Morning Update – 14/06/2017 – by Arjun Lakhanpal

June 14, 2017 by

Morning all.. Wall St closed up 0.45% with the NASDAQ climbing 0.75% as bargain hunters returned and U.S. Attorney General Jeff Sessions testifying to lawmakers that he never spoke with Russian officials concerning “any type of interference” with the 2016 presidential campaign. Meanwhile in Asia the markets were extremely quiet with the Nikkei closing unchanged on the day as most wait for US CPI and the FOMC meeting later today. Asian equities were mixed, with solid gains in Australia and New Zealand offset by China, where markets weakened despite data showing resilience in retail sales and industrial output. The dollar held declines and Treasuries edged higher. Economic data from China were largely in line with forecasts, but stocks slipped on concerns regulators will place further curbs on insurers’ investments. The yen was little changed, while sterling fell after rising for the first time since the U.K. election. Oil also resumed its decline as industry data showed U.S. crude stockpiles expanded, exacerbating an inventory overhang. Fed policy makers are expected to raise their benchmark interest rate for the second time this year on Wednesday. Since that’s widely anticipated, the more market-sensitive elements of the meeting will relate to signals on future policy — either the path for rates or plans to cut the $4.5 trillion balance sheet. Meanwhile this morning we get UK Unemployment data and EU Industrial Production. Looks like being a quiet one till the US CPI data later.. Good luck..