Global Markets: U.S., Russia summit scheduled for Helsinki

By Commodity News Service Canada

June 28 (CNS Canada) — The following is a glance at the news moving markets in Canada and globally.

– U.S. President Donald Trump and Russian President Vladimir Putin plan to meet in Helsinki, Finland, July 16 in attempts to smooth over simmering relations between the two. The White House and Kremlin announced the meeting earlier today. The summit comes as relations between the U.S. and Russia are at the lowest since the Cold War.

– The Chinese yuan has hit a new six-month low compared to the U.S. dollar causing investor nervousness and speculation China may be allowing the yuan to fall to place it in a better position in the event its trade issues with the U.S. worsen. A lower yuan would make Chinese goods cheaper on international markets.

– Most Canadians want marijuana legalization delayed while federal and provincial governments figure out how to deal with potential problems, a new poll suggests. Recreational cannabis is set to become legal Oct. 17. According to the poll carried out by Dart Insight earlier in June, 55 per cent of Canadians want the legalization delayed and 69 per cent worry the new law will do little to eliminate the black market for marijuana because legal cannabis will cost more.

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