Today’s Main Market Movers
As we enter into the second quarter of 2017 Asian markets overcame a negative lead from US indices on Friday.
Today, global indices are higher, supported by encouraging manufacturing data from Japan. A flurry of manufacturing data will be released later today; from Britain to the US.
On Friday, the S&P 500 closed 0.2% lower, the index is up 0.12% today, at $2361.00. However, global stocks enjoyed a positive March, despite the bearish hurdles.
- CAC 40 level at €5114.50
- DAX 30 up 0.35% at €12385.00
- Nasdaq 100 up 0.14% at $5444.00
- DJ 30 UP 0.11% AT $20623.00
- Nikkei 225 up 0.36% at ¥19015
The dollar, which shed 2% last quarter, has started off this month on the backfoot. Just barely missing out on a four-month low, the greenback is still struggling at 1.066 against the euro.
While investors are encouraged by strong fundamentals, many effects from last year’s surprises may start to appear the quarter. From Trump’s protectionist trade policies to Brexit, investors are wary of the repercussions from these political developments.
This month brings its own uncertainties. Donald Trump and Xi Jinping will meet later this week. Trump has warned that the administration will take action to eradicate nuclear ammunition from North Korea if China refuses to put pressure on the region.
The first round of the French elections take place on the 23rd of April. It looks likely that Emmanuel Macron and Marine Le Pen will advance to the final round of the election. If elected, far-right candidate Le Pen, has vowed to take France out of the European Union.
Commodity’s Corner
Crude oil has reached its target mark of $50. The commodity is on a downwards trend today as fears of over-supply creep in. A barrel of the black stuff will cost you $50.55.
Soft commodities are on an upswing with corn up 1.2% and wheat up 1.11%. Energies are taking notes from crude oil, mostly trading downwards this morning.
Gold is also trading downwards, at $1246.33 per bullion.
News Today
09:00 GMT EUR Final Manufacturing PMI
09:30 GMT GBP Manufacturing PMI
14:30 CAD Manufacturing PMI
15:00 GMT ISM Manufacturing PMI
20:00 USD FOMC Member Dudley Speaks