Morning Report

Equity

Asian share markets firmed on Monday as investors dared to hope for both progress at Sino-U.S. trade talks in Washington this week and more policy stimulus from major central banks

MSCI’s broadest index of Asia-Pacific shares outside Japan added 0.3 percent, partially recovering from a sharp fall last Friday.

Japan’s Nikkei climbed 1.6 percent to hit its highest for the year so far, while Australia’s main index rose 0.7 percent. E-Mini futures for the S&P 500 were flat, with trade thinned by a holiday in U.S. markets.

Currency

The European Central Bank’s Olli Rehn told a German newspaper on Sunday that recent data point to a weakening euro zone economy and interest rates would remain at the current level until monetary policy goals have been met.

Euro was last at $1.1290 and still within the $1.1213/1.1570 trading range that has held since mid-October. The dollar was steady on the yen at 110.50, having backed away from a two-month top of 111.12.

Sterling was a shade firmer at $1.2901 ahead of Brexit talks between British Prime Minister Theresa May and European Commission President Jean-Claude Juncker this week.

All of which left the dollar at 96.924 on a basket of currencies, after hitting its highest since mid-December at 97.368 last week.

Oil

Oil prices were at their highest for the year so far this year after an outage at Saudi Arabia’s offshore oilfield boosted expectations for tightening supply.

U.S. crude was last up 30 cents at $55.89 a barrel, while Brent crude futures rose to $66.61.

Published by prashanti forex

Prashanti Forex is managed by a certified treasury professional with an experience of more than 15 years in Finance and Advisory Business. His expertise come from various organisations, where he has gained knowledge and deep understanding of financial environment. His Principle Objective is providing customised advise with excellent service, committing a relationship based on integrity, understanding, honesty and trust. We are glad to offer you a boutique of services which will enable your organisation to enhance the profitability and efficiently manage the business risks. Our Services are : Treasury & Risk Management Solutions Trade Finance Wealth Management

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: