BEFORE THE BELL: North American markets boosting despite G7 drama; US Feds decide on interest rate this week
Despite escalating tensions between world leaders, investors are still feeling optimistic.
Analysts say that sentiment is showing in the markets this morning as both Bay Street and Wall Street are expected to move up at the open. This comes after Donald Trump continued to rattle many leaders, mostly Justin Trudeau, with his harsh tweets threatening more trade sanctions. But, experts say this could be a good thing for the world markets for now as policymakers in the US may be more cautious when talking about changes to the interest rate on Wednesday. The Federal Reserve is expected to raise the rate during the mid-week meeting.
Oil prices could speed up the downward trend as Russia and the US prepare to ramp up production to offset losses from other crude sources like Venezuela. The price of US crude is falling this morning, down to 64.98 a barrel.
The Loonie is slipping as well to 76.96 cents US.