Here are the most important financial market events for March 16 that every trader needs to know:
Oil Producers’ Meeting on April 17
OPEC and non-OPEC producers have agreed to conduct a meeting on April 17 in Doha, Qatar, even without Iran’s attendance. The said meeting will center on the plan to freeze output.
As of 6:00 AM ET, Brent has surged by 2.07 percent or 80 cents, to reach $39.54 per barrel. Meanwhile, WTI crude has rallied by 2.15 percent or 78 cents, to hit $37.12 per barrel.
Fed’s Press Conference
Market players should watch out for the decision of the Federal Reserve set to be released later in the day for new guidance on the future path of interest rates.
It is widely anticipated that the US central bank will leave the rates unchanged, but the Fed could provide guidance regarding the pace of the interest rate hike over the next several months.
The Chairwoman of the Federal Reserve will hold a press conference 30 minutes after the Fed’s statement is released. Additionally, its latest predictions for interest rates and the growth of the economy will also be announced.
UK Labor Market Recovery
Unemployment in the United Kingdom held at its lowest rate for a decade, while the wage growth edged higher, signaling an improvement in the UK labor market.
According to the Office for National Statistics, in the 3 months through January, wage growth including bonuses climbed by 2.1 percent. Meanwhile, the claimant count dropped 18,000, leaving the unemployment rate at 5.1 percent—the lowest since the early part of 2006.
London Stock Exchange Group and Deutsche Boerse to Merge
On Wednesday, London Stock Exchange Group and Deutsche Boerse agreed to an all-share merger. This merger deal will create the largest securities-markets operator in Europe, amounting to over $30 billion.
The Chairman of London Stock Exchange Group Mr. Donald Brydon will be designated as the chairman of the combined group, while the Deutsche Boerse executive Carsten Kengeter will be appointed CEO.Publication source