Broadgate: Market News 27/3
27 March 2012
Consumer confidence fell this month as gas prices climbed, a release at 10 a.m. from the New York-based Conference Board may show, according to economists’ estimates.
However natural gas slid to the lowest intraday price in more than 10 years on speculation that a government report this week will show a growing inventory surplus. Crude oil futures in New York fell for the first time in three days, sliding 0.2 percent to $106.85.
Japanese stock futures and Australian equities advanced after German business confidence unexpectedly climbed and after Federal Reserve Chairman Ben S. Bernanke said that the U.S. still needed accommodative monetary policy. Chinese equities traded in the U.S. advanced for a second day with anticipation that further U.S. monetary policy easing will spur demand for goods from the world’s biggest exporter.
European Central Bank President Mario Draghi said that euro-area governments should continue to take “decisive measures.” Speaking in Berlin yesterday, he explained that “no single institution can carry the burden of addressing a set of challenges that are simultaneously economic, financial and fiscal.”
Fed Bank of New York President Bill C. Dudley and Steven Kamin, director of the Fed Board’s division of international finance, are due to speak at a hearing in Washington on euro-area aid.
The information set out herein has been obtained from various public sources and is by way of information only. Broadgate Financial can accept no liability of any sort in relation thereto and readers should obtain their own verification of any statement before making any decision which may have any financial or other impact.
Neither the information nor the opinions herein constitute, or are they to be construed as, an offer or a solicitation of an offer to buy or sell investments.