By Phil Franz-Warkentin
Glacier FarmMedia MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- An Israeli strike on a Gazan school providing shelter for displaced Palestinians killed more than 30 people, including 23 women and children, according to reports. The Israeli military said Hamas militants were hiding in the school.
- Canada’s merchandise exports increased by 2.6 per cent in April to C$64.45 billion while imports rose 1.1 per cent at C$65.50 billion, according to a report from Statistics Canada. As a result, the country’s merchandise trade deficit narrowed from C$1.98 billion in March to C$1.05 billion in April.
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- The World Health Organization (WHO) has confirmed the first human fatality from a case of avian influenza A(H5N2) in Mexico. The strain had previously only been reported in birds. The case was first confirmed by Mexican officials on May 23 after the death of a 59-year-old man who had contracted the virus in April.
- The European Central Bank announced its first interest rate cut since 2019 on Thursday, taking its deposit rate to 3.75 per cent – from a record 4.0 per cent.
