Global Markets:
- Asian Stock Markets : Nikkei up 0.77%, Shanghai Composite up 1.56%, Hang Seng up 0.84%, ASX up 0.43%
- Commodities : Gold at $1304.00 (+0.19%), Silver at $16.55 (+0.04%), Brent Oil at $77.53 (-0.24%), WTI Oil at $68.12 (-0.13%)
- Rates : US 10-year yield at 2.846, UK 10-year yield at 1.249, Germany 10-year yield at 0.362
News & Data:
- (AUD) Private Capital Expenditure q/q 0.40% vs 0.80% expected
- (NZD) ANZ Business Confidence -27.2 vs -23.4 previous
- (CNY) Non-Manufacturing PMI 54.9 vs 54.8 expected
- (CNY) Manufacturing PMI 51.9 vs 51.4 expected
- (CAD) Overnight Rate 1.25% vs 1.25% expected
- (USD) Prelim GDP q/q 2.20% vs 2.30% expected
- (CAD) RMPI m/m 0.70% vs 2.10% expected
- (CAD) Current Account -19.5B vs -18.1B expected
- (USD) ADP Non-Farm Employment Change 178K vs 191K expected
- (EUR) Italian 10-y Bond Auction 3.00|1.5 vs 1.70|1.4 previous
- (CHF) Credit Suisse Economic Expectations 28 vs 7.2 previous
- (EUR) Spanish Flash CPI y/y 2.00% vs 1.70% expected
- (CHF) KOF Economic Barometer 100 vs 104.6 expected
- (EUR) German Prelim CPI m/m 0.50% vs 0.30% expected
- (EUR) German Retail Sales m/m 2.30% vs 0.50% expected
- Two aircraft in Pyongyang for Russian FM Lavrov’s visit
- China’s Commerce Ministry: China will reserve rights to release countermeasures
- Trump plans to impose metal tariffs on closest U.S. allies
Markets Update:
Asian stocks rebounded from a two-month trough on Thursday, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing. Investors cheered news that Italy's two anti-establishment parties are making a renewed attempt to form a coalition government and that the country also successfully auctioned five- and ten-year bonds.
The Japanese market is rising, tracking the positive cues from Wall Street as concerns about Italy's political turmoil receded. Nevertheless, a stronger yen weighed on exporters' shares. The Shanghai Composite Index made significant gains after data showed China’s factory growth in May accelerated strongly and well above forecasts to an eight-month high.
Hong Kong stocks opened solidly, though the HSI, is poised to log its third monthly drop in the past four. The Australian market is advancing following the gains on Wall Street and as higher commodity prices boosted resources stocks.
The dollar received some support as signs of easing Italian political concerns pulled U.S. Treasury yields up from multi-week lows. The euro stood little changed at $1.1658 after rallying 1 percent the previous day. The currency had sunk to $1.1510 on Tuesday, its lowest since late July 2017. Oil prices eased after rallying overnight as Russia’s central bank expressed caution on plans to boost oil supply.
Upcoming Events:
- 02:00 AM GMT – (CNY) Manufacturing PMI
- 02:00 AM GMT – (CNY) Non-Manufacturing PMI
- 02:00 AM GMT – (NZD) ANZ Business Confidence
- 02:30 AM GMT – (AUD) Private Capital Expenditure q/q
- 09:30 AM GMT – (GBP) Net Lending to Individuals m/m
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:30 PM GMT – (CAD) GDP m/m
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 01:30 PM GMT – (USD) Personal Spending m/m
- 01:30 PM GMT – (USD) Unemployment Claims
- 02:45 PM GMT – (USD) Chicago PMI
- 04:00 PM GMT – (USD) Crude Oil Inventories
- 05:45 PM GMT – (USD) FOMC Member Bostic Speaks
- 06:00 PM GMT – (USD) FOMC Member Brainard Speaks
- &more…
