International Markets Cause For Concern

Published 10/08/2015, 09:05 AM
Updated 05/14/2017, 06:45 AM

The rise of crude oil prices lasted for four days. Higher reserve and production levels in the United States cooled the optimism of investors regarding an eventual drop in crude oil production. By the end of the session, the price per barrel had fallen by 1.48%, dragging the loonie down with it.

Today, we are awaiting the release of several major economic indicators on both sides of the 49th parallel. In Canada we will have Housing Starts, while in the U.S. we will have the latest FOMC Meeting Minutes (September 16 and 17 meeting). The day after the IMF issued warnings regarding China’s economic situation, it will be especially interesting to read the comments of FOMC members regarding international market uncertainty. In fact, this morning the Bank of England referred to these international pressures when explaining why it kept its key rate unchanged.

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