Weekly Economic Update

For the week of January 7 – 11

Markets continue to react in anticipation of news from ongoing trade conversations between the United States and China. The United States has mentioned the conversations have been going well over the past couple of days, and the two countries should be able to reach what they call a “reasonable” deal. A deal between the two countries would come as a great relief to most, especially following the negative release by Apple, who pointed a finger primarily at China for recent weakness in sales figures.

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The President of the United States Donald Trump will be addressing American citizens today with the hopes of convincing many on the dire need of a border wall between the United States and Mexico. The lack of funding for the wall over the past two weeks (approximately 5 billion dollars) has led to a partial government shutdown in the United States. Trump has threatened this shutdown could continue to last months, or even years.

Canadian markets will see a release for international merchandise trade this morning, and housing starts figures on Wednesday.

The Canadian dollar is currently trading up against the US dollar. Today’s expected range is 1.3230 – 1.3330.

Source: Bloomberg

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