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Justin Trudeau Wins Canada’s General Election | Canada Retail Sales Decline

Published October 22, 2019

  • Canadian Prime Minister Justin Trudeau has won a second term in Canada’s federal elections, securing enough seats to form a stable government with support from smaller parties. However, falling short of a majority meant the Liberals would have to rely on an opposition party to pass legislation.
  • The Canadian dollar has slightly weakened against the greenback this morning and is trading lower at 1.3110 levels. The data published by Statistics Canada on Tuesday revealed that retail sales in Canada contracted by 0.1 percent monthly in August against the market expectation of +0.4 percent.
  • President Donald Trump said in Washington that their work towards ending the United States-China dispute was going well. They are likely to seal the mini deal which he announced earlier this month.
  • Prime Minister Boris Johnson will try again today to get the first stage of withdrawal bill through Parliament after he failed to get a vote on his Brexit deal. If the House of Commons votes in favor of the deal, then a transition period that last until 31st December 2020 would begin, however, If the deal gets rejected, then there is a possibility of an early UK election.