MID-DAY: Stats Can reports unexpected job loss in May; Trump Twitter tirade targets G7 members
Trade threats coming from Donald Trump are causing more uncertainty with investors.
As the G7 Summit kicks off today, reports say Trump has alluded to pulling out of the NAFTA agreement and moving to bilaterally agreements with Canada and Mexico. The US President has gone on a Twitter tirade accusing Canada of targeting the American agriculture industry and claiming to look forward to straightening out unfair trade deals at the summit.
The Loonie is down 76.77 cents US following a dismal job report from Stats Can. Analysts were surprised to find the job market shed over 7,000 positions in May, as many estimates were expecting a gain of over 22,000.
Cannabis stocks are at the forefront after Canada’s senate approved a legalization bill, which will be reviewed by the Liberals.
On Bay Street, the TSX is gaining again, up to 16,192 and across the border the Dow is growing to 25,241.