October 2016 financial news – AG Markets

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October 2016 financial news – AG Markets

Outubro 2016 notícias financeiras

By the start of the earnings season on Wall Street, the rises are paralyzed in the stock exchanges yesterday, the result season starts with Alcoa. There are forecasts of specialists predict where some declines in profits in companies in the S & P 500 by about 2.1%, but despite these slumps in profits Wall Street maintains its historic record.

Generally, the stocks exchange in Europe show slight benefit cuts, with 25 points closed yesterday the FTSE 100. It has to do with companies related to raw materials are benefited due to the rebound in oil prices. Crude oil reached new highs in relation to recent times, around $ 54, after Russia joined of the decision to cuts the production organized by OPEC. As the barrel of Brent closed near $ 53 and West Texas crude oil remains above $ 51.

An important fact for oil privatization is 5 percent of the Saudi Aramco oil company, planned for 2018, will be the largest IPO ever recorded in the world.

Philippines stocks were lower after the close on Tuesday, as losses in the Holding Firms, Industrials and Property sectors led shares lower. At the close in Philippines, the PSEi Composite fell 0.18% to hit a new 3-months low. Japan stocks were lower after the close on Tuesday, as in the sectors led shares. At the close in Tokyo, the Nikkei 225 unchanged 0.00%. Taiwan stocks were lower after the close on Tuesday, At the close in Taiwan, the Taiwan Weighted lost 0.50%.

Oil prices were lower during European hours on Tuesday, but remained supported near a one-year high amid growing expectations of an output cut by major global oil producers. Oil prices jumped as much as 3 percent on Monday, with Brent hitting a one-year peak, after Russia and Saudi Arabia both said a deal between the Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC members like Russia in curbing crude output was possible.

Gold prices were marginally higher during Europe’s session on Tuesday, but struggled to move away from last week’s four-month lows amid indications the Federal Reserve is gearing up to hike interest rates in the coming months. Gold for December delivery on the Comex division of the New York Mercantile Exchange tacked on $1.55.

The dollar moved higher against the other major currencies in subdued trade on Tuesday, as hopes for a U.S. rate hike before the end of the year continued to support the greenback and as investors awaited the minutes of the Federal Reserve’s latest meeting, due on Wednesday. The yen held weaker and the Aussie fell further in Asia on Tuesday after regional data sets as investors turn focus to the release later this week of the minutes of the Fed September board meeting.

Japan’s parliament approved on Tuesday a $32 billion extra budget for this fiscal year that will help fund Prime Minister Shinzo Abe’s economic stimulus package. The 3.287 trillion-yen ($31.94 billion) budget, the second supplementary budget for the year that ends in March 2017, will be mostly funded by 2.75 trillion yen in construction bonds to finance infrastructure spending.

The U.S. Federal Reserve should engineer monetary policy to spur inflation to rise above its two-percent target because the costs of doing so are less than in past decades, Chicago Federal Reserve Bank President Charles Evans said on Tuesday.


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