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Canada’s Jobless Rate Expected This Morning; Trouble In Turkey

Today’s focus will be on Canada’s jobless rate as Stats Can is set to release July’s employment numbers.  It isn’t expected to be earth shattering news as estimates suggest about 15,000 jobs were created last month.  But, it could be an indicator of whether the Bank of Canada will increase interest rates next month.

World markets are down about 1.5-percent as investors watch Turkey’s economic freefall.  The countries lira dropped 10-percent this morning and throughout the Eurozone investors are backing off fearing exposure to the Turkish bond market and devaluation.

Dow Jones futures are also weak this morning off by 115 points.

It was a positive day on Bay Street yesterday with help from bank stocks. The TSX finished up 102 points to 16,416.

The Canadian dollar is down to $0.7639 U.S. and oil is up $0.18 to $66.99 a barrel.

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