Depending on who you ask cannabis was, up until recently, one of two things—a medical drug or a laziness-inducing opiate. This all changed when Canada recently announced out of the blue that it’s going to legalise the recreational use of marijuana.
Suddenly, what was once an illegal substance has since become a highly sought-after asset for many professional investors and common folk alike as both attempt to cash in on a multibillion dollar business. But will this industry be here to stay?
Gazing into our crystal ball of global economics we see that the next week will bring us events like the NAB Business Confidence (AUD), ECB Monetary Policy Meeting Accounts (EUR), and Trade Balance (CNY).
Update your trading strategies accordingly—check out the full report for a detailed list of all market-shifting events for the upcoming week.
On Wednesday, the US Federal Reserve hiked the interest rates by a quarter point to 2.25%, a fund target rate not reached since the 2008 economic crisis.
But while we cautiously keep an eye on credit card rates, house prices, and our retirement savings, it’s also worth checking out next week’s potential market shifters, of which there are many: Manufacturing PMI (GBP), Unemployment Rate (USD), RBA Rate Statement (AUD) and more.
Last week, all eyes were set on the upcoming FOMC meeting, with many financial analysts warning that the spreads between short-term and long-term debt rates have shrunk to lows not seen since the infamous 2008 financial crisis.