21 Jun Odilia Business Advisors – Morning Report
Odilia Business Advisors
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.”
Disclaimer: This information is not intended to be used as trading advice by anybody and should not in any way be treated as a recommendation to trade. This information contained in this newsletter does not constitute or form part of and should not be construed as, any offer for purchase or sale of any foreign currency or their derivatives. While the information in the newsletter has been compiled from sources believed to be reliable and in good faith, readers may note that the contents thereof including text, graphics or other items are provided without warranties of any kind. Odilia Business Advisors LLP expressly disclaims any warranty as to the accuracy, correctness, reliability, timeliness, merchantability or fitness for any particular purpose, of this update. Odilia Business Advisors LLP shall also not be liable for any damage or loss of any kind, howsoever caused as a result (direct or indirect) of the use of the information or data in this news alteration, transmission, photocopied distribution in part or in whole or reproduction of any form of this update or any part thereof without prior consent of Odilia Business Advisors LLP is prohibited.