Markets await Yellen, Deutsche pushes Euro-markets higher... Canadian jobs are lower quality than many peers... Iran will talk to Saudi Arabia on oil production cuts...
Markets await Yellen, Deutsche pushes Euro-markets higher
Fed chair Janet Yellen will testify to the House Finance Committee Wednesday and markets are awaiting clues on interest rates but also reassurance that the Fed is prepared to react to the markets as well as data.
Asian markets closed lower with Japan off by more than 2 per cent. Some of the major exchanges are closed this week, including Shanghai. Those that are trading, including Tokyo, Singapore and Sydney are being rocked by falling commodity prices.
European indexes, while awaiting the Fed, have surged on reports that Germany’s Deutsche Bank is considering a 50 billion Euro bond-buyback. Its shares gained almost 14 per cent. The major markets are all ahead so far.
Wall Street and Toronto are expected to open flat ahead of Yellen’s speech.
Canadian jobs are lower quality than many peers
The quality of Canada’s jobs is lower than that of many of leading nations according to the OECD. The organisation’s ratings are based on earnings, job security and working environments. Australia tops the list and Canada is rated as ‘average’. We’re in good company though, alongside the US, Britain and New Zealand among others.
Iran will talk to Saudi Arabia on oil production cuts
Iran said Tuesday that it is willing to discuss cutting oil output with Saudi Arabia. Analysts are unsure as to the likelihood that this would bring results as Iran has only just re-entered the market and is only the latest in a line of producing nations that has suggested talks could happen. Saudi Arabia leads the OPEC nations that are opposed to cutting output, although continued downward pressure is hitting the kingdom’s economy hard.
Fed chair Janet Yellen will testify to the House Finance Committee Wednesday and markets are awaiting clues on interest rates but also reassurance that the Fed is prepared to react to the markets as well as data.
Asian markets closed lower with Japan off by more than 2 per cent. Some of the major exchanges are closed this week, including Shanghai. Those that are trading, including Tokyo, Singapore and Sydney are being rocked by falling commodity prices.
European indexes, while awaiting the Fed, have surged on reports that Germany’s Deutsche Bank is considering a 50 billion Euro bond-buyback. Its shares gained almost 14 per cent. The major markets are all ahead so far.
Wall Street and Toronto are expected to open flat ahead of Yellen’s speech.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 16,014.38 (-0.08 per cent) | -2.03 per cent | -10.38 per cent |
| TSX Composite | 12,282.65 (-2.02 per cent) | -1.31 per cent | -18.73 per cent |
| Europe (at 4.30am ET) |
|||
| UK FTSE | 5,702.81 (+1.25 per cent) | -3.55 per cent | -16.49 per cent |
| German DAX | 9,092.52 (+2.40 per cent) | -7.68 per cent | -15.45 per cent |
| Asia (at close) |
|||
| China CSI 300 | 2,963.79 (-0.70 per cent) | -11.83 per cent | -10.52 per cent |
| Japan Nikkei | 15,713.39 (-2.31 per cent) | -11.21 per cent | -10.99 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 30.89 (+1.88 per cent) |
28.48 (+1.93 per cent) |
1182.20 (-1.37 per cent) |
U$0.7210 |
| Aus. Dollar |
|||
| U$0.7100 | |||
Canadian jobs are lower quality than many peers
The quality of Canada’s jobs is lower than that of many of leading nations according to the OECD. The organisation’s ratings are based on earnings, job security and working environments. Australia tops the list and Canada is rated as ‘average’. We’re in good company though, alongside the US, Britain and New Zealand among others.
Iran will talk to Saudi Arabia on oil production cuts
Iran said Tuesday that it is willing to discuss cutting oil output with Saudi Arabia. Analysts are unsure as to the likelihood that this would bring results as Iran has only just re-entered the market and is only the latest in a line of producing nations that has suggested talks could happen. Saudi Arabia leads the OPEC nations that are opposed to cutting output, although continued downward pressure is hitting the kingdom’s economy hard.
