Markets trend lower amid oil slip, politics... G20 meeting ahead, what’s on the agenda?...
.jpg)
Markets trend lower amid oil slip, politics
Oil has rebounded overnight as data shows a larger US draw but the gains are small compared to the slide during the previous session.
Markets are focused on oil but also on geopolitics with President Trump talking tough on North Korea. Then there are the FOMC minutes released Wednesday which show concern about the impact of rising interest rates.
Most Asian markets closed lower, except mainland China, and Australia’s ASX was flat following a larger-than-expected trade surplus in May.
European markets are also trending lower with weak data for Germany’s factory orders and mixed Eurozone data on retail.
Wall Street and Toronto are expected to open lower. Canadian building permits and merchandise trade data is due. US services PMI is due.
|
|
Latest |
1 month ago |
1 year ago |
|
North America (previous session) |
|||
|
US Dow Jones |
21,478.17 (-0.01 per cent) |
+1.62 per cent |
+19.87 per cent |
|
TSX Composite |
15,153.12 (+0.15 per cent) |
-2.01 per cent |
+6.48 per cent |
|
Europe (at 5.00am ET) |
|||
|
UK FTSE |
7,344.42 (-0.31 per cent) |
-2.40 per cent |
+13.63 per cent |
|
German DAX |
12,384.22 (-0.56 per cent) |
-2.41 per cent |
+32.12 per cent |
|
Asia (at close) |
|||
|
China CSI 300 |
3,660.10 (+0.01 per cent) |
+4.79 per cent |
+13.78 per cent |
|
Japan Nikkei |
19,994.06 (+0.44 per cent) |
+0.07 per cent |
+30.01 per cent |
|
Other Data (at 5.00am ET) |
|||
|
Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
|
48.36 (+1.19 per cent) |
45.71 (+1.29 per cent) |
1224.20 (+0.20 per cent) |
U$0.7726 |
|
Aus. Dollar |
|||
|
U$0.7601 |
|||
G20 meeting ahead, what’s on the agenda?
G20 leaders will be meeting this weekend in Germany and will have a broad range of topics to discuss.
Defense and terrorism will play an important role in discussions, especially with increased tension in Asia following the intensification of North Korea’s nuclear efforts. The US will be increasing pressure on China to act with Russia also expected to get involved.
Trade talks will also be key with a split between those who want to increase free trade (most of the world) and those who want to restrict it (President Trump). The IMF says that world leaders should collaborate on trade.
Meanwhile, climate change will also be a focus of talks and is likely to result in some heated debate.
