A look at the morning’s market action
, although traders are divided on whether the central bank will hike by a quarter or half percentage point.
On Tuesday, Canadian investors will get international trade figures for October before the start of trading. RBC chief currency strategist Adam Cole says he expects this country’s trade surplus to widen as increased oil prices boosted the energy trade balance. The day range on Brent was US$82.55 to US$83.69 in the predawn period. The range on West Texas Intermediate was US$76.59 to US$77.88.
Reuters reports that G7 nations set a top price of US$60 a barrel on Russian crude, aiming to limit Moscow’s ability to finance its war in Ukraine. The price cap comes on top of the EU’s embargo on imports of Russian crude by sea.
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