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Global markets: Trump Jr. in the hotseat

By Commodity News Service Canada

July 12 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– United States President Donald Trump defending his oldest son Donald Trump Jr. today, after the younger Trump released emails showing he sought Russian help to provide damaging information on Hillary Clinton, his father’s main rival in last year’s U.S. presidential election.

– The battle in Mosel’s Old City continues, several days after the Iraqi government declared victory against the Islamic State. Iraqi forces are pushing ISIS militants out the country’s second largest city, but pockets of resistance remain.

– Investors are watching closely today for any news as to how or when the U.S. Federal Reserve will go about reducing its securities portfolio. U.S. Federal Reserve Chair Janet Yellen is appearing before Congress today. The Fed built a US$4.5 trillion portfolio of Treasury bonds and mortgage-backed securities to support a collapsing housing market and keep interest rates low in the period following the 2008 financial crisis.

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