The Pituffik Space Base (formerly Thule Air Base) in Greenland Global markets faltered as fresh tariff threats from U.S. President Donald Trump reignited fears of a renewed trade clash between Washington and key European partners. The announcement targeted several EU nations and immediately sent shockwaves through equities, currencies, and commodities. European stocks opened sharply lower, with export‑heavy sectors—particularly autos, luxury goods, and industrials—bearing the brunt of the selloff. Major multinational firms saw billions wiped from their market value within hours as investors braced for potential retaliatory measures from Brussels. The proposed tariffs, set to begin at 10% and potentially rise to 25% later in the year, stem from escalating geopolitical disagreements that have st...
Canada’s Inflation Rate Eases to 2.7% in June
Canada’s annual inflation rate cooled to 2.7% in June, according to Statistics Canada. This figure came in slightly lower than financial industry consensus expectations. Here are the key points:
- Monthly Basis: The Consumer Price Index (CPI) decreased by 0.1% in June.
- Grocery Prices: While overall inflation eased, grocery prices continued to rise.
- Interest Rate Implications: The Bank of Canada will closely scrutinize these figures as it prepares for its next interest rate decision on July 24.
This decline in inflation follows a period of higher rates during the pandemic. The current rate is nearing the Federal Reserve’s target, signaling a potential stabilization.
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