Morning Briefing: Politics, data weigh on markets

Morning Briefing: Politics, data weigh on markets

Morning Briefing: Politics, data weigh on markets Politics, data weigh on markets
Continued concern over the global political landscape is weighing on the markets Tuesday. Donald Trump, Brexit and the rise of the far-right in forthcoming French elections are all in focus.

Meanwhile, mixed data and easing prices for commodities are all adding to the mix of challenges.

Asian markets closed mostly lower with Sydney’s ASX bucking the regional trend as the Reserve Bank of Australia announced it was holding interest rates at the historic low of 1.5 per cent.

Europe’s markets are trending mostly higher despite weaker-than-expected industrial data for Germany and an easing of home prices in the UK; together with mixed corporate earnings.

Wall Street and Toronto are expected to open higher. Merchandise trade and building permits data for Canada are due.
 
  Latest 1 month ago 1 year ago
 
North America (previous session)
US Dow Jones 20,052.42 (-0.09 per cent) +0.44 per cent +23.74 per cent
TSX Composite 15,456.94 (-0.13 per cent) -0.25 per cent +21.10 per cent
 
Europe (at 5.00am ET)
UK FTSE 7,212.52 (+0.56 per cent) +0.03 per cent +23.33 per cent
German DAX 11,553.21 (+0.38 per cent) -0.39 per cent +24.41 per cent
 
Asia (at close)
China CSI 300 3,365.68 (-0.22 per cent) +0.54 per cent +13.56 per cent
Japan Nikkei 18,910.78 (-0.35 per cent) -2.79 per cent +12.43 per cent
 
Other Data (at 5.00am ET)
Oil (Brent) Oil (WTI) Gold Can. Dollar
55.46
(-0.47 per cent)
52.79
(-0.42 per cent)
1230.60
(-0.12 per cent)
U$0.7579
 
Aus. Dollar
U$0.7614

 
A new battle for the EU leaders
The European Union, still awaiting official confirmation of the UK’s exit, is facing another key moment in its history with France on the brink of a populist uprising.

With far-right party leader Marine Le Pen leading many polls, the president of Europe’s central bank has hit back at her promise to restore the franc as the nation’s currency, ditching the Euro.

Mario Draghi said that leaving the single currency is not an option under EU law but has admitted that it would be possible.

However, it would require the French central bank to fulfil all its liabilities to the ECB and some experts believe that the move would cripple France’s finances and lead to a surge in unemployment.

The French presidential election will be held in April.
 

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