Morning Briefing: Politics, Fed in focus

Politics, Fed in focus

World markets have started the new week focused on politics and an increasingly-likely interest rate rise by the Fed this week.

The UK election result is still a concern for investors with the incumbent prime minister Theresa May clinging on to power but far from the “strong and stable” leadership that she had promised during the campaign.

With Brexit talks scheduled to get underway in a week, European indexes are under pressure with a widespread negative trend this morning.

In Asia, there was cautious trade with some markets – including Sydney and the Philippines closed for holidays. Seoul and Hong Kong were among the weakest indexes of the session.

Along with the Fed’s meeting which begins Wednesday, the central banks in England and Japan will also meet this week.
Wall Street and Toronto are expected to open lower. No major data releases are due.
 

	Latest	1 month ago	1 year ago
North America (previous session)
US Dow Jones	21,271.97 (+0.42 per cent)	+1.80 per cent	+19.07 per cent
TSX Composite	15,473.21 (+0.33 per cent)	-0.42 per cent	+10.23 per cent
Europe (at 5.00am ET)
UK FTSE	7,500.09 (-0.36 per cent)	+0.87 per cent	+22.64 per cent
German DAX	12,757.81 (-0.45 per cent)	+0.10 per cent	+29.72 per cent
Asia (at close)
China CSI 300	3,574.39 (-0.05 per cent)	+5.58 per cent	+12.97 per cent
Japan Nikkei	19,908.58 (+0.52 per cent)	+0.12 per cent	+19.92 per cent
Other Data (at 5.00am ET)
Oil (Brent)	Oil (WTI)	Gold	Can. Dollar
48.41 (+0.54 per cent)	46.01 (+0.39 per cent)	1270.60 (-0.06 per cent)	U$0.7439
			Aus. Dollar
			U$0.7536

Oil market should be balanced early 2018 says Russian minister

The global oil glut will ease to 5-year average levels in the first quarter of 2018, the Russian energy minister believes.

Alexander Novak told CNBC Sunday that he expects the market to balance over the next few quarters, “probably by the end of the first quarter of next year.”

He said that producers would need to monitor investment in the shale industry and also said that there needs to be a political solution to the current dispute between several Middle East nations and Qatar.