Has oil hit bottom? What you need to know before markets open

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North American futures are falling today as investors worry about the government Reserve pressing ahead with its plan to raise rates of interest this season.

Global markets were lower after a two-day meeting of G20 leaders ended with no new plan to spark global growth.Brent crude futures edged higher on rising hopes the marketplace has bottomed out.Canada\’s current account deficit widened modestly within the fourth quarter from the revised third quarter, as the gap increased substantially in 2015 overall from the year before, data from Statistics Canada showed on Monday. The present account gap increased to $15.38 billion in the final quarter of last year from a $15.31 billion deficit in the third quarter.Investors and also the Fed will look to Friday\’s comprehensive U.S. jobs report for further evidence on if the economy was sufficiently strong to absorb higher rates of interest. Federal funds futures implied traders see a 38 percent chance of the Fed raising rates in June and a 57 percent chance in December, according to CME Group\’s FedWatch program.Shares of Valeant were down 5.8 per cent at US$76.01 premarket after the Canadian drugmaker said its chief executive would return from medical leave, and it delayed the discharge of their quarterly results.

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