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Global Markets: UAE agrees to freeze oil output

By Commodity News Service Canada

WINNIPEG, Sept. 26 (CNS Canada) – The following is a glance at the news moving markets globally.

UNITED ARAB EMIRATES AGREES TO OUTPUT FREEZE
The United Arab Emirates will back a global deal to freeze or reduce oil production, which would help boost prices for OPEC nations. OPEC countries are meeting in Algeria this week. Crude oil prices were up in early activity Monday.

MARKETS AWAITING US PRESIDENTIAL DEBATE
US Presidential hopefuls Hilary Clinton and Donald Trump are set to meet in their first one-on-one debate Monday evening, ahead of the November 8 election.

TAIWAN BRACES FOR TYPHOON
Typhoon Megi is bearing for Taiwan, which will see financial markets shut down in Taipei, while flights are also being cancelled or rerouted in southern China.

BANK OF ISRAEL HOLDS STEADY ON INTEREST RATES
The Bank of Israel held its key interest rate steady at the record low level of 0.1 per cent in its latest policy decision. However, the country’s economy is showing improvement, and investors expect to see increases in the future.

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