World stocks steady despite lower Wall Street... Oil near three-month lows... Gold adds value but still at near 5-year low...
World stocks steady despite lower Wall Street
Wall Street may have closed Thursday with slim losses but the rest of the world has not suffered from the weaker lead. Markets appear to be largely optimistic despite the likelihood of a US interest rate rise next month. There has been some caution though following news of gunmen storming a hotel in the African resort of Mali in what is reported to be a potential terrorist incident.
Asian markets closed broadly higher with China’s rate cut to small businesses boosting sentiment. Japan will be issuing $20 million in government bonds and the main Tokyo index closed close to a 3-month high.
European indexes are mixed so far ahead of potential stimulus measures from the ECB.
Oil near three-month lows
The price of benchmark Brent crude is hovering near three-month lows Friday as the global oversupply continues to dominate the market. West Texas crude is trending slightly lower while Brent has rebounded slightly. The stronger US dollar has also had an impact on prices this week.
Gold adds value but still at near 5-year low
The value of gold is at near 2010 prices and experts are expecting the situation to worsen for producers. The stronger US dollar is impacting commodities prices and an interest rate rise by the Fed will likely push the greenback higher. Reuters reports that Chinese banks are also becoming more cautious on gold lending following a rise in defaults from jewellers. That will further increase the pressure.
Wall Street may have closed Thursday with slim losses but the rest of the world has not suffered from the weaker lead. Markets appear to be largely optimistic despite the likelihood of a US interest rate rise next month. There has been some caution though following news of gunmen storming a hotel in the African resort of Mali in what is reported to be a potential terrorist incident.
Asian markets closed broadly higher with China’s rate cut to small businesses boosting sentiment. Japan will be issuing $20 million in government bonds and the main Tokyo index closed close to a 3-month high.
European indexes are mixed so far ahead of potential stimulus measures from the ECB.
| Latest | 1 month ago | 1 year ago | |
| North America (previous session) |
|||
| US Dow Jones | 17,732.75 (-0.02 per cent) | +2.99 per cent | +0.08 per cent |
| TSX Composite | 13,473.83 (+0.55 per cent) | -2.66 per cent | -10.62 per cent |
| Europe (at 6.00am ET) |
|||
| UK FTSE | 6,332.74 (+0.04 per cent) | -0.20 per cent | - 5.18 per cent |
| German DAX | 11,101.66 (+0.15 per cent) | +9.40 per cent | +17.06 per cent |
| Asia (at close) |
|||
| China CSI 300 | 3,774.38 (-0.02 per cent) | +5.50 per cent | +48.77 per cent |
| Japan Nikkei | 19,879.81 (+0.10 per cent) | +9.19 per cent | +14.91 per cent |
| Other Data (at 6.00am ET) |
|||
| Oil (Brent) | Oil (WTI) | Gold | Can. Dollar |
| 44.38 (+0.45 per cent) |
40.41 (-0.32 per cent) |
1084.20 (+0.58 per cent) |
U$0.7520 |
| Aus. Dollar |
|||
| U$0.7216 | |||
Oil near three-month lows
The price of benchmark Brent crude is hovering near three-month lows Friday as the global oversupply continues to dominate the market. West Texas crude is trending slightly lower while Brent has rebounded slightly. The stronger US dollar has also had an impact on prices this week.
Gold adds value but still at near 5-year low
The value of gold is at near 2010 prices and experts are expecting the situation to worsen for producers. The stronger US dollar is impacting commodities prices and an interest rate rise by the Fed will likely push the greenback higher. Reuters reports that Chinese banks are also becoming more cautious on gold lending following a rise in defaults from jewellers. That will further increase the pressure.
