Morning Briefing: Markets mixed ahead of central banks, oil down again

Morning Briefing: Markets mixed ahead of central banks, oil down again

Morning Briefing: Markets mixed ahead of central banks, oil down again Markets mixed ahead of central banks, oil down again
Equity markets are focused on two of the world’s most important financial institutions Tuesday, the Fed and the Bank of Japan.

Both announce interest rates and monetary policy decisions Wednesday and although there is little expectation of a move by the Fed this time, analysts are predicting it may slow its projections for future rate rises. There are high hopes that the BoJ may inject additional stimulus.

Meanwhile, oil prices are lower following comments made by the Venezuelan oil minister that global supplies are 10 per cent above demand.

Asian indexes closed mixed with Sydney getting back to business after a tech failure in the previous session and closing higher along with Seoul. Tokyo, Shanghai and Hong Kong all ended the session lower.

European indexes are trending higher ahead of the Fed and BoJ and with support from some regional earnings.
Wall Street and Toronto are expected to open higher.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 18,120.17 (-0.02 per cent) -2.33 per cent +10.59 per cent
TSX Composite 14,496.23 (+0.32 per cent) -1.30 per cent +6.22 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,834.35 (+0.31 per cent) -0.36 per cent +11.96 per cent
German DAX 10,408.02 (+0.33 per cent) -1.29 per cent +4.96 per cent
 
Asia (at close)
China CSI 300 3,257.40 (-0.18 per cent) -3.20 per cent +0.19 per cent
Japan Nikkei 16,492.15 (-0.16 per cent) -0.32 per cent -8.73 per cent
 
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
45.68
(-0.59 per cent)
43.09
(-0.48 per cent)
1319.20
(+0.11 per cent)
U$0.7568
 
Aus. Dollar
U$0.7550

 
Get used to weak trade says ECB report
The European Central Bank released a report Tuesday suggesting that weak trade for developed countries is the new normal as activity continues to shift towards emerging economies.

It also warns that “the structural developments that boosted trade in the past - falling transportation costs, trade liberalization, expanding global value chains and financial deepening” are not likely to provide the same support for trade over the medium term.

The ECB report says that global trade has stagnated since the financial crisis and is expected to continue at that rate.