The Daily Chase: Loonie at the mercy of U.S. dollar’s strength; Oil tumbles
BNN Bloomberg
Looking at the Canadian dollar at face value, you wouldn’t know we’re on the eve of what’s expected to be a monster hike by the Bank of Canada.
MARKET WATCH
The dreary mood in markets is extending into today, with major overseas indices and U.S. futures falling. Same old concerns about inflation, economic growth, and COVID in China dominate. Notably for our purposes, the price of West Texas Intermediate crude has been down as much as 5.47 per cent (to US$98.40) in early trading — and that’s despite a warning from the head of the International Energy Agency that “we might not have seen the worst of the [energy crisis] yet.” And while the ramp-up in U.S. earnings season is still a few days away, PepsiCo surprised to the upside this morning — beating profit and revenue expectations, and boosting its full-year revenue-growth forecast.
FEDS PRESS TELCOS IN WAKE OF ROGERS OUTAGE
