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Global markets: US housing starts down

By Commodity News Service Canada

WINNIPEG, April 19 – The following is a glance at the news moving markets globally.

US HOUSING STARTS DROPS IN MARCH
US housing starts were down a seasonally adjusted 8.8 per cent in March, after 6.9 per cent growth in February.

Future home construction moved to a one-year-low, according to reports on Tuesday.

Analysts say the data shows a weakening housing market due to a slower first quarter.

KUWAIT OIL PRODUCTION DROPS AS WORKERS STRIKE
Kuwait’s oil production has dropped for the third day in a row, as workers protest a public sector pay reform.

The country’s production has been cut by slightly more than half, market watchers say, but expect the reduction to be short-lived.

PANAMA TO ADOPT INTERNATIONAL TAX STANDARDS BY 2018
In order to prevent illegal use of Panama’s financial systems, the country will adopt international tax reporting standards, according to reports on Tuesday.

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