Global markets: US Federal Reserve not likely to raise rates

By Commodity News Service Canada

WINNIPEG, June 15 – The following is a glance at the news moving markets globally.

FED LIKELY TO LEAVE INTEREST RATES UNCHANGED, ANALYSTS SAY
Many market watchers expect the US Federal Reserve to leave interest rates unchanged on Wednesday, as officials wrap up a two-day policy meeting.

A mixed US economy and an uncertain economic outlook preceding ‘Brexit,’ the possibility that Britain will leave the European Union are expected to be affecting the bank’s decision.

While the US has seen a string of favourable domestic data, a weak May employment report showed the economy may not be as strong as thought.

CANADA’S MANUFACTURING SALES UP
Manufacturing sales rose one per cent to C$50.4 billion in April, following two consecutive monthly declines. The increase in April reflected higher sales in the petroleum and coal product, transportation equipment, and primary metal industries, Statistics Canada said in a report on Wednesday.

Sales increased in 10 of 21 industries, representing 55 per cent of Canadian manufacturing sales.

In constant dollar terms, sales were up 1.4 per cent, indicating that higher volumes of manufactured goods were sold in April. Prices for the manufacturing sector fell 0.5 per cent, according to the Industrial Product Price Index.

CANADA’S CRUDE PRODUCTION UP SLIGHTLY IN MARCH
Canada produced 19.5 million cubic metres (122.6 million barrels) of crude oil and equivalent products in March, up 0.2 per cent compared with the same month in 2015, Statistics Canada data said.

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