Canadian Prime Minister Justin Trudeau praised the European Union on Thursday as an unprecedented model for peaceful cooperation, in a speech to EU lawmakers that contrasted sharply with the critical stance of U.S. President Donald Trump.
Some of the most popular and profitable vehicles sold in the United States by Detroit's automakers are imported from Mexico, a reality that highlights the risks for the auto industry as the Trump administration pushes to overhaul trade policy.
Pacific Rim leaders vowed on Sunday to fight protectionism and Chinese officials said more countries are looking to join a China-led trading bloc after Donald Trump's election victory raised fears the United States would scrap free trade deals.
Apart from Apple’s expected launch of the new iPhone, today’s other big event is the Bank of Canada’s rate decision, due at 15:00 BST (10:00 ET). Along with the consensus forecasts, we do not expect the BOC to make any changes to its policy. Its likely inaction could underpin the Canadian dollar in the short-term, as those who were expecting a rate cut may move to close their bearish positions, leading to a potential short-squeeze rally.
Crude oil prices are struggling on short-term fundamentals, but we continue to get a disturbing outlook for our long-term energy future. Weakness enveloped oil, driving it down for the fourth day in a row on reports of oil disruptions getting back online, yet a report from Rystad Energy says that global oil discoveries fell to the lowest level in 63 years as oil companies slashed spending on oil exploration by the most in history.