Glacier FarmMedia COVID-19 & the Farm

Global markets: US jobless claims increase

By Commodity News Service Canada

WINNIPEG, November 3 – The following is a glance at the news moving markets globally.

– The number of people filing for unemployment benefits in the US moved to a three-month-high in the week ending October 29. Claims increased by 7,000 to a seasonally adjusted 265,000, data out of the country says. The news gave a slight lift to the Canadian dollar in early activity, which is bearish for the country’s commodity markets, like canola.

– Canada’s transport minister, Marc Garneau, has said railways will soon be required to put audio and video recorders in the cabs of trains in order to improve safety, reports say. The improved safety measures were taken after an oil tanker killed 47 people in Lac-Megantic, Quebec. It is not yet clear if the cost of the equipment will be fielded by the railways, and whether that cost will be passed on to the farmer.

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