• MTS Economic News_20170321

    21 Mar 2017 | Economic News

• The dollar was on the defensive in Asian trading on Tuesday, after Chicago Federal Reserve President Charles Evans reinforced the perception that the U.S. central bank won't accelerate the pace of its interest rate hikes.

The dollar index, which tracks the greenback against a basket of six major rivals, edged down 0.1 percent to 100.30 after falling as low as 100.02 overnight, its lowest since Feb. 7.

• China this year may publish rules on outbound investment by Chinese firms that would spell out the sectors in which investing is encouraged and those where it is restricted, state media reported on Tuesday.

• China's economic growth is likely to slow to 6.5 percent this year and cool further to 6.3 percent in 2018, the OECD said, though exports are set to pick up as global demand strengthens.

• Oil prices rose on Tuesday on expectations that an OPEC-led production cut to prop up the market could be extended, while strong demand would also work to slowly erode a global fuel supply overhang.

Prices for front-month Brent crude futures, the international benchmark for oil, were at $51.97 per barrel at 0746 GMT, up 35 cents, or 0.68 percent, from their last close.

U.S. West Texas Intermediate (WTI) crude futures were up 28 cents, or 0.58 percent, at $48.50 a barrel.


Reference: Reuters


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