Positivity dominates world markets... Greenback will bounce back says JP Morgan...
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Positivity dominates world markets
A midweek jump in sentiment has spread around world markets in early trading Wednesday.
Positive Chinese data, corporate earnings and buoyancy for commodities are all playing their part. Markets are also coming to terms with the likelihood that President Trump’s much-heralded policies including tax reform will not necessarily happen, following the defeat of Obamacare changes.
Asian markets closed higher led by a strong performance by Shanghai. The weak US dollar saw Tokyo’s index gain but only just as exporters weighed the stronger yen.
European indexes are trending higher, mostly on corporate earnings. Brexit talks continue in Brussels.
Wall Street and Toronto are expected to open flat. US real estate and oil data is due.
Greenback will bounce back says JP Morgan
The current weakness of the Us dollar will not last long according to analysts at JP Morgan.
Its asset management division forecasts that expectation of more interest rate rises together with higher inflation will see a revival for the greenback in the second half of 2017.
“We're of the view that inflation will actually be picking up in the U.S. and currently, markets have only priced in one rate hike now till end-2018," Jasslyn Yeo, global market strategist at JPMorgan Asset Management, told CNBC's "Street Signs."
A midweek jump in sentiment has spread around world markets in early trading Wednesday.
Positive Chinese data, corporate earnings and buoyancy for commodities are all playing their part. Markets are also coming to terms with the likelihood that President Trump’s much-heralded policies including tax reform will not necessarily happen, following the defeat of Obamacare changes.
Asian markets closed higher led by a strong performance by Shanghai. The weak US dollar saw Tokyo’s index gain but only just as exporters weighed the stronger yen.
European indexes are trending higher, mostly on corporate earnings. Brexit talks continue in Brussels.
Wall Street and Toronto are expected to open flat. US real estate and oil data is due.
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Latest |
1 month ago |
1 year ago |
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North America (previous session) |
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US Dow Jones |
21,574.73 (-0.25%) |
+0.21% |
+16.25% |
|
TSX Composite |
15,149.57 (-0.10%) |
-0.76 % |
+4.30% |
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Europe (at 5.00am ET) |
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UK FTSE |
7,396.18 (+0.08%) |
-1.70% |
+10.43% |
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German DAX |
12,435.02 (+0.04%) |
-3.52% |
+24.58% |
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Asia (at close) |
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China CSI 300 |
3,729.75 (+1.71%) |
+4.96% |
+12.31% |
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Japan Nikkei |
20,020.86 (+0.10%) |
+0.23% |
+19.72% |
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Other Data (at 5.00am ET) |
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Oil (Brent) |
Oil (WTI) |
Gold |
Can. Dollar |
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48.96 (+0.25%) |
46.50 (+0.22%) |
1239.30 (+0.21%) |
U$0.7912 |
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Aus. Dollar |
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U$0.7932 |
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Greenback will bounce back says JP Morgan
The current weakness of the Us dollar will not last long according to analysts at JP Morgan.
Its asset management division forecasts that expectation of more interest rate rises together with higher inflation will see a revival for the greenback in the second half of 2017.
“We're of the view that inflation will actually be picking up in the U.S. and currently, markets have only priced in one rate hike now till end-2018," Jasslyn Yeo, global market strategist at JPMorgan Asset Management, told CNBC's "Street Signs."
