BEFORE THE BELL: US Inflation numbers to be released this morning
Traders will be watching this morning as the US inflation numbers are released. Analysts estimate the rate of inflation has slowed to 1.9 per cent, which could calm investor nerves and bring down market volatility. But, experts warn if the rate is higher than expected it could spark another global sell-off similar to the one that led to the equity bloodbath last week.
Many investors looking for market stability have flocked to the Yen, which is causing turmoil for both the Nikkei and the Greenback. The strength of the Japanese currency weighted the dollar down to a 15-month low at 106.82.
Canada’s currency has also been struggling from market volatility, but is up slightly this morning to 79.50 cents US.
The price of oil is continuing to slide as US production of crude continues to peak. Oil is down 0.41 to 58.78 a barrel.
Gold has mostly stayed away from recent market trends and is up this morning 1.90 to 1,332 an ounce.
TorStar is in trouble. Officials with the media company which oversees a majority of newspaper outlets across the country told the Globe and Mail a move to digital advertising is cutting deep as major social media organizations take the lion’s share of profits. The company has had to continue cutting jobs to save money.