Global Markets:
- Asian Stock Markets : Nikkei up 0.35%, Shanghai Composite up 0.04%, Hang Seng down 0.10%, ASX up 0.83%
- Commodities : Gold at $1463.65 (-0.01%), Silver at $17.05 (+0.13%), Brent Oil at $62.47 (-0.24%), WTI Oil at $57.87 (-0.24%)
- Rates : US 10-year yield at 1.760, UK 10-year yield at 0.697, Germany 10-year yield at -0.348
News & Data:
- (NZD) Core Retail Sales q/q 1.80% vs 0.60% expected
- (NZD) Retail Sales q/q 1.60% vs 0.50% expected
- (EUR) German Ifo Business Climate 95 vs 94.9 expected
Markets Update:
Asian stocks rose on Tuesday to extend gains from the previous session after Wall Street’s main benchmark indexes hit record highs overnight on signs of progress in U.S.-China trade talks.
Markets in China and Hong Kong treaded cautiously after China’s central bank said that Beijing needs to resolve outstanding financial risks, and must counter risks from “abnormal” market fluctuations stemming from external shocks.
Mainland Chinese shares mostly saw gains by the afternoon, with the Shenzhen component up 0.1% – although the Shanghai composite was flat. In Japan, the Nikkei 225 added 0.4% in afternoon trade while the Topix index gained 0.2%. South Korea’s Kospi edged 0.1% lower. Shares in Australia gained as the S&P/ASX 200 advanced 0.8%. Shares of Westpac jumped more than 1.8% after the firm announced the resignation of its CEO and early retirement of its chairman
Safe-haven assets such as the Japanese yen, the Swiss franc and gold eased after China said it would crack down on IP theft in an attempt to nudge trade talks toward a positive direction.
Oil prices held steady after closing higher on Monday in reaction to positive comments from the United States and China on the trade front. The British pound remained supported amid hopes of an end to a hung parliament.
Upcoming Events:
- 09:05 AM GMT – (AUD) RBA Gov Lowe Speaks
- 03:00 PM GMT – (USD) CB Consumer Confidence
- 03:00 PM GMT – (USD) Richmond Manufacturing Index
- 08:00 PM GMT – (NZD) RBNZ Financial Stability Report
- 10:00 PM GMT – (NZD) RBNZ Gov Orr Speaks
- &more…