Odilia Business Advisors – Morning Report

21 Jun Odilia Business Advisors – Morning Report


Odilia Business Advisors
Morning Report

 21 June 2017

Asian bourses were in the red in early Wednesday trade following MSCI’s decision to add mainland Chinese stocks to its emerging markets index gradually and as oil prices slipped around 2 percent overnight.

The dollar traded at 97.747 against a basket of rival currencies, after trading as high as 97.871 in the previous session. People’s Bank of China (PBOC) set the Yuan reference rate at 6.8193 vs. Tuesday’s fix of 6.8096.

Markets are also parsing through mixed signals from Fed speak overnight. Chicago Fed President Charles Evans told CNBC on Tuesday the central bank could wait until the end of the year before making a decision on increasing interest rates further.

Boston Fed President Eric Rosengren, however, sounded more hawkish at a conference on Tuesday, where he said low interest rates meant that policy would be “less capable of offsetting negative shocks.”

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