By Commodity News Service Canada
WINNIPEG, December 15 – The following is a glance at the news moving markets globally.
MARKETS POSITION AHEAD OF US FEDERAL RESERVE MEETING
Members of the US Federal Reserve will be meeting on Wednesday—many market watchers expect the Fed will raise interest rates before the end of the year.
If the Fed does boost rates, for the first time since 2006, the US dollar will likely gain ground, pressuring other currencies.
INDIA, BRAZIL TO DISCUSS FARM SUBSIDIES AT WTO MEETING
India and Brazil (among other nations) will be meeting with the World Trade Organization to make their case about the inequality of farm subsidies in other nations.
Trade and commerce ministers will be meeting from December 15 to 18 in Nairobi, Kenya.
According to reports, the nations feel that farm subsidies in wealthy countries reduce market access and distort trade.
CANADA’S NATURAL GAS TRANSPORTATION AND DISTRIBUTION INCREASES
Natural gas utilities received 12.3 billion cubic metres of total marketable gas in October, up 2.7 per cent from the same month in 2014 and the seventh consecutive year-over-year increase, Statistics Canada said in a report on Tuesday.
According to StatsCan, gas utilities sold 6.2 billion cubic metres of natural gas in October, up 3.2 per cent. Meanwhile, revenues were down 26.7 per cent from 12 months earlier to C$957.3 million. Low prices have continued the trend of depressed natural gas revenues.