Global Markets: Liberals take another hit following SNC-Lavalin

By MarketsFarm

WINNIPEG, March 21 (MarketsFarm News) – The following is a glance at the news moving markets in Canada and globally.

– Canada’s Liberal government continues to be mired in controversy following the SNC-Lavalin affair. Celina Caesar-Chavannes, MP from Whitby, Ontario, has quit the Liberal caucus and will sit as an independent. Caesar-Chavannes is the fifth Liberal member to distance herself from the party since early February. “I think it’s important to understand that while I support the values and principles of the Liberal Party, that it might be good, since that message did go out, that I sit as an independent for the rest of the term that I’m here,” she told CBC News. Caesar-Chavannes will not stand for re-election in October.

– United States unemployment levels fell more than expected last week, according to reports. Approximately 9,000 fewer Americans claimed unemployment benefits than originally predicted for the week of March 16. A tight labour market and a low unemployment rate contributed to this, despite softening economic growth.

– United Kingdom Prime Minister Theresa May has arrived in Brussels to meet with the European Council to push for a three-month Brexit delay. May’s government plants to put it to another vote next week. “What matters is that we recognize that Brexit is the decision of the British people. We need to deliver on that,” May said.

– Oil priced edged lower on Thursday, though held near 2019 highs. OPEC production cuts and continued U.S. sanctions against Iran and Venezuela contributed to tight global stocks. Experts surmised prices haven’t shot up because of prolonged trade negotiations between the U.S. and China.

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