Global Markets:
- Asian Stock Markets : Nikkei up 0.34%, Shanghai Composite up 1.42%, Hang Seng down 0.06%, ASX down 0.06%
- Commodities : Gold at $1285.65 (+0.11%), Silver at $14.59 (+0.25%), Brent Oil at $67.48 (+0.01%), WTI Oil at $58.42 (-0.66%)
- Rates : US 10-year yield at 2.324, UK 10-year yield at 0.959, Germany 10-year yield at -0.113
News & Data:
- (USD) Durable Goods Orders m/m -2.10% vs -2.00% expected
- (USD) Core Durable Goods Orders m/m 0.00% vs 0.10% expected
- (GBP) Retail Sales m/m 0.00% vs -0.30% expected
- Japan PM Abe says determined to show world strong alliance with U.S.
- Corbyn hints at 2nd referendum for first time as Brexit Party crush Labour in EU poll
CFTC Positioning Data:
- EUR short 101K vs 95K short last week. Shorts increased by 6K
- GBP short 26K vs 3K short last week. Shorts increased by 23K
- JPY short 55K vs 62K short last week. Shorts trimmed by 7K
- CHF short 37k vs 40k short last week. Shorts trimmed by 3K
- AUD short 66k vs 66k short last week. Shorts increased by 2K
- NZD short 11K vs 11K short last week. Unchanged
- CAD short 42K vs 48K short last week. Shorts trimmed by 6K
Markets Update:
Asian stock markets with the exception of China are largely mixed on Monday despite the positive cues from Wall Street Friday after worries about U.S.-China trade tensions eased following comments from U.S. President Donald Trump that he remains hopeful of a trade deal.
Early results from the weekend’s European Parliament elections that showed the EU parliament will be much more fragmented weighed on investor sentiment. Investors are also cautious as they looked ahead to the U.S.-Japan summit talks due later in the day. Trump is currently on a state visit to Japan.
In Japan, the Nikkei 225 rose 0.3%, with shares of index heavyweight Fast Retailing advancing. The Topix also gained 0.4%. Mainland Chinese shares gained by the afternoon, with the Shanghai composite up 1.4%, and the Shenzhen composite up 2.2%. Over in Hong Kong, however, the Hang Seng index slid 0.1%. Over in South Korea, the Kospi traded down 0.1% while Australia’s ASX 200 was fractionally lower.
The dollar index against a basket of six major currencies inched down 0.1% to 97.565. Oil prices were mixed on Monday as supply cuts led by producer club OPEC kept markets relatively tight, but Brent remained below $70 per barrel on concerns over the U.S.-China trade war.
Upcoming Events:
Monday, May 27, 2019
- 04:00 AM GMT – (JPY) BOJ Gov Kuroda Speaks
Tuesday, May 28, 2019
- 3:00 pm GMT – (USD) CB Consumer Confidence
- 10:00 PM GMT – (NZD) RBNZ Financial Stability Report
Wednesday, May 29, 2019
- 12:00 AM GMT – (NZD) RBNZ Gov Orr Speaks
- 01:00 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 02:00 AM GMT – (NZD) ANZ Business Confidence
- 02:10 AM GMT – (NZD) RBNZ Gov Orr Speaks
- 08:00 AM GMT – (EUR) German Buba President Weidmann Speaks
- 03:00 PM GMT – (CAD) BOC Rate Statement
- 03:00 PM GMT – (CAD) Overnight Rate
Thursday, May 30, 2019
- 02:30 AM GMT – (AUD) Building Approvals m/m
- 02:30 AM GMT – (AUD) Private Capital Expenditure q/q
- 03:00 AM GMT – (NZD) Annual Budget Release
- 01:30 PM GMT – (CAD) Current Account
- 01:30 PM GMT – (USD) Prelim GDP q/q
- 05:00 PM GMT – (USD) FOMC Member Clarida Speaks
- 07:15 PM GMT – (CAD) Gov Council Member Wilkins Speaks
- Tentative – (USD) Treasury Currency Report
Friday, May 31, 2019
- 02:00 AM GMT – (CNY) Manufacturing PMI
- 02:00 AM GMT – (CNY) Non-Manufacturing PMI
- All Day – (EUR) German Prelim CPI m/m
- 01:30 PM GMT – (CAD) GDP m/m
- 01:30 PM GMT – (CAD) RMPI m/m
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 01:30 PM GMT – (USD) Personal Spending m/m
- 02:45 PM GMT – (USD) Chicago PMI
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
- 05:00 PM GMT – (USD) FOMC Member Williams Speaks
- &more…
