Global Markets:
- Asian Stock Markets : Nikkei up 0.02%, Shanghai Composite down 0.82%, Hang Seng up 0.06%, ASX down 0.49%
- Commodities : Gold at $1516.45 (+0.27%), Silver at $18.02 (-0.28%), Brent Oil at $62.24 (-0.24%), WTI Oil at $56.34 (-0.27%)
- Rates : US 10-year yield at 1.699, UK 10-year yield at 0.540, Germany 10-year yield at -0.576
News & Data:
- (USD) Crude Oil Inventories 2.4M vs -0.3M expected
- (USD) New Home Sales 713K vs 652K expected
- (GBP) CBI Realized Sales -16 vs -22 expected
- (EUR) German 10-y Bond Auction -0.61|2.4 vs -0.70|1.9 previous
- (GBP) High Street Lending 42.6K vs 43.2K expected
- (CHF) Credit Suisse Economic Expectations -15.4 vs -37.5 previous
- (JPY) BOJ Core CPI y/y 0.40% vs 0.60% expected
- (NZD) Official Cash Rate 1.00% vs 1.00% expected
- Australia central bank seen easing policy in October, rates seen at 0.5% by early 2020: Reuters poll
- Trump Talks Up China As Impeachment Risk Recedes
Markets Update:
Asian stock markets are mostly higher on Thursday as optimism that the U.S. and China will reach a trade deal soon helped offset worries about a U.S. Presidential impeachment. U.S. President Donald Trump said at the United Nations in New York on Wednesday that a deal between the U.S. and China could come sooner “than you think.” The two largest economies of the world have attempted to find a deal to end their protracted trade dispute which has lasted for more than a year and rattled financial markets globally.
In addition, the U.S. and Japan signed a limited trade deal on Wednesday, under which Japan will open new markets to about $7 billion in U.S. agricultural products.
Mainland Chinese shares were lower by the afternoon, with the Shanghai composite slipping 0.8% while the Shenzhen component shed 2%. Hong Kong’s Hang Seng index rose 0.1% as shares of Chinese tech behemoth Tencent added 0.67%.
Elsewhere, the Nikkei 225 in Japan traded flat, while the Topix advanced 0.2% after earlier touching levels not seen since December 2018. Australian shares also fell 0.53% percent as scepticism about an end to the trade war set in.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 98.876 after touching an earlier high of 98.974. Oil futures rose in Asia in a sign of cautious optimism about global economic prospects, but some investors warned that an end to trade friction is far from certain.
Upcoming Events:
- 06:35 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 12:30 PM GMT – (USD) Final GDP q/q
- 01:30 PM GMT – (EUR) ECB President Draghi Speaks
- 01:45 PM GMT – (GBP) BOE Gov Carney Speaks
- 02:00 PM GMT – (USD) FOMC Member Bullard Speaks
- 03:45 PM GMT – (USD) FOMC Member Clarida Speaks
- &more…
