By Glen Hallick
Glacier Farm Media MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- After four years of construction, the Trans-Mountain oil pipeline expansion is set to officially open on Wednesday. The project increased the pipeline’s capacity to 890,000 barrels per day from 300,000, making far more Canadian oil available for oversea exports. The project reportedly cost C$34 billion which originally saw the federal government purchase the pipeline for C$4.5 billion in 2018.
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By Glen Hallick Glacier Farm Media | MarketsFarm – The following is a glance at the news moving markets…
- The United States Federal Reserve is scheduled to make its next interest rate announcement at 3 pm CDT Wednesday. Near unanimous analysts’ expectations are for the Fed to hold their key interest rates, due to the difficulty in pushing U.S. inflation down further. Fed chair Jerome Powell will speak at a news conference 30 minutes after the rate announcement.
- While U.S. secretary of state Anthony Blinken reiterated on Wednesday there should be “no delays, no excuses” in reaching a ceasefire deal between Israel and Hamas, Israeli prime minister Benjamin Netanyahu stated his country’s forces will still push into Gaza’s southern city of Rafah. That drew a comment from United Nation’s secretary-general Antonio Guterres that such a military assault would be an “unbearable escalation” for civilians.
- Violence continued to dominate demonstrations across the U.S. on Wednesday, as pro-Israeli and pro-Palestinian protestors clash with each or with law enforcement. Reports said more than 1,000 people have been arrested on 25 campuses. Similar demonstrations have taken hold around the world, with a number having turned into chaos.
