Glacier FarmMedia COVID-19 & the Farm

Global markets: Final trading day of 2016

By Commodity News Service Canada

WINNIPEG, December 30 – The following is a glance at the news moving markets globally.

– In the last trading day of 2016, crude oil futures were generally stronger, with investors looking to an OPEC (Organization of the Petroleum Exporting Countries) output production cap set to take place in the New Year.

The commodity-dependant Canadian dollar was stronger against its US counterpart, which advanced on the year, but pulled back against a basket of currencies in the days before 2017.

– OPEC member Angola’s economic growth is expected to remain flat this year, according to reports on Friday. The country has been feeling the effects of steadily declining crude oil prices, data from the International Monetary Fund says.

However, Angola is expected to see growth of 1.25 per cent in 2017, analysts say.

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