Top 5 Things to Know in the Market on Monday

Here are the top five things you need to know in financial markets on Monday, February 13:

1. Dollar hits 2-week high against yen on Trump relief
The dollar rose to a two-week high against the yen on Monday, with the market breathing a sigh of relief after a closely watched two-day U.S.-Japan summit held over the weekend was seen to have ended smoothly.
A senior Japanese government spokesman said U.S. President Donald Trump and Japanese Prime Minister Shinzo Abe did not discuss currency issues and that Trump did not request a bilateral trade deal.
There was concern prior to the summit that Trump would reiterate accusations that Japan was one of several countries devaluing their currencies to the disadvantage of the U.S.
The dollar was up around 0.5% against the yen at 113.76 in early New York morning hours (USD/JPY). The pair rose to as high as 114.17 during the Asian trading session, a level not seen since January 30.
2. Global stocks push higher as 'Trump trade' returns
In Asia, markets climbed to their highest in more than 18 months, as recent actions by President Donald Trump helped soothe investor worries about ties between the U.S. and its key Asian trading partners.
Meanwhile, European equities advanced in mid-morning trade, with the benchmark index heading for a more-than-one-year high on optimism over President Donald Trump’s softer stance toward his key Asian trading partners.
Elsewhere, U.S. stock market futures pointed to a higher open on Monday morning, on pace to continue their recent run of record-highs, as investors bet that the U.S. president's tax reform plans will boost economic growth and corporate profits.
3. Oil lower as traders await monthly OPEC report
Oil prices edged lower on Monday, as investors await a monthly report from the Organization of Petroleum Exporting Counties for further evidence that crude producers are adhering to planned output cuts.
U.S. crude was down 30 cents, or around 0.5%, to $53.59, while Brent shed 28 cents to $56.42 a barrel.
OPEC is scheduled to publish its first assessment of its January production in its monthly oil market report at 7:05AM ET (12:05GMT) on Monday.
Oil prices rallied on Friday on reports that the oil cartel has delivered more than 90% of pledged oil output curbs in January, making a strong start to implementation of its first production cut in eight years.
4. Copper soars to 20-month high on supply concerns
Copper futures rallied to the highest level since May 2015 on Monday, amid concerns over an ongoing strike at the Escondida copper mine in Chile, the largest in the world.
The mine, which is owned by BHP Billiton (LON:BLT), produces roughly 5% of the world's total copper supply.
Prices of the red metal rose 1.7 cents, or about 0.6%, to $2.785 a pound in early U.S. morning hours. It touched a session high of $2.822 during Asian trade.
The workers union has warned that the strike could be lengthy, potentially affecting global supplies.
5. EU raises 2017 growth, inflation forecasts
The European Commission raised its forecasts for growth and inflation for the euro zone on Monday, despite what it called 'exceptional risks' from Brexit, upcoming European elections and the new administration in the U.S.
In its new winter forecast, the EC said it now expects the euro area economy to grow by 1.6% this year, up from 1.5% in its autumn forecast. Growth is expected to accelerate to 1.8% in 2018, up from 1.7%.
The Commission raised its euro zone inflation forecast to 1.7% this year from 1.4% previously.

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