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Global markets: Trade expects Fed rate hike

By Commodity News Service Canada

WINNIPEG, June 13 – The following is a glance at the news moving markets globally.

– The US Federal Reserve is holding its two-day monetary policy meeting this week.

Many market watchers expect officials will raise the country’s interest rates following an announcement on Wednesday, June 14.

– Canada’s net foreign asset position rose by C$75.6 billion in the first quarter to C$247.9 billion, Statistics Canada said in a report on Monday.

The increase in the net asset position reflected the stronger performance of foreign stock markets relative to the Canadian stock market, which pushed the value of Canada’s international assets up by more than liabilities, StatsCan said.

Over the quarter, the US stock market (as measured by the Standard and Poor’s 500) rose 5.6 per cent while the Canadian stock market (as measured by the Standard and Poor’s/Toronto Stock Exchange composite index) increased 1.7 per cent.

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