Investors are losing their risk appetite as trade war and interest rate worries surface once again. The US-China trade war worries escalated again after US officials claimed they had no plans to sign a trade agreement with Beijing as a new round of tariffs is set to hit China in December. China’s President says they’re hoping to pull back the tension by easing their own trade tariffs and opening access to the Chinese market.
Meanwhile, analysts suggest the bloating US economy is laying the groundwork for another interest rate hike before the end of the year.
Oil prices are still slipping despite new US-sanctions hitting Iran. Experts say the US is still allowing other countries to import Iranian crude for now and OPEC found oil production has been increasing steadily to make up for any loss from the Middle Eastern country. The price of US crude is down to 62.93 a barrel.
The Loonie is gaining to 76.34 cents US.