Global stocks are taking a double hit this morning. The US Federal Reserve is indicating it will move forward with an interest rate hike in December in response to the growth of the US economy. And on the other side of the world, China’s economy is taking a hit as price inflation and car sales are reportedly cooling. This is pushing investors back to safe haven options to end what has been a very positive week for the markets.
The report the US Feds is working against the Loonie as its Greenback counterpart got a major confidence boost. The Canadian currency is down to 75.78 cents US.
Crude is also continuing to slide as production continues to outweigh demand. The price for US oil is down to 59.84 a barrel.