Bay Street Likely To Open On Positive Note; Fed Policy In Focus

RTTNews | 1592 hari yang lalu

(RTTNews) - Canadian shares are likely to open on a positive note Wednesday morning, tracking positive global cues and higher bullion prices.

The focus will be on the Federal Reserve's monetary policy announcement, due at 2 PM ET.

The U.S. central bank is widely expected to hike interest rate by 50 basis points. Several analysts including those at Goldman Sachs and JP Morgan Chase expect the Fed to hike rate by 75 basis points following last week's very hot inflation numbers.

On the Canadian economic front, data from the Canada Mortgage and Housing Corporation showed housing starts in the country jumped by 8% over a month earlier to 267,330 units in April 2022.

The Canadian market turned in a weak performance on Tuesday, extending losses to a fifth straight session. The benchmark S&P/TSX Composite Index, which dropped to a low of 19,435.02, ended the session with a loss of 194.05 points or 0.98% at 19,548.51, extending losses to a fifth session.

Asian stocks ended on a mixed note on Wednesday as investors awaited the Federal Reserve's interest rate decision later in the day for clues on how aggressive the U.S. central bank intends to be in the coming months.

European markets are up firmly in positive territory with investors indulging in some bargain hunting ahead of the Federal Reserve's monetary policy announcement.

In commodities trading, West Texas Intermediate crude oil futures are down $0.56 or 0.47% at $118.37 a barrel.

Gold futures are gaining $18.70 or 1.03% at $1,832.20 an ounce, while Silver futures are up $0.511 or 2.44% at $21.465 an ounce.

baca selengkapnya

U.S. Dollar Advances As Concerns Of Rate Hike Due To Possible Higher Inflation Increase

The U.S. Dollar value edged higher on Friday as crude oil prices continued to surge for the second day supported by concerns of a potential U.S.-Iran war. Oil-driven inflation worries have led to expectations of an interest rate hike in the U.S.

RTTNews | 11 jam 33 menit yang lalu

Canadian Market Remains Weak Despite Coming Off Early Lows

The Canadian stock market's benchmark S&P/TSX Composite Index remains firmly down in negative territory Friday afternoon despite regaining a significant portion of the ground it lost in early trades. Concerns about inflation and prospects of interest rate hikes amid elevated oil prices following the latest Houthi attacks on Saudi targets weigh on sentiment.

RTTNews | 13 jam 49 menit yang lalu

Swiss Market Ends Moderately Lower

After edging up a bit at the start, the Swiss market retreated and stayed in negative territory throughout the session on Friday. Worries about inflation and possible monetary tightening by several global central banks rendered the mood cautious.

RTTNews | 14 jam 19 menit yang lalu

European Stocks Close Lower On Earnings, Weak Economic Data

The major European markets closed lower on Friday as largely weak regional PMI data, and concerns about inflation and monetary tightening amid continued rise in oil prices hurt sentiment. France's debt woes and uncertainty about returns on AI-related investments weighed as well.

RTTNews | 14 jam 41 menit yang lalu

U.S. Consumer Sentiment Deteriorates Far Less Than Previously Estimated In October

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by far less than previously estimated in the month of October. The report said the University of Michigan's consumer sentiment index for October was upwardly revised to 48.0 from a preliminary reading of 46.3.

RTTNews | 17 jam 45 menit yang lalu

Bay Street Look Headed For Weak Start

Canadian stocks are likely to open on a weak note on Friday amid concerns about inflation and prospects of interest rate hikes by the Canadian and U.S. central banks. Oil prices are up sharply, while precious metals are notably lower. Canadian retail sales data, and quarterly earnings updates, as well as U.S. PMI reports are set to make a notable impact on price movements.

RTTNews | 20 jam 3 menit yang lalu

Eurozone Private Sector Growth At 4-Month Low

The euro area private sector softened to a four-month low in October as activity in France shifted back into contraction amid tightening financial conditions and rising political pressures, flash purchasing managers' survey data from S&P Global revealed Friday. The composite output index fell to 51.9 in October from 53.1 in the previous month, falling below the economist forecast of 52.7.

RTTNews | 20 jam 21 menit yang lalu

FTSE 100 Falls 0.5% On Weak Retail Sales, Consumer Confidence Data

The FTSE 100 declined 52.73 points to 10,672.32 Friday as weak retail sales, declining consumer confidence, and Middle East tensions offset private sector expansion. Retail sales fell 0.4% in September versus forecasts of 0.1%, while consumer sentiment hit its sharpest pandemic-era drop.

RTTNews | 20 jam 24 menit yang lalu

EURUSD	1.1202	GBPUSD	1.3372
USDJPY	156.819	USDCAD	1.39976