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These five developments are influencing market sentiment today

These five developments are influencing market sentiment today

Global markets have gone eerily quite as Jackson Hole Symposium draws near where US Federal Reserve Chair Janet Yellen is expected to remark on Fed's policy stance.

Photo: Reuters Photo: Reuters

Global markets have gone eerily quite as Jackson Hole Symposium draws near where US Federal Reserve Chair Janet Yellen is expected to remark on Fed's policy stance. Back home, derivatives contracts for August series will expire by the end of Today's session.

Below is a wrap-up of five developments that you must know to start your trading day:

 

  1. Calm before the storm: The markets have been eerily calm in the last couple of days as investors await the Fed Chairwoman Janet Yellen's speech at Jackson Hole conference. Speculation is rife that Yellen will take a hawkish stance in the vein of recent comments from some Fed officials, including Vice Chairman Stanley Fischer.
  2. Mark Mobius warns BoJ's helicopter money in the offing: Mark Mobius, Templeton investment guru, told Bloomberg Bank of Japan may bring 'helicopter money' as soon as next month as yen is expected to surge against dollar because US Federal Reserve likely refrain from raising rates anytime soon. Helicopter money is an unconventional monetary policy measure, under which central banks print money and give it to the public, and even create incentives for them to spend it.
  3. Hong Kong stocks retreat: Hong Kong stocks posted their biggest one-day decline in three weeks on Wednesday, as Asian markets fell on profit-taking after strong US housing data overnight was seen as increasing the chances of an interest rate hike in coming months. The market hit nine-month highs last week.
  4. Oil prices: Crude prices edged lower on Thursday as brimming US and Asian fuel inventories returned investors' attention to a large global supply overhang, cutting short a price rally and restricting Brent crude futures to below the $50 a barrel mark.
  5. La Nina emerges: Indian Meteorological Department on Wednesday said India will receive normal rainfall over the 2016 monsoon season, not surplus as previously expected, with the chances of a La Nina weather pattern emerging over the period seen as unlikely.  A forecast for above-average rains had stoked fears of crop damage during harvest, but with normal rainfall farmers can reap bumper crops.

(With inputs from Reuters)

 

Disclaimer: Business Today provides stock market news for informational purposes only and should not be construed as investment advice. Readers are encouraged to consult with a qualified financial advisor before making any investment decisions.
Published on: Aug 25, 2016, 8:08 AM IST
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