March 29th, 2016

Daily Market Commentary



  • The Raw Material Price Index in Canada was down 2.6% in February.
  • The Redbook Index, which measures same-store sales growth of US General Merchandising companies, was up 3.1% and 1.5% in month-over-month terms, respectively.
  • Consumer Confidence in the US was quoted at 96.2, above estimates.
  • Private Loans in the Eurozone were up 1.6%.



  • Oil declined for a fourth day before weekly U.S. government data forecast to show increasing crude stockpiles kept supplies at the highest level in more than eight decades.
  • Gold dropped toward the lowest level in a month as investors weighed the outlook for U.S. interest rates.


  • Australia’s Qube Holdings Ltd and Canada’s Brookfield Asset Management Inc are raising a A$1-billion ($753-million U.S.) loan to help pay for the ports business of Asciano Ltd, in a carve-up of Australia’s largest ports and rail operator, people familiar with the transaction said on Tuesday. (Globe and Mail)

United States:

  • U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will resume declines, as oil prices slid and investors await a speech from Federal Reserve Chair Janet Yellen for clues on the economy and direction of monetary policy.
  • USD mixed vs its G-10 peers as investors await speeches from Fed Chair Yellen and Fed’s William later today.
  • A group of investors led by Macquarie Group Ltd. won Louisiana’s blessing to buy utility owner Cleco Corp. for $3.4 billion with two promises.
  • Foxconn Technology Group is in the final stages of negotiations to buy Sharp Corp. in a deal that could be worth about 500 billion yen ($4.4 billion).


  • European stocks gave up earlier gains as commodity and energy shares reversed earlier advances.
  • As Mario Draghi prepares to ramp up debt purchases starting Friday in his biggest assault against euro-area deflation risks, he’s about to get another sense of the magnitude of the challenge.
  • Volkswagen may suspend its dividend payment as pressure to cut costs, provide for penalty payments rises in wake of the diesel emissions scandal.
  • Asian stocks fell on low volumes as health-care companies led losses and more than two-thirds of the companies in Japan’s Topix index traded without the right to the next dividend.
  • China Shenhua Energy Co. may boost coal exports as much as eightfold as weakening domestic demand and stricter environmental rules force the company to look to overseas buyers.

*All information is taken from Bloomberg, unless otherwise noted.