Markets cautious ahead of Trump... Protectionism to hit global growth says World Bank...
Markets cautious ahead of Trump
World markets are awaiting a news conference from president-elect Donald Trump Wednesday, due at 11am ET. Meanwhile, oil prices are up with output caps and pending US inventory data in focus.
Asian indexes closed mostly higher, led by Hong Kong; Shanghai was the exception as Chinese investors weigh the recent Trump rhetoric and await further insight into the new administration’s policies.
European bourses are generally optimistic, trending higher but with caution. In London, mixed economic data has made little difference to the FTSE100 while BoE governor Mark Carney is due to appear before lawmakers later.
Wall Street and Toronto are expected to open flat ahead of Trump.
Protectionism to hit global growth says World Bank
Protectionist policies, weak growth in some major markets and disruption to financial markets are a cause for concern in 2017, the World Bank says.
The organization expects global growth to be lower this year at 2.7 per cent compared to the 2.8 per cent it forecast in June. The uncertainty caused by Brexit and the new president are key factors.
The World Bank’s report warns that if Trump carries through policies which would tear-up trade deals and impose higher tariffs on trading partners, the retaliation by those partners could damage the US economy.
World markets are awaiting a news conference from president-elect Donald Trump Wednesday, due at 11am ET. Meanwhile, oil prices are up with output caps and pending US inventory data in focus.
Asian indexes closed mostly higher, led by Hong Kong; Shanghai was the exception as Chinese investors weigh the recent Trump rhetoric and await further insight into the new administration’s policies.
European bourses are generally optimistic, trending higher but with caution. In London, mixed economic data has made little difference to the FTSE100 while BoE governor Mark Carney is due to appear before lawmakers later.
Wall Street and Toronto are expected to open flat ahead of Trump.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 19,855.53 (-0.16 per cent) | +0.50 per cent | +21.47 per cent |
| TSX Composite | 15,426.28 (+0.24 per cent) | +0.75 per cent | +25.22 per cent |
| Europe (at 5.00am ET) |
|||
| UK FTSE | 7,288.80 (+0.18 per cent) | +4.81 per cent | +24.13 per cent |
| German DAX | 11,609.09 (+0.22 per cent) | +3.62 per cent | +18.16 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,334.50 (-0.71 per cent) | -4.56 per cent | +4.45 per cent |
| Japan Nikkei | 19,364.67 (+0.33 per cent) | +1.94 per cent | +9.42 per cent |
| Other Data (at 5.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 54.14 (+0.93 per cent) |
51.25 (+0.85 per cent) |
1188.60 (+0.26 per cent) |
U$0.7557 |
| Aus. Dollar |
|||
| U$0.7383 | |||
Protectionism to hit global growth says World Bank
Protectionist policies, weak growth in some major markets and disruption to financial markets are a cause for concern in 2017, the World Bank says.
The organization expects global growth to be lower this year at 2.7 per cent compared to the 2.8 per cent it forecast in June. The uncertainty caused by Brexit and the new president are key factors.
The World Bank’s report warns that if Trump carries through policies which would tear-up trade deals and impose higher tariffs on trading partners, the retaliation by those partners could damage the US economy.
