Glacier FarmMedia COVID-19 & the Farm

Global Markets: Chinese trade data disappoints

By Commodity News Service Canada

WINNIPEG, March 8 – The following is a glance at the news moving markets globally.

CRUDE OIL CLIMBING
Brent crude oil prices in England hit their highest levels in three months on March 8, as expectations mount that major producers may be working towards a coordinated approach to capping production.

CHINA EXPORT DATA DISAPPOINTS
Chinese exports were down 25.4% in February compared to the previous year, according to a report out of the country. Imports were also down, falling 13.8%. The decline was the biggest in over six years, but analysts said the early timing of the Lunar New Year may have played a part, with numbers expected to improve in March.

EU/TURKEY REACH TENTATIVE REFUGEE AGREEMENT
Turkey and the European Union have reached a tentative deal that would see thousands of Syrian refugees returned to Turkey.

VALUE OF CANADIAN BUILDING PERMITS DROPS
The value of building permits issues in Canada fell 9.8% in January compared to the previous month, according to Statistics Canada data. The drop was much larger than analyst expectations.

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