Global Markets:
- Asian Stock Markets : Nikkei down 0.09%, Shanghai Composite down 0.05%, Hang Seng up 0.53%, ASX down 0.77%
- Commodities : Gold at $1494.10 (+0.01%), Silver at $17.43 (-0.01%), Brent Oil at $58.88 (-0.91%), WTI Oil at $52.84 (-0.97%)
- Rates : US 10-year yield at 1.731, UK 10-year yield at 0.673, Germany 10-year yield at -0.401
News & Data:
- (AUD) Unemployment Rate 5.20% vs 5.30% expected
- (AUD) Employment Change 14.7K vs 15.3K expected
- (USD) Retail Sales m/m -0.30% vs 0.30% expected
- (USD) Core Retail Sales m/m -0.10% vs 0.20% expected
- (CAD) Trimmed CPI y/y 2.10% vs 2.10% expected
- (CAD) Median CPI y/y 2.20% vs 2.10% expected
- (CAD) Common CPI y/y 1.90% vs 1.80% expected
- (CAD) CPI m/m -0.40% vs -0.30% expected
- (GBP) PPI Input m/m -0.80% vs 0.20% expected
- (GBP) CPI y/y 1.70% vs 1.80% expected
- UK Minister Jenrick: I Believe It Is Possible To Get A Deal
- ECB will implement September package but review is welcome: Villeroy
Markets Update:
Asian stock markets are mostly lower on Thursday following the modest losses overnight on Wall Street after data showed an unexpected decrease in U.S. retail sales in September. Investors also remained cautious amid uncertainty about a U.S.-China trade deal and as negotiations on Brexit continued.
Brexit negotiations hit a wall on Wednesday, the last day of talks before an important European Union summit. The BBC cited a government source and said there will be “no deal tonight” as officials continue to work on the technical details of the negotiation in Brussels.
The Australian stock market is declining following the negative cues from Wall Street on weak economic data. Investors turned cautious as they digested Australia’s unemployment data for September released earlier in the day. The benchmark ASX was trading lower by 0.8%. Among the major miners, Fortescue Metals is lower by almost 3 percent, Rio Tinto is losing more than 2 percent and BHP Group is declining almost 2 percent.
Mainland Chinese markets were marginal but mixed: The Shanghai composite was 0.1% lower, the Shenzhen composite rose 0.1%. The Nikkei seesawed between gains and losses to currently trade lower by 0.1%. Meanwhile, shares in Singapore were 0.16% lower. The Southeast Asian country, which recently dodged a technical recession, said on Thursday its non-oil domestic exports slipped by 8.1% in September — worse than the 7% forecast in a Reuters poll.
Bucking the overall trend, the Hang Seng Index jumped 0.5%, with shares of property developers rising after the city’s leader Carrie Lam announced on Wednesday measures to ease a housing shortage and calm anti-government protests.
The dollar last traded at 97.988 against a basket of its peers, dipping from levels near 98.400 reached earlier this week. The Japanese yen, which is considered a safe-haven asset, changed hands at 108.81 per dollar, weakening from around 107.400 last week.
Upcoming Events:
- 08:30 AM GMT – (GBP) BOE Credit Conditions Survey
- Day 1 – (EUR) EU Economic Summit
- 12:30 PM GMT – (CAD) Manufacturing Sales m/m
- 12:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 12:30 PM GMT – (USD) Building Permits
- 01:15 PM GMT – (USD) Industrial Production m/m
- 03:00 PM GMT – (USD) Crude Oil Inventories
- 06:00 PM GMT – (USD) FOMC Member Bowman Speaks
- 06:00 PM GMT – (USD) FOMC Member Evans Speaks
- 08:00 PM GMT – (AUD) RBA Gov Lowe Speaks
- 08:20 PM GMT – (USD) FOMC Member Williams Speaks
- &more…
