Morning Briefing: Markets mixed following Trump tax plan, ECB awaited

Morning Briefing: Markets mixed following Trump tax plan, ECB awaited

Morning Briefing: Markets mixed following Trump tax plan, ECB awaited Markets mixed following Trump tax plan, ECB awaited

Tax proposals from the Trump administration are being weighed by investors Thursday while European markets await the ECB’s interest rate decision.

Asian markets closed mostly higher although Japan was lower despite a stronger economic outlook from the BoJ. Australian import and export price indexes exceeded expectations and there was also positive news on China’s industrial profits.

European indexes are trending lower ahead of the ECB. As well as interest rates, the central bank’s monetary policy and outlook will be carefully digested. Several confidence indicators for the Eurozone showed increased sentiment.

Wall Street and Toronto are expected to open flat. US durable goods and housing data is due.
 

 

Latest

1 month ago

1 year ago

 

North America (previous session)

US Dow Jones

20,975.09 (-0.10 per cent)

+2.06 per cent

+16.26 per cent

TSX Composite

15,649.54 (-0.61 per cent)

+0.92 per cent

+12.69 per cent

 

Europe (at 5.00am ET)

UK FTSE

7,248.66 (-0.55 per cent)

-0.61 per cent

+14.70 per cent

German DAX

12,439.33 (-0.27 per cent)

+3.70 per cent

+20.80 per cent

 

Asia (at close)

China CSI 300

3,446.72 (+0.03 per cent)

-0.90 per cent

+8.87 per cent

Japan Nikkei

19,251.87 (-0.19 per cent)

+1.40 per cent

+11.34 per cent

 

Other Data (at 5.00am ET)

Oil (Brent)

Oil (WTI)

Gold

Can. Dollar

51.32

(-0.96 per cent)

49.17

(-0.91 per cent)

1264.70

(+0.04 per cent)

U$0.7365

 

Aus. Dollar

U$0.7474



NAFTA won’t be scrapped for now Trump tells Canada

The three-way trade deal between Canada, the US and Mexico is not going to be terminated soon, despite rumours that President Trump was preparing an executive order to do so.

Reuters reports that the White House says the policy to renegotiate NAFTA remains and it wants to move quickly to do so. The administration has spoken with Justin Trudeau, and Enrique Pena Nieto of Mexico.

"President Trump agreed not to terminate NAFTA at this time and the leaders agreed to proceed swiftly, according to their required internal procedures, to enable the renegotiation of the NAFTA deal to the benefit of all three countries," a White House statement said.