BEFORE THE BELL: Investors focused in on drooping Chinese economy; Bank of Canada announces interest rate decision today
Investors are taking a more cautious tone as China’s economy continues to struggle. Even Beijing’s injection of cash into the country’s economy is being shrugged off by investors, who choose to focus on the impacts of the long-running trade war between the US and China. That could all come to an end at the end of the month if Donald Trump follows through on reports he will sign off on a deal soon.
Meanwhile the price of crude is slipping as once again US producers stockpile the product. US oil is down to 56.13 a barrel.
Ahead of a new Bank of Canada announcement on interest rates, the lowly Loonie is slipping further to 74.75 cents US.