The BSE Sensex and the Nifty rose 2% and 3%, respectively, in 2016.
Consumer confidence levels in India rose to 136 in 4Q16 as compared 133 in 3Q16, according to Nielsen’s global consumer confidence index report.
Equity markets trended lower after the Fed’s March meeting minutes were reported. In the minutes, some FOMC members sound concerned about the rise in equities.
Markets will be monitoring any comments from the Fed going forward, and every future meeting will likely be lively in terms of the possibility of another rate hike.
The Fed has started the rate normalization process only recently and has a long way to go before the rates come back to pre-Lehman-collapse levels.
The minutes from the FOMC meeting on March 14 and 15 were reported on April 5 and revealed the tone of the conversation among members to be hawkish.
The demand for nitrogen fertilizers is expected to see an upward trend in 2017, though right now, there’s weak sentiment in the outlook for nitrogen.
For 2017, Mosaic (MOS) forecasts that global potash demand to be in the range of 61 million–63 million metric tons. This level would be higher than in 2016.
From 2010 to 2015, phosphate demand continued to grow, but at a slower pace—1.4% annually. In 2016, global phosphate demand grew 2.5% YoY.
Demand for corn over the past decade has grown at an average annual rate of 3.2%. Over the next decade, Monsanto projects this growth to slow.
Corn futures were trading at $3.6 per bushel, which is not too different from where they were trading one year ago.
Rising farm incomes imply higher margins for farmers, who may, in turn, spend more on fertilizers to capitalize on higher prices.
Europe’s sluggish economic recovery over the past few years in the wake of the global financial crisis had seen investments flowing out of the Eurozone.
Since 1H16, the UK’s vote to exit the EU and the continued populist stance in the Eurozone seem to have improved investment sentiments in the region.
Global recovery and resilient domestic demand are expected to support Eurozone (EZU) (FEZ) recovery in 2017.
Eurozone inflation expectations seem to have risen from the low levels of 2015, and global factors appear to be helping Europe’s inflation get back on track.
There are several important economic indicators that investors should watch for this week like US manufacturing PMI and Japan (EWJ) (DXJ) manufacturing PMI.
According to a report from the University of Michigan, the US Consumer Sentiment Index improved in March 2017.
According to the EIA’s (Energy Information Administration) report on March 29, 2017, US crude oil inventories rose 0.87 MMbbls (million barrels) in the week ended March 24, 2017.
Germany’s Ifo Business Climate Index strengthened to 112.3 in March 2017 compared to 111 in February 2017.