Global markets: Yellen to discuss upcoming rate hike

By Commodity News Service Canada

WINNIPEG, June 6 – The following is a glance at the news moving markets globally.

YELLEN EXPECTED TO TALK JOB DATA, INTEREST RATE CUTS
US Federal Reserve president, Janet Yellen, will be speaking to the World Affairs Council of Philadelphia on Monday.

Many analysts had expected an upcoming interest rate hike this summer, but last week the US produced some unfavourable jobs data, which could hold back that decision.

The US economy created the lowest number of jobs in more than five years in May, according to data released last week.

Market watchers expect Yellen to address that data, while keeping the possibility of a rate hike open.

CHINA TO SUBMIT LIST OF SECTORS OFF-LIMITS TO US
China is expected to submit a list of sectors that would remain off-limits to US investment, the country’s vice premier said on Monday.

The list is being submitted as part of a US-China bilateral investment treaty.

CANADA’S FARM PRODUCT PRICE INDEX WEAKENS
Canada’s Farm Product Price Index (FPPI) decreased 0.8 per cent in March compared with the same month a year earlier, largely because of falling cattle prices, Statistics Canada said in a report on Monday.

According to StatsCan, this was the second year-over-year decrease in the index in four months, following a growth trend that started in August 2014.

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