Morning Briefing: Equities subdued ahead of Fed, OPEC

Morning Briefing: Equities subdued ahead of Fed, OPEC

Morning Briefing: Equities subdued ahead of Fed, OPEC Equities subdued ahead of Fed, OPEC
Two meetings are key to investor sentiment Friday; the Fed’s monetary committee which will decide interest rates next month; and OPEC’s forthcoming talks on an output cap.

Oil prices are down around 1 per cent so far and global equities are trending lower amid uncertain times, with the new US president-elect still in focus.

Asian markets closed mostly lower although Tokyo did better on a weaker yen against the greenback. Japan’s prime minister Shinzo Abe met Donald Trump Thursday but few details have emerged as the meeting was unofficial.

European indexes are trending lower with mining firms under pressure from the stronger US dollar.

Wall Street and Toronto are expected to open lower. Canadian consumer price index data will be published this morning.
 
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North America (previous session)
US Dow Jones 18,903.82 (+0.19 per cent) +4.08 per cent +6.58 per cent
TSX Composite 14,826.09 (+0.63 per cent) +0.50 per cent +10.64 per cent
 
Europe (at 4.30am ET)
UK FTSE 6,757.92 (-0.54 per cent) -3.46 per cent +7.63 per cent
German DAX 10,669.86 (-0.15 per cent) +0.36 per cent -2.65 per cent
 
Asia (at close)
China CSI 300 3,417.46 (-0.55 per cent) +2.89 per cent -8.02 per cent
Japan Nikkei 17,967.41 (+0.59 per cent) +5.92 per cent -8.56 per cent
 
Other Data (at 2.30am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
46.18
(-0.67 per cent)
44.97
(-0.99 per cent)
1204.20
(-1.20 per cent)
U$0.7387
 
Aus. Dollar
U$0.7369

 
Buy the greenback says Barclays
The US dollar should be the currency of choice for investors experts said Friday. The greenback’s strength has hit the currencies of emerging markets and the forecast is for the dollar to stay strong.

"It's difficult to argue against the dollar when you're going to see U.S. growth outperform as well, probably ultimately towards the end of next year,” Mitul Kotecha, head of Asia foreign-exchange and rates strategy at Barclays, told CNBC.
 

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