By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Dominic LeBlanc, the federal Minister Responsible for Canada-United States Trade, told the Canadian Press on Wednesday that he believes U.S. President Donald Trump won’t tear up the Canada-U.S.-Mexico Agreement. LeBlanc’s comments came after Trump floated the idea of negotiating new but separate trade deals with Canada and Mexico. CUSMA was signed during Trump’s first term and is up for renewal in 2026.
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By Glen Hallick Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada…
- There isn’t to be as much demand for oil in 2026 as previously thought, the International Energy Agency said in its December forecast released on Thursday. The Paris-based IEA said supply is to exceed demand by 3.84 million barrels per day, down from its November projection of 4.09 million. In the IEA’s first reduction since May, it cited a stronger global economy and lower supply from sanctioned oil-producing countries among the reasons for its projection.
- U.S. Coast Guard and Navy forces seized the Skipper, an oil tanker operating in international waters off of the coast of Venezuela on Wednesday. Reports said the Skipper was carrying Venezuelan crude oil and a U.S. federal judge issued a warrant for its seizure on allegations of links to terrorists group backed by Iran. The action further heighten ongoing tensions between the U.S. and Venezuela.
- A general strike hit Portugal on Thursday, causing widespread disruptions in transportation, hospitals, schools and other public services. The job action was taken after the Portuguese government proposed 100 changes to the country’s labour laws, including making it easier to fire people. It’s Portugal’s largest strike since 2013.
- The U.S. Federal Reserve cut its key interest rates by 25 basis points on Wednesday, bringing them to 3.5 to 3.75 per cent. It marked the third time in 2025 the Fed reduced its rates. However, Fed chair Jerome Powell said the central bank will carefully examine the impact of the cuts on the U.S. economy to determine if another reduction or rate freeze is required.
