Global Markets:
- Asian Stock Markets : Nikkei up 0.57%, Shanghai Composite up 1.80%, Hang Seng up 1.07%, ASX up 0.25%
- Commodities : Gold at $1298.45 (-0.34%), Silver at $15.27 (-0.33%), Brent Oil at $67.14 (-0.03%), WTI Oil at $58.69 (-0.22%)
- Rates : US 10-year yield at 2.600, UK 10-year yield at 1.209, Germany 10-year yield at 0.084
News & Data:
- (USD) Prelim UoM Consumer Sentiment 97.8 vs 95.5 expected
- (CAD) Manufacturing Sales m/m 1.00% vs 0.40% expected
- Japan exports fall for third month on waning external demand, raises economic risks
- China sets Yuan Reference Rate against the USD at 6.7088, up from Friday’s at 6.7167
Markets Update:
Asian stock markets are in positive territory on Monday following the gains on Wall Street Friday amid optimism about U.S.-China trade talks as well as indications of more Chinese economic stimulus. China’s Xinhua news agency reported that the U.S. and China have made further “concrete progress” on the text of the trade agreement between the two sides.
Mainland Chinese shares recovered from their earlier slip to rise by the end of the morning, as the Shanghai composite jumped more than 1.8 percent and the Shenzhen component gained 2.1 percent. Hong Kong’s Hang Seng index rose around 1.1 percent. Shares of rail operator MTR declined more than 0.7 percent after a train collision disrupted services in the city.
The Nikkei 225 in Japan rose 0.6 percent as shares of index heavyweights Fast Retailing, Softbank Group and Fanuc all advanced. The Topix index also added 0.6 percent. Over in South Korea, the Kospi slipped 0.1 percent as shares of industry heavyweight Samsung Electronics declined more than 1 percent. The ASX 200 in Australia was higher by quarter of a percent.
A marked decline in Treasury yields has dragged on the dollar, leaving it at 111.53 yen from a top of 111.89 on Friday. Against a basket of currencies, the dollar was pinned at 96.498 having shed 0.7 percent last week.
In commodity markets, spot gold eased slightly to $1,298.45 per ounce. Oil prices were just off their highest for the year so far.
Upcoming Events:
Monday, March 18, 2019
- 09:00 PM GMT – (NZD) Westpac Consumer Sentiment
- 11:00 PM GMT – (AUD) RBA Assist Gov Kent Speaks
Tuesday, March 19, 2019
- 01:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 01:30 AM GMT – (AUD) HPI q/q
- 10:30 AM GMT – (GBP) Average Earnings Index 3m/y
- 10:30 AM GMT – (GBP) Unemployment Rate
- 11:00 AM GMT – (EUR) German ZEW Economic Sentiment
- Tentative – (GBP) Parliament Brexit Vote
- 10:45 PM GMT – (NZD) Current Account
Wednesday, March 20, 2019
- 01:00 AM GMT – (AUD) RBA Assist Gov Bullock Speaks
- 10:30 AM GMT – (GBP) CPI y/y
- 10:30 AM GMT – (GBP) PPI Input m/m
- 10:30 AM GMT – (GBP) RPI y/y
- 07:00 PM GMT – (USD) FOMC Economic Projections
- 07:00 PM GMT – (USD) FOMC Statement
- 07:00 PM GMT – (USD) Federal Funds Rate
- 07:30 PM GMT – (USD) FOMC Press Conference
- 10:45 PM GMT – (NZD) GDP q/q
Thursday, March 21, 2019
- 01:30 AM GMT – (AUD) Employment Change
- 01:30 AM GMT – (AUD) Unemployment Rate
- 09:30 AM GMT – (CHF) SNB Monetary Policy Assessment
- 09:30 AM GMT – (CHF) Libor Rate
- 10:00 AM GMT – (CHF) SNB Press Conference
- 10:30 AM GMT – (GBP) Retail Sales m/m
- 10:30 AM GMT – (GBP) Public Sector Net Borrowing
- All Day – (EUR) EU Economic Summit
- 01:00 PM GMT – (GBP) MPC Official Bank Rate Votes
- 01:00 PM GMT – (GBP) Monetary Policy Summary
- 01:00 PM GMT – (GBP) Official Bank Rate
- 01:00 PM GMT – (GBP) Asset Purchase Facility
- 01:00 PM GMT – (GBP) MPC Asset Purchase Facility Votes
- 01:30 PM GMT – (USD) Philly Fed Manufacturing Index
Friday, March 22, 2019
- 09:15 AM GMT – (EUR) French Flash Services PMI
- 09:15 AM GMT – (EUR) French Flash Manufacturing PMI
- 09:30 AM GMT – (EUR) German Flash Manufacturing PMI
- 09:30 AM GMT – (EUR) German Flash Services PMI
- 10:00 AM GMT – (EUR) Flash Manufacturing PMI
- 10:00 AM GMT – (EUR) Flash Services PMI
- 01:30 PM GMT – (CAD) CPI m/m
- 01:30 PM GMT – (CAD) Core Retail Sales m/m
- &more…
