By Commodity News Service Canada
WINNIPEG, November 9 – The following is a glance at the news moving markets globally.
CHINA RELEASES WEAK TRADE DATA
In October China’s exports fell 6.9 per cent and imports dropped 18.8 per cent, the country’s customs administration said on Sunday.
Analysts expect the data will have a bearish effect in early activity on Wall Street.
BANK OF AMERICA: INTEREST RATE HIKE WON’T AFFECT GLOBAL ECONOMY
The Bank of America gave a list of reasons why a December interest rate increase by the US Federal Reserve will not hurt other economies.
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The bank cited overblown concerns about China and Fed policy boosting economic fundamentals in the past as a couple of key reasons why an interest rate increase won’t be catastrophic.
The statement further fuelled expectations that the country may see an interest rate increase by the end of the year.
BRAZILIAN TRUCKERS STRIKE IN AGRICULTURE HOT SPOT
Independent Brazilian truckers are on strike starting Monday, blocking traffic in key growing areas, according to reports out of the country.
Most of the blockages were in coffee-growing regions. Though this is the second strike the country has seen in 2015, organizers say it is more rooted in politics than the working conditions within the country.
