By Commodity News Service Canada
WINNIPEG, July 28, CNS Canada) – The following is a glance at the news moving markets in Canada and globally.
– The latest attempt at dismantling the US Affordable Care Act (Obamacare) failed Friday morning, as three Republican Senators joined the Democrats in voting 49 to 51 to reject the so-called ‘skinny repeal’ bill. The US dollar dropped sharply in reaction to the news.
– The US economy saw gross domestic product increase at an annual rate of 2.6 per cent in the second quarter, the country’s Commerce Department announced Friday. The growth compares with the revised reading of only 1.2 per cent the previous quarter.
– Canada’s GDP was up 0.6 per cent in May, marking the seventh straight monthly increase, according to Statistics Canada. Average pre-report estimates had only been for an increase of 0.2 per cent.