Markets react to Fed, Oil continues lower... Argentina to relax controls on foreign exchange...
Markets react to Fed, Oil continues lower
While North American markets closed higher following the Fed’s interest rate announcement, it came after Asian and European markets were closed. Friday offered investors in those markets the opportunity to react to the rate rise.
Trading so far has been positive with Asian markets taking a strong lead from Wall Street and concluding that the Fed had offered up the right mix of restraint and certainty that investors were hoping for. All major Asian indexes closed higher.
European indexes are also higher so far with Germany’s DAX up 3 per cent in mid-morning trade. Regionally there was good news for airlines who won an appeal against an EU fine.
Wall Street and Toronto are expected to open higher. US jobs data is in focus.
Meanwhile oil prices have continued to fall overnight as oversupply fears grow. US crude is at a near-11-year low.
Argentina to relax controls on foreign exchange
Controls on the Argentine peso will be lifted four years after they were introduced. President Mauricio Macri’s plan is to boost exports and help the country recover from slow growth, however there are concerns of further fuelling overheated inflation. The controls on the peso will no longer apply when the markets open Thursday.
While North American markets closed higher following the Fed’s interest rate announcement, it came after Asian and European markets were closed. Friday offered investors in those markets the opportunity to react to the rate rise.
Trading so far has been positive with Asian markets taking a strong lead from Wall Street and concluding that the Fed had offered up the right mix of restraint and certainty that investors were hoping for. All major Asian indexes closed higher.
European indexes are also higher so far with Germany’s DAX up 3 per cent in mid-morning trade. Regionally there was good news for airlines who won an appeal against an EU fine.
Wall Street and Toronto are expected to open higher. US jobs data is in focus.
Meanwhile oil prices have continued to fall overnight as oversupply fears grow. US crude is at a near-11-year low.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,749.09 (+1.28 per cent) | +1.48 per cent | +2.26 per cent |
| TSX Composite | 13,166.08 (+1.91 per cent) | -0.86 per cent | -7.37 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,143.16 (+1.35 per cent) | -2.00 per cent | -3.05 per cent |
| German DAX | 10,773.29 (+2.90 per cent) | -1.80 per cent | +12.88 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,755.89 (+1.91 per cent) | -0.07 per cent | +11.76 per cent |
| Japan Nikkei | 19,353.56 (+1.59 per cent) | -1.41 per cent | +15.06 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 37.27 (-0.32 per cent) |
35.18 (-0.96 per cent) |
1065.10 (-1.09 per cent) |
U$0.7232 |
| Aus. Dollar |
|||
| U$0.7200 | |||
Argentina to relax controls on foreign exchange
Controls on the Argentine peso will be lifted four years after they were introduced. President Mauricio Macri’s plan is to boost exports and help the country recover from slow growth, however there are concerns of further fuelling overheated inflation. The controls on the peso will no longer apply when the markets open Thursday.
