Morning Briefing: Chinese data weak, oil stabilizes

Morning Briefing: Chinese data weak, oil stabilizes

Morning Briefing: Chinese data weak, oil stabilizes Chinese data weak, oil stabilizes
It’s been a busy day for data so far Friday with China releasing its latest industrial output, retail sales and fixed asset investment growth figures; all missed expectations of analysts.

Meanwhile, European GDP data is released today with the Eurozone figure to come following mixed results from some of the individual members. Germany’s GDP grew by 0.4 per cent in the second quarter, down from 0.7 per cent in the first quarter, although that was not considered a sustainable level of growth.

Aside from data, oil prices remain in focus with some stabilization overnight following strong gains in the previous session.

Asian markets closed mostly higher while European indexes are mixed with the UK’s FTSE leading.

Wall Street and Toronto are expected to open higher.
 
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North America (previous session)
US Dow Jones 18,613.52 (+0.64 per cent) +2.12 per cent +6.96 per cent
TSX Composite 14,796.06 (+0.14 per cent) +2.20 per cent +3.18 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,929.58 (+0.22 per cent) +3.73 per cent +5.45 per cent
German DAX 10,716.90 (-0.24 per cent) +7.56 per cent -1.90 per cent
 
Asia (at close)
China CSI 300 3,294.23 (+1.88 per cent) +0.64 per cent -17.97 per cent
Japan Nikkei 16,919.92 (+1.10 per cent) +7.71 per cent -18.34 per cent
 
Other Data (at 4.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
45.93
(-0.24 per cent)
43.53
(+0.09 per cent)
1344.00
(-0.44 per cent)
U$0.7707
 
Aus. Dollar
U$0.7689

 
San Francisco Fed chief calls for rate rise this year
The president of the San Francisco Fed says that the central bank should increase interest rates before the end of the year. John Williams told the Washington Post that he believes that economic conditions, including improving labour market and rising inflation, make a rate hike likely. He is not voting on this year’s FOMC panel.