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Global Markets: TPP deal inked

By Commodity News Service Canada

WINNIPEG, February 4 – The following is a glance at the news moving markets globally.

TRANS-PACIFIC PARTNERSHIP SIGNED BY PARTICIPATING COUNTRIES
The Trans-Pacific Partnership (TPP) was signed by the 12 member countries on Thursday.

The participating countries met in New Zealand to ink the deal, but many years of negotiations lie ahead.

The TPP covers 40 per cent of the world’s economy.

US JOBLESS CLAIMS GAIN
US jobless claims gained in the week ended January 30, according to the country’s labour department.

Analysts say the increase could indicate economic slowdown.

US jobless claims increased by 8,000 to a seasonally adjusted 285,000 for the week ended January 30.

BANK OF ENGLAND EXPECTS SLOWER GROWTH
The Bank of England has cut its growth forecast, according to reports out of the country.

The bank expects gross domestic product to gain by 2.2 per cent in 2016, compared with the 2.5 per cent predicted in December.

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