Published: 3 hours ago
By Glen Hallick
Glacier FarmMedia | MarketsFarm – The following is a glance at the news moving markets in Canada and globally.
- Four commercial vessels travelling to or from Iran passed through the Strait of Hormuz without repercussions on Tuesday, after United States President Donald Trump ordered a blockade of Iranian ports. Trump imposed the blockade after weekend talks with Iran in Pakistan failed to reach an agreement. The Chinese Foreign Ministry said the blockade is “dangerous and irresponsible behaviour.”
- The International Monetary Fund warned on Tuesday that the Middle East war could push the global economy into a recession. Should oil, gas and food prices continue to spike and remain high for the next two years, global economic growth might fall below two per cent.
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- Canadian Prime Minister Mark Carney secured a narrow majority after his Liberal Party won three byelections on Monday. The Liberals now have 174 of the 343 seats in the House of Commons. Carney said his government will now act quickly to push through the Liberals’ agenda while seeking perspectives from the other parties.
- The gap between the rich and poor in Canada became a little bit wider in 2025, Statistics Canada reported on Monday. The income gap, which measures the disposable income of the top 40 per cent households with those of the bottom 40 per cent bumped up to 46.7 per cent from 46.4 per cent in 2024.
- The U.S. Department of Agriculture issued its crop progress report on Monday. For the week ending April 12, soybeans planted were reported for the first time this year at six per cent seeded. Corn planted moved to five per cent done and spring wheat planted reached six per cent finished. Winter wheat rated 34 per cent good to excellent, down one point on the week.
