Equities<\/p>\n
Global shares traded steadily near record highs ahead of an action-packed week that looks certain to see the U.S. Federal Reserve resume its easing cycle.<\/p>\n
The Bank of Canada is also expected to cut rates by a quarter point this week, while markets see the Bank of Japan and the Bank of England holding rates steady.<\/p>\n
Wall Street futures were mixed with the Nasdaq pointing lower after notching another record high on Friday.<\/p>\n
TSX futures pointed higher after Canada\u2019s main stock index closed down in the previous session.<\/p>\n
\u201cThe key question for the September [Fed] meeting is whether the committee will signal that this is likely the first in a series of consecutive cuts,\u201d said David Mericle, chief U.S. economist at Goldman Sachs.<\/p>\n
\u201cWe expect the statement to acknowledge the softening in the labor market but do not expect a change to the policy guidance or a nod to an October cut.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.52 per cent in morning trading. Britain\u2019s FTSE 100 slid 0.1 per cent, Germany\u2019s DAX gained 0.48 per cent and France\u2019s CAC 40 advanced 1.13 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei was closed for a holiday, while Hong Kong\u2019s Hang Seng rose 0.22 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices edged higher as investors assessed the impact of Ukrainian drone attacks on Russian refineries, while U.S. President Donald Trump said he was prepared to impose sanctions on Russia if NATO nations stop buying Russian oil.<\/p>\n
Brent crude futures rose 0.5 per cent to US$67.31 a barrel. West Texas Intermediate (WTI) crude was at US$63.01 a barrel, up 0.5 per cent.<\/p>\n
\u201cThe attack suggests a growing willingness to disrupt international oil markets, which has the potential to add upside pressure on oil prices,\u201d JPMorgan analysts led by Natasha Kaneva said in a note, referring to the attack on Primorsk.<\/p>\n
In other commodities, spot gold was steady at US$3,642.65 an ounce. U.S. gold futures for December delivery were down 0.2 per cent at US$3,680.20.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar strengthened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 72.15 US cents to 72.30 US cents in early trading. The Canadian dollar was down about 0.24 per cent against the greenback over the past month. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, was little changed at 97.56. <\/p>\n
The euro edged up 0.04 per cent to US$1.1740. The British pound gained 0.17 per cent to US$1.3582. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 4.071 per cent. <\/p>\n
Economic news<\/p>\n
China retail sales, industrial production and fixed asset investment<\/p>\n
Euro zone trade surplus<\/p>\n
(8:30 a.m. ET) Canada\u2019s manufacturing sales and new orders for July. Estimates are month-over-month gains of 1.8 per cent and 2.0 per cent, respectively.<\/p>\n
(8:30 a.m. ET) Canadian wholesale trade for July. Estimate is a rise of 1.3 per cent from June.<\/p>\n
(8:30 a.m. ET) Canadian new motor vehicle sales for July. Estimate is a year-over-year increase of 6.5 per cent.<\/p>\n
(8:30 a.m. ET) U.S. Empire State Manufacturing Survey for September.<\/p>\n
(9 a.m. ET) Canada\u2019s existing home sales and average prices for August. Estimates are rises of 2.0 per cent and 1.0 per cent year-over-year, respectively.<\/p>\n
(9 a.m. ET) Canada\u2019s MLS Home Price Index for August. Estimate is a decline of 3.5 per cent year-over-year.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global shares traded steadily near record highs ahead of an action-packed week that looks certain to see…\n","protected":false},"author":2,"featured_media":145334,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3244,49,48,3245,3237,3240,2640,3242,3246,166,3247,44,3241,3239,3243,3238],"class_list":{"0":"post-145333","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-bonds","9":"tag-ca","10":"tag-canada","11":"tag-canadian-dollar","12":"tag-dow-jones","13":"tag-equities","14":"tag-futures","15":"tag-gold","16":"tag-loonie","17":"tag-nasdaq","18":"tag-newnewsletter","19":"tag-news","20":"tag-oil","21":"tag-sd","22":"tag-silver","23":"tag-tsx"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/145333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=145333"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/145333\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/145334"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=145333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=145333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=145333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}