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Top 5 News Monday

19/12/2016 17:36

1. The dollar rally stalled as investors take profits

USD Index, which tracks the greenback against a trade-weighted basket of six major rivals, fell 0.1% to 102.82 (as of 11:00 GMT), as investors take profits on the eve of holidays.

Late last week, he jumped to 103.55, the highest since December 2002, after the Federal Reserve raised interest rates and made it clear that it intends to speed up the pace of recovery in 2017.

In tandem with the yen the dollar fell slightly to 117.45, taking a breather after the jump last week to 11-month high of 118.65.

At the same time, the euro was little changed at 1.0445, while on the nearly 14-year low of 1.0365 last week.

2. Focus speech Yellen

Federal Reserve Chairman Janet Yellen is to speak today at 18:30 GMT in Baltimore on the labor market.

Her voice sounded just a few days after the US central bank raised interest rates and made it clear that will accelerate the pace of further increase in the next year.

Investors are hoping that it will give them more insight into the Fed's strategy for 2017.

3. World stock markets are calm on the eve of the festive season

Futures on US stock indices point to a modest rise at the opening of trading on Monday morning, with the approach of Dow to around 20,000 at the beginning of the last full week of trading this year.

At the same time, European and UK shares are mostly reduced to mid-morning trading, falling from a peak in 2016, as the financial sector in the region was under the pressure of events in Italy.

Shares Monte dei Paschi collapsed by more than 8%, as the bank for the last time tried to attract € 5 billion ($ 5.2 billion), to avoid applying for financial assistance from the state.

China's Shanghai Composite closed 0.15% decline, while the Japanese Nikkei closed 0.05% decline.

4. Oil is trading below the 17-month high in anticipation of deteriorating market conditions

Oil prices are seeing an increase on Monday amid signs that the major oil producers will adhere to its obligations under the production reduction.

Brent crude oil has risen by 31 cents, or 0.56%, to $ 55.52 a barrel, trading near 17-month high of $ 57.89, reached earlier this week.

WTI crude oil rose 29 cents, or 0.55%, to $ 53.24, trading about 1.5-year peak of $ 54.51 reached on December 12.

5. Business sentiment in Germany close to 3-year high

In December, the index of business confidence in Germany grew to a peak in April 2014, suggesting that the company's owners are not affected by the victory of Donald Trump in the presidential race in the US, showed data released on Monday.

Research Institute IFO said that its German business climate index rose to 111.0 this month from 110.4 in November, implying a confident state of Europe's largest economy before 2017.