By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Soft inflation data out of the United States Wednesday morning raised expectations that the U.S. Federal Reserve will cut interest rates sooner rather than later. The consumer price index was up by 0.3 per cent in April, which compares with the 0.4 per cent growth reported the previous two months. Annual inflation slowed to 3.4 per cent, from 3.5 per cent in March.
- Canadian manufacturing sales were down by 2.1 per cent in March compared to the previous month at C$69.9 billion, according to a report from Statistics Canada. Petroleum and coal products led the move lower, losing 8.0 per cent, while motor vehicle sales were down 7.9 per cent.
- Thousands of people were forced to flee their homes in Fort McMurray, as wildfires neared the northern Alberta town. The evacuation order was issued Tuesday afternoon, with nearly 21,000 hectares of nearby forest on fire.
