A look at Tuesday morning’s market action
futures edged higher early Tuesday morning as traders return to work after the long weekend. Major European markets steadied after a mixed start.
“After a slight hiccup the prior month, we expect job creation [in Canada] to have resumed in June,” National Bank economists said. Ahead of those reports, markets will get the minutes from the most recent Federal Reserve meeting on Wednesday. Canadian investors will get housing data this week with Vancouver and Calgary home sales due today followed by figures for Toronto on Thursday.
Earlier this week, Saudi Arabia said it would extend its voluntary output cut of 1 million barrels per day to August, while Russia and Algeria volunteered to lower their output and export levels for August by 500,000 bpd and 20,000 bpd respectively, Reuters reported.
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