Pre-Market Activity: Crude oil futures under pressure

Pre-Market Activity: Crude oil futures under pressure

Pre-market trading activity and scheduled economic data that may have an impact on the global financial markets. ​

WORLD HEADLINES – Stocks climbed as business confidence in Germany proved more resilient than economists predicted in the month after Britain voted to leave the European Union. Bonds fell with gold before central bank meetings in the U.S. and Japan this week.

STOCKS – The Stoxx 600 traded slightly higher during the overnight trading session with trading volumes 46 percent less than the 30-day average.

BONDS – Treasuries maturing in a decade fell before an auction of $26 billion of two-year notes, the first of $103 billion of planned offerings of coupon-bearing securities this week.

COMMODITIES – Oil prices fell on Monday, holding near two-month lows amid worries that a global glut of crude and refined products would weigh on markets for some time. Barclays bank said global oil demand in the third quarter of 2016 was expanding at less than a third of the year-earlier rate, weighed down by anemic economic growth. Demand support from developed economies had faded, while growth from China and India had slowed, Barclays said. Morgan Stanley added that headwinds were growing for the second half of the year, leading to expectations of lower oil prices. It pointed to resilient U.S. supply, falling demand for transport fuels, and oversupply by refiners.


CURRENCIES – The euro traded higher retracing some of Friday’s losses while the Canadian dollar traded lower with crude oil.


ECONOMIC DATA – NZD Trade Balance due at 18:45 ET.


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