Compiled by MarketsFarm
WINNIPEG, Aug. 17 (MarketsFarm) – The following is a glance at the news moving markets in Canada and globally.
- Officials in the Northwest Territories ordered the evacuation of Yellowknife on Wednesday, giving the approximately 22,000 people in the city until noon Friday to leave. A wildfire closed within 17 kilometers Yellowknife, and another wiped out 90 per cent of Enterprise, a town located across Great Slave Lake. Evacuees are to make their way to Alberta. So far this year wildfires have consumed 13.7 million hectares in Canada, far exceeding the 1995 record of 7.1 million.
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Glacier FarmMedia — The following is a glance at the news moving markets in Canada and globally. United States…
- Although the United States Federal Open Market Committee was unanimous in its decision to see another interest rate hike at its July meetings, some of the members expressed concerns the increases were becoming too much for the country’s economy. The minutes were released on Wednesday, showing the majority believed inflation posed the greater threat. In response to the committee’s decision, the U.S. Federal Reserve raised its key rates to 5.25 to 5.50 per cent.
- Japan reported on Thursday that its exports fell 0.3 per cent in July, for the first drop in about two and a half years. However, the decline came in smaller than the 0.8 per cent fall analysts predicted. Nevertheless, July marked a turnaround from a 1.5 per cent increase in June. Japan has the world’s third largest economy, behind the U.S. and China.
- An invasion of Niger could soon be in the cards as the Economic Community of West African States stated 11 of its 15 members are ready to participate in a military operation to oust the leaders of last month’s coup d’état. However, the group saw the military regimes of Burkina Faso, Mali and Guinea cite concerns over an intervention. Cape Verde also said it wouldn’t participate in an invasion of Niger.
