Global Markets:
- Asian Stock Markets : Nikkei up 1.25%, Shanghai Composite down 0.24%, Hang Seng up 0.32%, ASX up 1.27%
- Commodities : Gold at $1487.35 (+0.26%), Silver at $17.45 (+0.40%), Brent Oil at $58.85 (+0.19%), WTI Oil at $52.91 (+0.19%)
- Rates : US 10-year yield at 1.747, UK 10-year yield at 0.699, Germany 10-year yield at -0.405
News & Data:
- (NZD) CPI q/q 0.70% vs 0.60% expected
- (EUR) German ZEW Economic Sentiment -22.8 vs -27 expected
- (CNY) New Loans 1690B vs 1350B expected
- (GBP) Average Earnings Index 3m/y 3.80% vs 4.00% expected
- (CNY) CPI y/y 3.00% vs 2.90% expected
- China Unexpectedly Injects $28 Billion of Cash as Growth Slows
- China, US praise trade war deal dispute settlement mechanism but details remain sketchy after talks
Markets Update:
Asian stock markets are in positive territory on Wednesday following the overnight gains on Wall Street as upbeat earnings results from major U.S. companies and optimism about a possible Brexit deal boosted investor sentiment. According to media reports, European Union and UK negotiators were closing in on a draft Brexit deal.
Mainland Chinese stocks rose in early trade, but the Shanghai Composite gave up early games to trade lower by 0.24%. Japan’s Nikkei 225 jumped 1.3% in early trade. Sectors across the board did well, with autos, tech and retail carving out significant gains.
In South Korea, the Kospi rose 0.61%. South Korea’s central bank cut its interest rate for the second time in three months on Wednesday, as expected, following its first cut in July. Australia’s S&P/ASX 200 rose 1.3% in the morning. The heavily weighted financial subindex was up 1.6%, with banks seeing gains.
The dollar was under pressure against a basket of six major currencies with its index hovering near three-week lows at 98.338. The euro was little changed at $1.1028. In commodities, Brent crude rose todayafter falling the previous session over fears the unrelenting U.S.-China trade war would keep squeezing the global economy.
Upcoming Events:
- 08:30 AM GMT – (GBP) CPI y/y
- 08:30 AM GMT – (GBP) PPI Input m/m
- 12:30 PM GMT – (CAD) CPI m/m
- 12:30 PM GMT – (CAD) Common CPI y/y
- 12:30 PM GMT – (CAD) Median CPI y/y
- 12:30 PM GMT – (CAD) Trimmed CPI y/y
- 12:30 PM GMT – (USD) Core Retail Sales m/m
- 12:30 PM GMT – (USD) Retail Sales m/m
- 01:00 PM GMT – (GBP) BOE Gov Carney Speaks
- 01:00 PM GMT – (USD) FOMC Member Evans Speaks
- 05:00 PM GMT – (EUR) German Buba President Weidmann Speaks
- 07:00 PM GMT – (USD) FOMC Member Brainard Speaks
- 10:10 PM GMT – (AUD) RBA Deputy Gov Debelle Speaks
- 10:30 PM GMT – (GBP) BOE Gov Carney Speaks
- &more…
