Morning Briefing: All eyes on the Fed, well almost

Morning Briefing: All eyes on the Fed, well almost

Morning Briefing: All eyes on the Fed, well almost All eyes on the Fed, well almost
The markets are focused mostly on the Fed which announces its interest rate decision Wednesday and will also give some clues to how future rates may unfold.

That’s not the only focus of investors in this session though as voters in the Netherlands decide on the shape of their new government amid global concern of a rising tide of populism. 

Oil prices are also making headlines with a rebound overnight following industry data from the US showing a larger-than-expected draw on crude stockpiles; government data is due later.

Asian equities closed mostly lower as the main issues were joined by mixed regional data. Sydney and Shanghai were the best performers of the session. China’s premier spoke about the importance of good relations with the US ahead of talks with Donald Trump in April.

European markets are awaiting the Fed but also closely watching the Dutch election. With further regional votes to come, there is concern that the Brexit vote will exacerbate anti-EU feeling which could threaten the bloc’s future. Eurozone employment data is due.

Wall Street and Toronto are expected to open higher. Along with the Fed meeting there is a raft of US data due. Canadian home sales data is due.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

20,837.37 (-0.21 per cent)

+1.09 per cent

+20.79 per cent

TSX Composite

15,379.61 (-1.06 per cent)

-2.94 per cent

+14.77 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,370.42 (+0.17 per cent)

+0.93 per cent

+20.04 per cent

German DAX

12,003.63 (+0.12 per cent)

+1.78 per cent

+20.84 per cent

 

Asia (at close)

China CSI 300

3,463.64 (+0.20 per cent)

+1.23 per cent

+12.65 per cent

Japan Nikkei

19,577.38 (-0.16 per cent)

+0.72 per cent

+14.37 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

51.66

(+1.43 per cent)

48.55

(+1.74 per cent)

1202.30

(-0.02 per cent)

U$0.7423

 

Aus. Dollar

U$0.7584



Oil demand will ease this year says IEA

The International Energy Agency says that demand for oil will ease during 2017 but has urged investors to be patient on the rebalancing of the market.

In its latest report, the IEA said that OPEC nations signed up to the production cuts are 98 per cent compliant but volatility for the market will continue.

The slowdown in demand was seen in January in Japan, Germany, Korea and India.