Markets mixed on data releases... Major economies expected to boost global growth says Moody’s...
.jpg)
Markets mixed on data releases
China released official PMI data Thursday showing growth for August in manufacturing while non-manufacturing was down slightly from the previous reading.
Asian markets closed mixed with Sydney and Tokyo gaining while the other major markets were mostly lower despite the Chinese figures.
European indexes are trending higher with geopolitical issues easing and the regions investors digested new data including an optic for Eurozone inflation. Which has been stubbornly weak since the financial crisis.
Wall Street and Toronto are expected to open higher. Canadian GDP and US home sales data are due.
Major economies expected to boost global growth says Moody’s
G20 economies will collectively grow at an annual rate of slightly more than 3% in 2017 and 2018, higher than last year's 2.6%.
That’s according to Moody’s Investors Service which says that with considerable slack remaining in some euro area economies and some emerging market countries, the current pace of growth around 2% in advanced economies and more than 5% in emerging markets is not only sustainable in the near term, there is potential for upside.
Moody's expects US growth of 2.2% in 2017 and 2.3% in 2018, down from 2.4% and 2.5%, respectively. US monetary policy is expected to tighten this year and next.
"A significant escalation of any of the situations in Korea, the South China Sea and other areas could have significant negative credit implications for the global economy," said Elena Duggar, an associate managing director at Moody's. “Other risks include a protectionist turn by the US, and any financial market volatility stemming from sudden changes in market expectation regarding monetary policy tightening.”
China released official PMI data Thursday showing growth for August in manufacturing while non-manufacturing was down slightly from the previous reading.
Asian markets closed mixed with Sydney and Tokyo gaining while the other major markets were mostly lower despite the Chinese figures.
European indexes are trending higher with geopolitical issues easing and the regions investors digested new data including an optic for Eurozone inflation. Which has been stubbornly weak since the financial crisis.
Wall Street and Toronto are expected to open higher. Canadian GDP and US home sales data are due.
|
|
Latest |
1 month ago |
1 year ago |
|
North America (previous session) |
|||
|
US Dow Jones |
21,892.43 (+0.12%) |
+0.01% |
+18.97% |
|
TSX Composite |
15,133.13 (+0.33%) |
-0.07 % |
+3.63% |
|
Europe (at 5.00am ET) |
|||
|
UK FTSE |
7,412.63 (+0.54%) |
+0.65% |
+9.31% |
|
German DAX |
12,069.45 (+0.56%) |
-0.40% |
+13.94% |
|
Asia (at close) |
|||
|
China CSI 300 |
3,822.09 (-0.32%) |
+2.25% |
+14.85% |
|
Japan Nikkei |
19,646.24 (+0.72%) |
-1.40% |
+16.34% |
|
Other Data (at 5.00am ET) |
|||
|
Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
|
50.96 (+0.20%) |
46.10 (+0.30%) |
1310.90 (-0.24%) |
U$0.7916 |
|
Aus. Dollar |
|||
|
U$0.7888 |
|||
Major economies expected to boost global growth says Moody’s
G20 economies will collectively grow at an annual rate of slightly more than 3% in 2017 and 2018, higher than last year's 2.6%.
That’s according to Moody’s Investors Service which says that with considerable slack remaining in some euro area economies and some emerging market countries, the current pace of growth around 2% in advanced economies and more than 5% in emerging markets is not only sustainable in the near term, there is potential for upside.
Moody's expects US growth of 2.2% in 2017 and 2.3% in 2018, down from 2.4% and 2.5%, respectively. US monetary policy is expected to tighten this year and next.
"A significant escalation of any of the situations in Korea, the South China Sea and other areas could have significant negative credit implications for the global economy," said Elena Duggar, an associate managing director at Moody's. “Other risks include a protectionist turn by the US, and any financial market volatility stemming from sudden changes in market expectation regarding monetary policy tightening.”
