Monday Overview on Global Markets

作者： Sera Akinci  |  22/05/2017 06:03

Monday morning saw a high volume of trading as the Global markets responded with mixed signals to the early-morning deals. On Friday, the markets reacted with almost unanimous positivity to the GST rates announcement, with most rates falling under 18%.

Asian stocks have also seen a rise this morning, in contrast to the NYSE markets (which are currently facing pressure as a result of Washington’s political turmoil), reflecting a degree of oversees confidence in US economic policies.

Global stocks are nearing the highest levels in history, with investors considering the global economic growth of the US and Brazil to point towards an upcoming political upheaval, and that the FED should be able to withstand the resulting interest rate hikes. Financial executives will examine the minutes of the FED meeting (which will be announced this week) as the FED observes the 80% chance of interest rate hikes in the next month's meeting.
 
Indices: 

- S&P 500 Futures were 0.14% up to 2,384.75 at 7:50am GMT.
- NASDAQ Futures were 0.19% to 5,664.25
- DOW30 was up 0.69% to 20,804,84
- DAX index was up 0.39% to 12,638.69
- Nikkei 225 was 0.42% up to 19,673.50
- The US Dollar Index was up 0.18% to 97.17
- Euro Index was up 0.13% to 90.21
 
Commodities: 
- Gold was up 0.03% to 1,253.86
- Silver was up 0.86% to 16.940
- Copper was down 0.46% to 2.575
- Crude Oil WTI was up 0.73% to 51.04
- Brent Oil was up 0.69% to 53.98
- Natural Gas was up 0.95% to 3.385

Due to high speculations over oil production cuts, oil prices have increased to 51 dollars per barrel.

Forex:

- EURUSD was down 0.17% to 1.1189
- EURGBP was up 0.10% to 0.8605
- GBPUSD was down 0.25% to 1.3003
- USDJPY was up 0.10% to 111.37
- USDGBP was up 0.23% to 0.7692
- USDCHF was up 0.20% to 0.9749
- AUDUSD was down 0.19% to 0.7447
- USDCNH was up 0.11% to 6.8798
 
Bonds: 

- US10Y yield was up 0.16% to 2.249
- US30Y yield was down 0.06% to 2.904
- US 2Y yield was up 0.60% to 1.287
 
What to watch this week:
* The Brazilian Central Bank will announce on Monday its forecasts for the benchmark interest rate and traders are limiting their expectations over a further reduction in average interest rate cuts at the end of this month.
 
* Fed officials Patrick Harker and Neel Kashkari will speak on Monday.

* Minutes of the Fed's 3 May meeting will be announced on Wednesday.
 
* The key OPEC meeting will be held in Vienna on Thursday. OPEC and its allies, according to Saudi Arabia's Energy Minister, will extend the agreement on production at this meeting for another nine months.