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Global Markets: Canada’s unemployment rate and trade deficit drop

By Commodity News Services Canada

WINNIPEG, Nov. 2 (CNS Canada) – The following is a glance at the news moving markets in Canada and
globally.

– Canada’s unemployment rate dropped to 5.8 per cent as employment increased by 11,200 jobs and the labour force shrunk by 18,200 people. The unemployment rate matches the same rate obtained earlier this year, which was a four-decade low.

– Canada incurred a trade deficit of C$416 million in September. This is down from August’s revised C$551 million trade deficit, which initially had been a C$526 million trade surplus. In September, Canada’s exports fell slightly by 0.2 per cent as imports were bumped up by 0.4 per cent.

– After speaking with Chinese President Xi Jinping by phone Thursday, United States President Donald Trump has asked his cabinet to prepare a potential trade deal with China. Trump said his conversation with Xi was “long and very good.” This signals a possible cease-fire in the ongoing trade dispute between the world’s two economic powerhouses.

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