Trading news

Trump withdraws US from Trans-Pacific Partnership






Dollar falls while Trump confirms plans to renegotiate trade deals

US financial markets closed lower on Monday on continued uncertainty about President Trump’s plans for stimulus measures for the US economy and mixed corporate reports. The dollar fell: the live dollar index data show the ICE US Dollar index, a measure of the dollar’s strength against a basket of six rival currencies, closed 0.93% lower at 101.625, the lowest in more than two months. Dow Jones industrial average slipped 0.1% to 19799.85 led by 2.6% drop in General Electric shares. S&P 500 fell 0.3% to 2265.20, with six of the main eleven sectors ending in negative territory. Energy and industrial shares were the worst performers. The Nasdaq composite index closed off session lows at 5552.94, retreating 2.39 points weighed down by a selloff in biotechnology shares.



UK Supreme Court Announces Brexit ruling today

European stocks fell on Monday with market sentiment hurt by President Donald Trump’s inauguration Friday speech deemed as protectionist. Both the euro and the British Pound strengthened against the dollar. The Stoxx Europe 600 index fell 0.4%. The DAX 30 lost 0.7% to close at 11545.75. France’s CAC 40 lost 0.6% and UK’s FTSE 100 ended 0.7% lower at 7151.18.



Asian markets mixed on US protectionism concerns

Asian stocks are mixed today after Trump’s decision to remove the US from Trans Pacific Partnership and his promise to impose a “very major” border tax on companies that move some operations overseas. Nikkei lost 0.6% to 18787.99 today, with exporter shares hurt by his ‘border tax’ comment and stronger yen against the dollar. Chinese stocks are rising with the Shanghai Composite Index 0.15% higher and Hong Kong’s Hang Seng index up 0.23% in thin trading ahead of the week-long Chinese New Year holidays, set to begin on Saturday. Australia’s All Ordinaries Index is up 0.7% as Australian dollar pulled back from two month high against the dollar.



Oil prices edge higher

Oil future prices are recovering today supported by weaker dollar with increase in US drilling activity limiting the gains. Prices ended lower yesterday on concerns US crude oil output is rising after industry group Baker Hughes reported Friday the number of working oil rigs in the US climbed by 29 last week to 551. March Brent crude lost 0.5% to $55.23 a barrel on London’s ICE Futures exchange on Monday.

IFC Markets Review





Tuesday, 24 Jan, 2017 / 10:34

Note: Company News is a promotional service of the Directory and the content isn't created by Finance Magnates.

Source : http://www.ifcmarkets.com/en/market-overview/trump-withdraws-us-from-trans-pacific-partnership?utm_source=financemagnates

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