Join +750K new investors every month who copy stock picks from billionaire's portfoliosSign Up Free

Top 5 Things to Know In the Market on Tuesday

Published 13/12/2016, 10:01 pm
© Reuters.  Top 5 Things to Know In the Market on Tuesday
GBP/USD
-
UK100
-
FCHI
-
DE40
-
IT40
-
CRDI
-
DX
-
ESM24
-
1YMM24
-
NQM24
-

Investing.com - Here are the top five things you need to know in financial markets on Tuesday, December 13.

1. Dollar steadies as Fed meeting looms

The dollar firmed up on Tuesday with the U.S. dollar index at 101.15, recovering from its weakest day in a week ahead of a Federal Reserve meeting ending on Wednesday.

The Fed is widely expected to hike rates; with investors pricing in a 100% chance of an increase, according to federal funds futures tracked Investing.com's Fed Rate Monitor Tool.

But investors remained cautious amid doubts over whether the U.S. central bank will indicate that more tightening is to follow in 2017.

2. Oil output cut deal could create supply deficit in first half IEA says

Global oil inventories could start to draw in the first half of 2017 if OPEC and non-OPEC producers follow through on an agreement to cut output, the International Energy Agency said Tuesday.

The agency’s monthly oil market report also said global oil demand will rise more strongly than expected this year and next year.

It lifted its forecast for global oil demand growth this year by 120,000 barrels per day to 1.4 million bpd and its forecast for 2017 by 110,000 bpd to 1.3 million bpd.

3. U.K. inflation jumps to 1.2%

The annual rate of inflation in the U.K. jumped to 1.2% in November, the highest level since October 2014 as the fall in the value of sterling since Britain’s vote to leave the European Union pushed up the price of imports.

Last month the Bank of England said that inflation could increase to around 2.8% by mid-2018.

The BoE is expected to keep interest rates on hold at its upcoming meeting on Thursday.

The pound ticked higher after the report, with GBP/USD up 0.2% at 1.2705 from 1.2693 earlier.

4. European markers boosted by Italy bank stocks

European stocks were buoyed by gains in Italian bank stocks after the country’s largest lender Unicredit (MI:CRDI) unveiled an aggressive restructuring plan.

The turnaround plan added to hopes that the ailing bank sector can get over its problems.

Germany's DAX was up 0.86%, London’s FTSE 100 rose 0.52%, Italy’s FTSE MIB advanced 1.92% and France’s CAC 40 added 0.81%.

5. U.S. futures point to higher open on Wall Street

Wall Street futures pointed to higher open for the major U.S. indexes.

The Dow futures were up 72 points or 0.37%, S&P 500 futures rose 6.75 points or 0.30%, while the tech-heavy Nasdaq 100 futures added 17.87 points or 0.36%.

There were no major U.S. economic reports scheduled for release on Tuesday.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.