Morning Briefing: Earnings, RBA give markets a boost

Morning Briefing: Earnings, RBA give markets a boost

Morning Briefing: Earnings, RBA give markets a boost Earnings, RBA give markets a boost

Regional earnings and the decision of Australia’s central bank to hold interest rates, have contributed to a generally positive tone among world markets so far Tuesday.

The French presidential election is in focus along with the Fed meeting and regional economic data.

Asian markets closed mostly higher despite some weak data for Chinese manufacturing; Shanghai and Sydney both closed lower.

European indexes are trending higher although Eurozone manufacturing and unemployment figures disappointed. Regional earnings were in focus and a rise for both oil and gold prices.

Wall Street and Toronto are expected to open flat. No major data releases are due.
 

 

Latest

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North America (previous session)

US Dow Jones

20,913.46 (-0.13 per cent)

+1.21 per cent

+16.89 per cent

TSX Composite

15,575.63 (-0.07 per cent)

+0.18 per cent

+12.33 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,235.64 (+0.44 per cent)

-1.19 per cent

+15.92 per cent

German DAX

12,449.35 (+0.09 per cent)

+1.11 per cent

+24.01 per cent

 

Asia (at close)

China CSI 300

3,426.58 (-0.38 per cent)

-0.85 per cent

+8.55 per cent

Japan Nikkei

19,445.70 (+0.70 per cent)

+2.84 per cent

+20.43 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

51.85

(+0.64 per cent)

49.04

(+0.41 per cent)

1255.90

(+0.03 per cent)

U$0.7317

 

Aus. Dollar

U$0.7531


Fed may increase interest rates…but not this month

A poll of economists by Reuters shows that most believe that there will be no increase in interest rates when the Fed meets this week.

The experts believe that the US central bank will want to consider additional economic data before making the next increase but that could be in June.

Softer growth in the first quarter of 2017 will be downplayed when the Fed’s chair Janet Yellen holds her press conference according to  Wells Fargo’s Sam Bullard who told Reuters that he is not expecting many changes to the Fed’s policy statement.