Global Markets:
- Asian Stock Markets : Nikkei down 0.60%, Shanghai Composite up 0.29%, Hang Seng up 0.20%, ASX down 0.39%
- Commodities : Gold at $1315.80 (-0.15%), Silver at $16.32 (-0.03%), WTI Oil at $66.57 (+0.79%), Brent Oil at $62.67 (+0.87%)
- Rates : US 10-year yield at 2.865, UK 10-year yield at 1.443, Germany 10-year yield at 0.567
News & Data:
- (AUD) HPI q/q 1.00% vs 0.10% expected
- (NZD) Westpac Consumer Sentiment 111.2 vs 107.4 previous
- (AUD) CB Leading Index m/m -0.10% vs -0.30% previous
- (EUR) Trade Balance 19.9B vs 22.6B expected
- (EUR) Italian Trade Balance -0.09B vs 4.87B expected
- (EUR) Italian Industrial Production m/m -1.90% vs -0.50% expected
- (GBP) Rightmove HPI m/m 1.50% vs 0.80% previous
- Premier Li Keqiang promises China's economy 'will open even wider,' Beijing will eliminate import tariffs on drugs
- Mark Zuckerberg's Net Worth Drops $6 Billion In Response To Facebook Data Scandal
Markets Update:
Asian markets traded in the red today, echoing sentiment in the Wall Street, which was dragged by Facebook and other tech majors, following reports that Facebook had allowed improper access to data and may be more strictly regulated in the coming days. Investors are also looking forward to Chairman Powell’s first Fed meeting, which starts today – although outcomes are only expected tomorrow.
Pharma was the saving grace in an otherwise falling Chinese market – pharma gains were driven by positive earnings. In Australia, the RBA minutes went largely unnoticed, and miners continue to drag the indices, given iron ore volatility,
The dollar was largely flat, with no big moves before the fed announcements. The Euro gained on reports of ECB officials shifting their debate to the expected path of interest rates. The Sterling also made gains, after the EU and Britain agreed to a 21 month post Brexit transition period.
Then yen traded flat, with the riskiness of the ‘safe-haven’ currency increased by the ongoing political scandal. Oil prices were flat, although the tensions between Saudi Arabia and Iran are expected to dictate its movement in the coming days.
Upcoming Events:
- 12:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 12:30 AM GMT – (AUD) HPI q/q
- 04:15 AM GMT – (AUD) RBA Assist Gov Bullock Speaks
- 09:30 AM GMT – (GBP) CPI y/y
- 09:30 AM GMT – (GBP) PPI Input m/m
- 10:00 AM GMT – (EUR) German ZEW Economic Sentiment
- All Day GMT – (All) G20 Meetings
- Tentative – (NZD) GDT Price Index
