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Good morning! Today I take over the hallowed tradition of writing The Daily Chase. I follow in the footsteps of former and current colleagues, and with each new writer, comes a new style. If you enjoy it, please get in touch on Twitter or Instagram @BayStreetAmber. If you don’t, please tweet the @BNNBloomberg account of which I have no access. And of course the assignment begins the first day of a shortened week on both sides of the border, with the U.S. markets closed today.
to lower oil production amidst a sluggish demand backdrop. This was announced over the weekend and yesterday oil traded below US$70. But on second thought, today, oil is moving higher on confidence these production cuts put some sort of floor under oil.While it may be a slow start to the trading week, it will end on a feverish note with job numbers on both sides of the border. In Canada, we are expecting job growth to resume and about 20,000 new jobs to have been added in June.
Members of the International Longshore and Warehouse Union walked off the job on Saturday. The longer this goes on, the more damage to the economy and to supply chains. Estimates suggests $1 billion a day in trade is at risk.
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