Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- The ongoing war in the Middle East showed no signs of easing on Thursday, with continued attacks from both sides. Iran’s new Supreme Leader Mojtaba Khamenei issued his first statement since the start of the war but did not appear on camera. He said attacks on neighbouring countries will continue, promised retaliation for every Iranian death, and called on other Arab nations to shut down United States bases on their territory.
- Crude oil was rising on Thursday, topping US$100 per barrel in the Brent crude futures, as the Strait of Hormuz remained closed to traffic the latest attacks included strikes on two oil tankers in Iraqi waters.
- Canadian merchandise exports were down by 4.7 per cent in January while imports dipped by 1.1 per cent, reported Statistics Canada. That caused the country’s merchandise trade deficit to widen to C$3.6 billion from C$1.3 billion the previous month.
- In other Canadian economic data, wholesale sales (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) fell one per cent in January at C$85.2 billion. StatCan also reported the value of building permits increased by 4.8 per cent to C$13.3 billion in January.
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