Global Markets:
- Asian Stock Markets : Nikkei down 0.76%, Shanghai Composite down 1.48%, Hang Seng up 0.84%, ASX down 0.21%
- Commodities : Gold at $1284.35 (-0.24%), Silver at $14.69 (-0.69%), Brent Oil at $71.03 (+0.58%), WTI Oil at $61.76 (+0.16%)
- Rates : US 10-year yield at 2.435, UK 10-year yield at 1.128, Germany 10-year yield at -0.045
News & Data:
- (USD) Core CPI m/m 0.10% vs 0.20% expected
- (USD) CPI m/m 0.30% vs 0.40% expected
- (CAD) Unemployment Rate 5.70% vs 5.80% expected
- (CAD) Employment Change 106.5K vs 11.7K expected
- (GBP) Prelim Business Investment q/q 0.50% vs -0.90% expected
- (GBP) Prelim GDP q/q 0.50% vs 0.50% expected
- (GBP) Manufacturing Production m/m 0.90% vs 0.10% expected
- (GBP) GDP m/m -0.10% vs 0.00% expected
- May Aims to Reopen EU Brexit Talks to Win Corbyn’s Support
- Saudi Energy Minister Condemns Attack On 2 Saudi Vessels That That Targeted Security Of Oil Supply
CFTC Positioning Data:
- EUR short 106K vs 105K short last week. Unchanged
- GBP short 7K vs 5K short last week. Shorts increased by 3K
- JPY short 92K vs 100K short last week. Shorts increased by 6K
- CHF short 40k vs 40k short last week. Shorts increased by 2K
- AUD short 57k vs 59k short last week. Shorts increased by 9K
- NZD short 13K vs 11K short last week. Shorts increased by 6K
- CAD short 46K vs 47K short last week. Unchanged
Markets Update:
Asian stock markets are mostly lower on Monday and U.S. stock futures declined amid worries about the escalating trade war between the U.S. and China. Trade talks between the countries ended without a resolution last week and the U.S. hiked tariffs on about $200 billion worth of Chinese goods after the two countries failed to reach a trade deal.
Asian markets remained beaten up – with the mainland Chinese markets suffering the most. The Shanghai Composite was down 1.5%, while the Shenzhen Composite was lower by 1.6%. The Nikkei slid 0.8% as well. Hang Seng bucked the trend, to trade higher by 0.8%. Down under, the ASX traded lower by 0.2% on account of broad based losses.
The offshore Chinese yuan fell to its lowest levels in more than four months at 6.88 to the dollar. It last stood down 0.5% at 6.852 per dollar. The other major currencies were relatively calm, with the safe-haven yen still supported but not aggressively so.
In commodity markets, oil prices remained a relatively tight range, with the U.S. crude futures were last up 0.2% at $61.76 a barrel. digital currencies maintained most of their big gains made over the weekend. Bitcoin jumped more than 10 percent on Saturday and marked its nine-month high of $7,585.00 on Sunday before paring the gains.
Upcoming Events:
Monday, May 13, 2019
- 08:00 AM GMT – (AUD) RBA Assist Gov Debelle Speaks
- 02:10 PM GMT – (USD) FOMC Member Clarida Speaks
- 10:30 PM GMT – (CAD) Gov Council Member Lane Speaks
Tuesday, May 14, 2019
- 08:15 AM GMT – (USD) FOMC Member Williams Speaks
- 09:30 AM GMT – (GBP) Average Earnings Index 3m/y
- 09:30 AM GMT – (GBP) Unemployment Rate
- 10:00 AM GMT – (EUR) German ZEW Economic Sentiment
- 05:45 PM GMT – (USD) FOMC Member George Speaks
Wednesday, May 15, 2019
- 02:30 AM GMT – (AUD) Wage Price Index q/q
- 03:00 AM GMT – (CNY) Fixed Asset Investment ytd/y
- 03:00 AM GMT – (CNY) Industrial Production y/y
- 07:00 AM GMT – (EUR) German Prelim GDP q/q
- 10:00 AM GMT – (EUR) Flash GDP q/q
- 01:30 PM GMT – (CAD) CPI m/m
- 01:30 PM GMT – (CAD) Common CPI y/y
- 01:30 PM GMT – (CAD) Median CPI y/y
- 01:30 PM GMT – (CAD) Trimmed CPI y/y
- 01:30 PM GMT – (USD) Core Retail Sales m/m
- 01:30 PM GMT – (USD) Retail Sales m/m
- 02:30 PM GMT – (USD) FOMC Member Quarles Speaks
Thursday, May 16, 2019
- 02:30 AM GMT – (AUD) Employment Change
- 02:30 AM GMT – (AUD) Unemployment Rate
- 03:45 AM GMT – (AUD) RBA Assist Gov Bullock Speaks
- 09:15 AM GMT – (EUR) German Buba President Weidmann Speaks
- 01:30 PM GMT – (CAD) Manufacturing Sales m/m
- 01:30 PM GMT – (USD) Building Permits
- 01:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 04:15 PM GMT – (CAD) BOC Gov Poloz Speaks
- 05:15 PM GMT – (USD) FOMC Member Brainard Speaks
- 06:30 PM GMT – (GBP) MPC Member Haskel Speaks
- Tentative – (USD) Treasury Currency Report
Friday, May 17, 2019
- 03:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
- 06:40 PM GMT – (USD) FOMC Member Clarida Speaks
- &more…
