Markets jump after Dow’s 20k... Oil prices up but supply issues remain...
Markets jump after Dow’s 20k
The Dow Jones’ historic rise above 20,000 in the previous session has seen world markets firmly in positive territory Thursday.
Meanwhile, a weaker US dollar has boosted currencies and helped oil prices.
Asian indexes closed their session with broad gains with Tokyo’s Nikkei up 1.81 per cent and the Hang Seng in Hong Kong up 1.41 per cent. Other regional indexes saw more moderate gains but sentiment was raised.
European markets are trending higher with better-than-expected UK GDP data and German consumer confidence index adding to the optimistic tone.
Wall Street and Toronto are expected to open higher. There’s a raft of US data due including the Advance Goods Trade Balance figures for December and homes data.
Oil prices up but supply issues remain
The turbulence for oil markets is not over yet despite optimism over the recently-implemented output caps.
While OPEC and other producers say that their agreed cuts are on target, the EIA says that US producers are boosting inventories which may mitigate the effects of the caps.
Current rises in prices are due to the weakened greenback, helping global customers to buy cheaper when exchange rates are factored in. This added demand may help ease supply glut fears.
The Dow Jones’ historic rise above 20,000 in the previous session has seen world markets firmly in positive territory Thursday.
Meanwhile, a weaker US dollar has boosted currencies and helped oil prices.
Asian indexes closed their session with broad gains with Tokyo’s Nikkei up 1.81 per cent and the Hang Seng in Hong Kong up 1.41 per cent. Other regional indexes saw more moderate gains but sentiment was raised.
European markets are trending higher with better-than-expected UK GDP data and German consumer confidence index adding to the optimistic tone.
Wall Street and Toronto are expected to open higher. There’s a raft of US data due including the Advance Goods Trade Balance figures for December and homes data.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 20,068.51 (+0.78 per cent) | +0.68 per cent | +26.33 per cent |
| TSX Composite | 15,643.84 (+0.21 per cent) | +2.06 per cent | +26.86 per cent |
| Europe (at 5.00am ET) |
|||
| UK FTSE | 7,178.67 (+0.20 per cent) | +1.56 per cent | +21.44 per cent |
| German DAX | 11,869.38 (+0.54 per cent) | +3.66 per cent | +20.84 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,387.96 (+0.36 per cent) | +1.97 per cent | +15.22 per cent |
| Japan Nikkei | 19,402.39 (+1.81 per cent) | +0.03 per cent | +16.12 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 55.30 (+0.40 per cent) |
52.85 (+0.19 per cent) |
1192.50 (-0.44 per cent) |
U$0.7628 |
| Aus. Dollar |
|||
| U$0.7543 | |||
Oil prices up but supply issues remain
The turbulence for oil markets is not over yet despite optimism over the recently-implemented output caps.
While OPEC and other producers say that their agreed cuts are on target, the EIA says that US producers are boosting inventories which may mitigate the effects of the caps.
Current rises in prices are due to the weakened greenback, helping global customers to buy cheaper when exchange rates are factored in. This added demand may help ease supply glut fears.
