Canada’s national elections are underway, with the outcome poised to influence economic policy and market sentiment. The Liberal party, led by Carney, is vying to maintain its grip on power against a strong challenge from Poilievre’s Conservatives. The election occurs amid existing tensions with the United States, further complicated by Donald Trump’s continued rhetoric about Canada’s status. Any shifts in trade policy or international relations could significantly affect Canadian businesses and foreign investments.
Meanwhile, the Australian share market is projected to open positively, mirroring a mixed performance on Wall Street. ASX futures indicate a 0.2% increase, following a session where the S&P 500 was weighed down by major tech stocks like Apple, Amazon, Meta, and Microsoft. Nvidia shares experienced a decline due to reports of Huawei developing competing chip technology. Domestically, Woodside’s $27 billion Louisiana project has reached a final investment decision, and quarterly production reports from mining giants such as Min Res and Fortescue are anticipated.
