By Commodity News Service Canada
WINNIPEG, November 12 – The following is a glance at the news moving markets globally.
US JOBLESS CLAIM DATA SITS UNCHANGED
Applications for unemployment benefits by US citizens were unchanged for the week ended November 7, the country’s labour department said on Thursday.
Initial claims or benefits sat around 276,000, which analysts say is consistent with a healthy labour force.
COMMODITY PRICE INDEX DOWN 20 PER CENT FROM 2014
Commodity prices saw a drastic deprecation in early 2015, according to a report from Statistics Canada on recent developments in the Canadian economy.
Energy prices provided a period of upward support in April and May, but declined on lower prices for energy, metals, and minerals during the summer months, the report said.
According to StatsCan, in September, the commodity price index was down 20 per cent from its level at year end 2014, and down 45 per cent from its recent peak in June of that year.
JOBS, CONSUMER SPENDING AFFECTED BY LOWER CRUDE OIL PRICES
Lower oil prices resulting in job loss in Houston and Lubbock have affected consumer spending in Texas.
New data noted weakness in the reported third-quarter earnings of companies like hotels, restaurants and auto retailers.