There’s a lot of economic uncertainty causing investors to press pause across the globe. World stocks are slumping as disappointing economic reports continue to roll in. The ECB is expected to keep it’s interest rate status quo today, following a similar decision by the Bank of Canada.
And the US is struggling with disappointing data on trade and the labour market. Amazon has added to woes as well, after the company announced plans to shut down all of it’s pop-up shops across the US, showing its ongoing struggle with brick-and-mortar strategies. The news tanked Amazon shares.
The price of crude is gaining again as investors play a bit of ping-pong with which oil-related news to focus on. Currently the OPEC cuts and Venezuela sanctions are keeping the attention of investors, helping US crude to gain to 56.87 a barrel.
The Loonie is pulling out of it’s recent rut, to push to 74.94 cents US.