BEFORE THE BELL: US Chinese trade tensions easing; Aurora Cannabis grows weed empire with new deal worth billions
The US is easing trade tensions with one country and escalating them with others. President Trump has vowed to help Chinese tech company ZTE get back to business as it was hit hard by the recent US ban on Chinese tech. This ties into ongoing trade negotiations between China and the US which continue this week.
But, experts say more trade turmoil could be in the near future as the US threatens sanctions against European countries still aligning with Iran.
This morning, oil prices have backed down from a rally last week as US production is growing to make up for a possible cut from Iran, which makes up about four per cent of the global crude need. The price of US crude has gained slightly to 70.85 a barrel.
The Loonie is up to 78.32 cents US ahead of Stats Can reports on retail and inflation this week.
Canadian company Aurora Cannabis continues to expand its weed empire as it is reportedly buying MedReleaf for $3.2 billion. Experts say Aurora will now be able to produce 570,000 kilos of recreational marijuana each year with facilities in Canada and Denmark.