Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally.
- United States President Donald Trump has given Iran an ultimatum, claiming “bad things will happen” if a deal on Iran’s nuclear program is not reached in the next 10 to 15 days. A second U.S. Navy aircraft carrier is enroute to join other U.S. combat ships in waters near Iran, while Iran was conducting military drills earlier this week.
- Crude oil was trading near six-month highs amid the mounting tensions between the U.S. and Iran, while gold climbed above US$5,000 per ounce.
- Retail sales in Canada dipped by 0.4 per cent in December to C$70.0 billion, reported Statistics Canada. Sales were down in three of nine subsectors, led by declines in motor vehicle and parts dealers.
- StatCan also reported the country’s Industrial Product Price Index increased 2.7 per cent in January from the previous month — posting an annual increase of 5.4 per cent. The Raw Materials Price Index increased by 7.7 per cent month over month and was up 8.0 per cent annually.
