Global Markets: three missiles fired at U.S. embassy in Iraq

By MarketsFarm

WINNIPEG, Jan. 27 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.

– At least one person has been wounded after three missiles were fired at the United States embassy in Iraq on Sunday night. The attacks, which occurred in a fortified Green Zone, note a marked escalation in tensions in the region. No country has claimed responsibility for the attacks yet, but Washington has blamed Iran-back military activity in Iraq.

– Oil futures hit their lowest prices in over three months due to fears that China’s outbreak of a deadly coronavirus will hamper demand. Parts of China have been quarantined in an attempt to hamper the spread of the virus, but more cases have been reported in other parts of the world. Goldman Sachs Group Inc. has predicted global oil demand may fall, but Saudi Arabia believes the crisis will have “a very limited impact on consumption,” according to Bloomberg.

– The United Kingdom will no longer be a member of the European Union on Jan. 31. However, the U.K. will then enter an 11-month long transition period, during which they will negotiate a new relationship with the EU. Jan. 1, 2021, is the first official day “outside of EU rules,” according to The Guardian.

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