Global markets: Brazilian president to face trial

By Commodity News Service Canada

WINNIPEG, May 12 – The following is a glance at the news moving markets globally.

BRAZIL PRESIDENT FACES CHARGES
Brazil’s president, Dilma Rousseff, will face trial for alleged corruption and breaking budget rules, according to reports on Thursday.

Rousseff is expected to release a statement later today.

US JOBLESS CLAIMS AT ONE-YEAR-HIGH
US jobless claims in the week ended May 7 increased 20,000 to a seasonally adjusted 294,000, according to reports on Thursday.

That’s the highest level since February 2015, analysts say.

CANADIAN NEW HOUSING PRICES UP IN MARCH
Canada’s New Housing Price Index rose 0.2 per cent in March, following an identical increase in February. The index has increased for 12 consecutive months, largely driven by higher new housing prices in Ontario and British Columbia, Statistics Canada said in a report on Thursday.

Of the metropolitan areas covered by the index, the top contributors to the national increase in March were the combined region of Toronto and Oshawa, which gained 0.4 per cent, and Vancouver, at 0.4 per cent. Builders in both regions cited market conditions as the main reason for the advance, StatsCan said.

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