Canada Has Already Set Record For Area Burned In One Season; Canada Expects Higher-Than-Normal Fire Activity In July, August
Portfolio Pulse from Happy Mohamed
Canada has already set a record for the area burned in one fire season and expects higher-than-normal fire activity in July and August, according to Reuters. The ETF EWC, which tracks Canadian stocks, may be affected by this news.
July 06, 2023 | 3:05 pm
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NEGATIVE IMPACT
The ETF EWC, which tracks Canadian stocks, may be negatively impacted by the record-breaking fire season in Canada and the expected higher-than-normal fire activity in the coming months.
The ETF EWC tracks Canadian stocks and therefore, any significant events in Canada, such as the record-breaking fire season, can have an impact on the ETF. The expected higher-than-normal fire activity in the coming months could further negatively impact the ETF as it could affect the Canadian economy and, in turn, the stocks that the ETF tracks.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100