Global Markets:
- Asian Stock Markets : Nikkei down 0.88%, Shanghai Composite down 0.82%, Hang Seng down 1.91%, ASX up 0.49%
- Commodities : Gold at $1283.15 (+0.14%), Silver at $14.85 (-0.09%), Brent Oil at $69.91 (-0.65%), WTI Oil at $61.74 (-0.61%)
- Rates : US 10-year yield at 2.469, UK 10-year yield at 1.134, Germany 10-year yield at -0.048
News & Data:
- (CNY) New Loans 1020B vs 1175B expected
- (CNY) CPI y/y 2.50% vs 2.50% expected
- (CNY) Trade Balance 94B vs 235B expected
- (NZD) Official Cash Rate 1.50% vs 1.75% expected
Markets Update:
Asian stock markets are mostly lower on Thursday with investors treading cautiously amid increased tensions ahead of the next round of U.S.-China trade talks in Washington this week. While speaking at a rally in Florida, U.S. President Donald Trump said that China “broke the deal” in the trade talks and so “they’ll be paying”.
In China both the Shanghai Composite, and the Shenzhen Composite, declined by 0.9%. Japan’s Nikkei 225 was lower by about 0.9% and the Topix index slipped 1.3%. South Korea’s Kospi shed 1.61% as shares of chipmaker SK Hynix plunged more than 4%. The ASX 200 in Australia, meanwhile, bucked the downward trend to increase by 0.48% as most sectors rose.
In the currency market, sterling weakened on signs that Brexit talks between Britain’s government and the main opposition party may soon collapse. The dollar index against a basket of six major peers was flat at 97.619, with other major currencies also confined to well-trodden ranges.
In the commodity market, oil prices dropped on Thursday amid concerns over the escalating Sino-U.S. trade battle, despite a surprise fall in U.S. crude stockpiles. Shanghai industrial metals fell in early trade on Thursday, while benchmark London copper hit its lowest in nearly three months, as investors sought safety ahead of the trade talks
Upcoming Events:
- 01:30 PM GMT – (CAD) Trade Balance
- 01:30 PM GMT – (USD) Fed Chair Powell Speaks
- 01:30 PM GMT – (USD) PPI m/m
- 01:30 PM GMT – (USD) Core PPI m/m
- Tentative – (USD) Treasury Currency Report
- &more…
