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Global Markets: Canada backs Venezuelan opposition

By Commodity News Service Canada

WINNIPEG, Jan. 24 (CNS Canada) – The following is a glance at the news moving markets in Canada and globally.

– Venezuelan opposition leader Juan Guaido has declared himself interim president of the South American country as protesters took to the streets this week in an effort to oust current president Nicolas Maduro. Canada, the United States, and numerous other countries have backed Guaido’s claim. However, Russia and other nations have criticised outside influence on Venezuela’s internal politics and remain supportive of Maduro.

– Canada Pacific Railway Ltd. saw revenues increase by 17 per cent in the fourth quarter of 2018, with increased movement of oil, grain, and other commodities behind the rise. However, net earnings were still down 45 per cent from the same quarter the previous year, at C$545 million.

– United States President Donald Trump announced via tweet that he will postpone his state of the union speech until the end of the government shutdown. The U.S. Senate is set to vote on two competing proposals on Thursday that could see an end to the month-long partial shutdown. However, there is little optimism that the votes will actually see the desired result, as the Democrat sponsored legislation does not include border-wall funding and would likely be rejected by President Donald Trump. Meanwhile, the other proposal that would exchange renewed protections for immigrants in exchange for wall funding is not expected to be supported by Democrats.

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