Markets Like A Deal

By CMC Markets (Michael McCarthy)Market OverviewSep 07, 2017 10:13

au.investing.com/analysis/markets-like-a-deal-200196412

Markets Like A Deal

By CMC Markets (Michael McCarthy) | Sep 07, 2017 10:13

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+1.54%

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Originally published by CMC Markets

Share markets reversed early weakness after the Democrats in the US announced a deal with their political opponents to lift the debt ceiling and provide funding for government purposes until December 15. A surprise rate hike from the Bank of Canada appeared to lift investor confidence. Rallies in industrial commodities also point to increased market optimism.

The deal struck by US politicians looks weak. It’s a short term fix that buys a short amount of time but will result in increased pressure on the government as the new deadline of December 15 looms. However investors responded to the reduction in short term uncertainty.

The Bank of Canada lifted cash rates to 1%, citing a stronger economy. Last week’s GDP data showed an annual growth rate of 4.5%, well above estimates around 3.7%. The Canadian dollar starred in currency trading, hitting two year highs against the US dollar.

Futures markets are pointing to opening gains across the Asia Pacific region today. Trading volumes may decline ahead of Australian retail sales and a read on the Japanese leading index due today. Gains for iron ore, copper and oil could see resource stocks extend their recent rallies.

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Central Banks

Interest Rates

Next Meeting

RBA

4.10%

Apr 01, 2025

BOE

4.50%

Mar 20, 2025

ECB

2.90%

Mar 06, 2025

FED

4.50%

Mar 19, 2025

SNB

0.50%

Mar 20, 2025

BOC

3.00%

Mar 12, 2025

RBNZ

3.75%

Apr 09, 2025

BOJ

0.50%

Mar 19, 2025

CBR

21.00%

Mar 21, 2025

RBI

6.25%

Mar 10, 2025

PBOC

3.10%

BCB

13.25%

Mar 19, 2025

S&P/ASX 200	8,240.70	-11.20	-0.14%
ASX 200 Futures	8,229.5	+29.0	+0.35%
ASX All Ordinaries	8,477.30	-20.70	-0.24%
US 500	5,999.6	+44.2	+0.74%
Dow Jones	43,814.83	+193.67	+0.44%
China A50 Futures	13,306.0	+71.0	+0.54%
Dollar Index	106.490	+0.262	+0.25%

Crude Oil WTI	68.99	+0.06	+0.09%
Natural Gas	3.982	-0.148	-3.58%
Gold	2,919.26	+0.46	+0.02%
Silver	32.120	+0.294	+0.92%
Copper	4.5973	+0.0697	+1.54%
US Sugar #11	19.60	-0.37	-1.85%
US Coffee C	373.10	-2.80	-0.74%

Australia 10Y	4.413	+0.049	+1.12%
Australia 5Y	3.947	+0.037	+0.95%
New Zealand 10Y	4.604	+0.009	+0.22%
U.S. 10Y	4.308	+0.010	+0.23%
Japan 10Y	1.347	-0.020	-1.46%
China 10Y	1.771	-0.011	-0.62%
Singapore 10Y	2.770	-0.039	-1.42%

CSL	264.82	+2.35	+0.90%
Woolworths	30.600	-0.960	-3.04%
ANZ Holdings	29.750	+0.410	+1.40%
Commonwealth Bank Australia	156.260	+1.990	+1.29%
Telstra Group	4.080	-0.080	-1.92%
National Australia Bank	35.530	+0.140	+0.40%
BHP Group Ltd	39.710	-0.600	-1.49%

Markets Like A Deal

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