16 March, 2016
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.
Shares in the United States mixed as the market waited for the outcome of the U.S. economic data and as the Fed officials were set to release their statement after the report...
According to reports, Cook plans to introduce the accelerator program for iOS developers and to make known the development center for digital maps in Hyderabad. The CEO also said that he was encouraged by the results that the company is beginning to see there (India) and believe there is a lot lot more...
Amazon took another step in expanding its market influence as it opened doors in the European Union countries. Francois Saugier, Amazon director of European seller services, expressed his excitement towards the new business venture of the e-commerce juggernaut in Europe...
Europes finance ministers assembled in Amsterdam on Friday known as the Eurogroup meeting to discuss the improvement for the review of an economic adjustment program of Greece, which the Hellenic Republic obliged to pass in order to receive the following tranche of the loan...
The Aussie and New Zealand dollars inched lower against the greenback on Wednesday, as the prices of oil retreated after the Kuwaiti oil workers strike ended...
The International Monetary Fund (IMF) wants the European partners of Greece to grant Athens relief on its debt, which it perceives to be highly unsustainable...
On Friday, stocks and bond yields recoil as oil prices strengthens, but remained on the trail in trimming over the course of a marking and volatile week that has been witnessed by the increasing Japanese yen against the dollar...
The greenback traded higher against a basket of currencies as the market remained watchful on the outcome of the Federal Reserve’s march Policy meeting happening today and as economic growth ached the euro zone...
Gold futures extended rallies from the previous session in European trading hours on Wednesday, edging up to a 1-week high as market players lowered their expectations on the pace of interest rate hikes this year...