As the threat of a trade war is back on the table, traders are waiting to see how investors respond. China has added new tariffs in retaliation against US trade sanctions.
Analysts say it’s a slow start to the first day of April and the beginning of the second quarter of 2018. In the Asian market the Nikkei fell 0.3 per cent after gaining during mid-day, closing at 21,388.
Oil is continuing a rally from last week as the number of US oil rigs has dropped and regional tensions threaten oil supplies from Iran. The price of crude is up to 65.25 a barrel.
The Loonie is gaining this morning to 77.64 cents US ahead of a jobs report coming later this week. Stats Can is releasing numbers on March jobs, which experts believe was up by 20,000. The US jobs report is coming as well, which could show the unemployment rate dropping to its lowest since 2000. This could also have an impact on the future of interest rates in both countries.
Traders are watching Hudson’s Bay Company stocks after the company’s American stores Saks Fifth Avenue, Saks Off Fifth and Taylor & Lord were all hit by credit and debit card breaches. A security firm found details for over 5 million credit and debit cards are being auctioned off on the darknet. The breach may have stretched back as far as last March and the company says most of its Canadian stores may not have been affected.