Morning Briefing: Trump policies send investors to the hills

Morning Briefing: Trump policies send investors to the hills

Morning Briefing: Trump policies send investors to the hills Trump policies send investors to the hills
Gold prices have jumped overnight as investors in Asian markets weighed concerns over President Trump’s policies with the Fed’s optimistic tone on the US economy and a hold on interest rates.

A weaker US dollar has also given a lift to oil prices along despite concerns about rising US stockpiles, reducing the impact of the production caps elsewhere.

Asian markets closed mostly lower with Japan’s Nikkei off by more than 1 per cent. Australia’s ASX closed lower as mixed economic data was overshadowed by a call between prime minister Malcolm Turnbull and the new US president which Trump described as “the worst call by far” compared to those with other world leaders.

Shanghai remains closed for the Lunar New Year holiday.

European indexes are also slipping so far Thursday. Regional earnings are in focus.

London’s FTSE is the outlier as markets react to a vote of lawmakers which has given approval for the government to begin the EU exit process. Further details of the plan are due along with the Bank of England’s interest rate and inflation data and a press conference from governor Mark Carney.

Wall Street and Toronto are expected to open lower.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 19,890.94 (+0.14 per cent) +0.65 per cent +23.14 per cent
TSX Composite 15,402.39 (+0.11 per cent) +0.75 per cent +23.79 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,117.87 (+0.14 per cent) -0.35 per cent +20.19 per cent
German DAX 11,614.87 (-0.38 per cent) +0.14 per cent +21.23 per cent
 
Asia (at close)
China CSI 300 3,387.96 (+0.36 per cent) +2.16 per cent +15.62 per cent
Japan Nikkei 18,914.58 (-1.22 per cent) -1.05 per cent +6.56 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
57.38
(+1.02 per cent)
54.28
(+0.74 per cent)
1224.80
(+1.37 per cent)
U$0.7699
 
Aus. Dollar
U$0.7670
 
Deutsche drops $2 billion
Germany’s Deutsche Bank had a bad 2016 and reflected that in its financial results Thursday.

It posted a net loss of U$2.1 billion for the fourth quarter and a full-year loss of $1,5 billion. Its shares have dropped 6 per cent in early trading, CNN reports.

The bank was hit with a hefty fine by US regulators over toxic mortgage assets.