Global Markets:
- Asian Stock Markets : Nikkei up 0.53%, Shanghai Composite up 0.59%, Hang Seng up 0.39%, ASX up 0.14%
- Commodities : Gold at $1301.80 (-0.11%), Silver at $16.92 (-0.22%), Brent Oil at $76.55 (+0.12%), WTI Oil at $66.25 (+0.23%)
- Rates : US 10-year yield at 2.957, UK 10-year yield at 1.408, Germany 10-year yield at 0.490
News & Data:
- (AUD) NAB Business Confidence 6 vs 11 previous
- (GBP) Goods Trade Balance -14.0B vs -11.5B expected
- (GBP) Manufacturing Production m/m -1.40% vs 0.30% expected
- Trump and Kim Jong Un will sign an agreement to acknowledge the progress of the talks and pledge to keep momentum going
- AU business confidence is starting to slide in NSW and Victoria
- Lagarde Sees Darker Clouds Over World Economy After G-7 Summit
Markets Update:
Asian markets traded higher today, as the dollar edged up to a three-week high against the yen on Tuesday amid hopes that the closely-watched U.S.-North Korea summit can pave the way towards a reduction in tensions between the two old foes.
The meeting, a key event for world markets, comes just months after they traded insults and tensions spiraled in the region over North Korea's nuclear and missile programs as it raced toward the goal of developing a nuclear-tipped missile capable of hitting the United States.
Investors are also looking ahead to key central bank meetings this week. While the U.S. Federal Reserve's two-day policy meeting begins later today, the European Central Bank and the Bank of Japan will hold their meetings on Thursday and Friday respectively. Shanghai led the region with nearly 70bps of gains.
The Japanese market is advancing following the positive lead overnight from Wall Street and on a weaker yen. Australian markets are also edging higher, with increased volumes given yesterday’s holiday.
Upcoming Events:
- 09:30 AM GMT – (GBP) Average Earnings Index 3m/y
- 09:30 AM GMT – (GBP) Claimant Count Change
- 09:30 AM GMT – (GBP) Unemployment Rate
- 10:00 AM GMT – (EUR) German ZEW Economic Sentiment
- 01:30 PM GMT – (USD) CPI m/m
- 01:30 PM GMT – (USD) Core CPI m/m
- &more…
