is facing corruption charges, where she denies the allegations against her.
– The Japanese yen dropped to its weakest level against the U.S. dollar in nearly a quarter century. The greenback is said to be worth 140 yen in European trading on Thursday. In March, it took 115 yen to make a U.S. dollar. Analysts pointed to rising inflation and interest rates, as well as Japan’s dependency on imports.
