Global Markets:
- Asian Stock Markets : Shanghai Composite down 0.01%, Hang Seng down 0.82%, ASX down 0.52%
- Commodities : Gold at $1313.40 (+0.05%), Silver at $16.48 (+0.20%), WTI Oil at $73.65 (+0.04%), Brent Oil at $68.47 (+0.06%)
- Rates : US 10-year yield at 2.948, UK 10-year yield at 1.401, Germany 10-year yield at 0.538
News & Data:
- (CNY) Caixin Services PMI 52.9 vs 52.2 expected
- (USD) ISM Non-Manufacturing PMI 56.8 vs 58.1 expected
- (USD) Unemployment Claims 211K vs 225K expected
- (USD) Prelim Unit Labor Costs q/q 2.70% vs 3.10% expected
- (USD) Prelim Nonfarm Productivity q/q 0.70% vs 0.90% expected
- (CAD) Trade Balance -4.1B vs -2.3B expected
- (EUR) Core CPI Flash Estimate y/y 0.70% vs 0.90% expected
- (EUR) CPI Flash Estimate y/y 1.20% vs 1.30% expected
- (GBP) Services PMI 52.8 vs 53.5 expected
- US economists urge Trump to avoid protectionist mistakes of the 1930s
- Mnuchin Says U.S., China in `Very Good Conversation' on Trade
- Tesla shares sink almost $3 billion after Musk ignores 'boring' questions
Markets Update:
Asian markets lower in quiet Friday trade. Regional activity affected by closure of Japanese markets for public holiday. Improvement in China services PMI failed to register on mainland markets, as focus remains on US-China trade negotiations. US officials were positive on the first day of talks, though at this stage prospects for a quick resolution appear remote.
Banks weighing on ASX following a recent reprieve. Meanwhile, Aussie dollar has posted modest gains after RBA upgraded near-term underlying inflation forecasts.
Samsung dragging Kospi lower following stock split. Analysts attribute some of the decline to increased trading volumes amid lingering concerns over the memory chip market. Chinese shares nudged lower, with the blue-chips off 0.2 percent and Shanghai’s SSE Composite down 0.1 percent.
The dollar ran into some profit-taking after a strong week of gains as financial markets turned their attention to looming U.S. payrolls data for fresh catalysts. Crude dipped a shade, whereas Gold was a tinge higher
Upcoming Events:
- 12:30 PM GMT – (USD) Average Hourly Earnings m/m
- 12:30 PM GMT – (USD) Non-Farm Employment Change
- 12:30 PM GMT – (USD) Unemployment Rate
- 01:00 PM GMT – (EUR) German Buba President Weidmann Speaks
- 02:00 PM GMT – (CAD) Ivey PMI
- 04:00 PM GMT – (USD) FOMC Member Dudley Speaks
- 07:00 PM GMT – (USD) FOMC Member Williams Speaks
- 09:30 PM GMT – (USD) FOMC Member Quarles Speaks
- &more…
