Global Markets:
- Asian Stock Markets : Nikkei up 0.14%, Shanghai Composite down 0.30%, Hang Seng up 1.49%, ASX down 0.65%
- Commodities : Gold at $1477.75 (+0.19%), Silver at $16.90 (+0.29%), Brent Oil at $64.00 (+0.44%), WTI Oil at $58.88 (+0.20%)
- Rates : US 10-year yield at 1.802, UK 10-year yield at 0.778, Germany 10-year yield at -0.328
News & Data:
- (USD) Federal Funds Rate <1.75% vs <1.75% expected
- (USD) Crude Oil Inventories 0.8M vs -2.9M expected
- (USD) Core CPI m/m 0.20% vs 0.20% expected
- (USD) CPI m/m 0.30% vs 0.20% expected
- BOJ’S Amamiya: Rise In 10-Year JGB Yield In Line With Curve Control
- K. Housing Market in Limbo Ahead of Election, RICS Says
Markets Update:
Asian stock markets are mostly higher on Thursday following the positive cues overnight from Wall Street after the U.S. Federal Reserve announced its decision to leave interest rates unchanged and also signaled it expects interest rates to remain on hold throughout 2020.
Investors also looked ahead to developments on the U.S.-China trade front as a fresh round of U.S. tariffs on Chinese goods are set to kick in on December 15.
The Nikkei 225 in Japan gained 0.1% in afternoon trade while the Topix index was fractionally lower. South Korea’s Kospi added 1.5%, as shares of industry heavyweight Samsung Electronics and SK Hynix surged more than 2% each. Hong Kong’s Hang Seng index jumped 1.5% as shares of Chinese tech juggernaut Tencent surged 2.1%. Life insurer AIA also saw its stock gain 2.3%.
The dollar index against a basket of six major currencies fell 0.37% to 97.057, briefly touching a new four-month low after Powell it would take a significant pick-up in inflation to cause the Fed to raise rates. Treasury yields initially fell in reaction to Powell’s comments, but they rebounded slightly in Asia. The yield on benchmark 10-year Treasury notes rose to 1.7966%.
Upcoming Events:
- 08:30 AM GMT – (CHF) SNB Monetary Policy Assessment
- 08:30 AM GMT – (CHF) SNB Policy Rate
- All Day – (GBP) Parliamentary Elections
- 09:00 AM GMT – (CHF) SNB Press Conference
- 12:45 PM GMT – (EUR) Main Refinancing Rate
- 12:45 PM GMT – (EUR) Monetary Policy Statement
- 01:30 PM GMT – (EUR) ECB Press Conference
- 01:30 PM GMT – (USD) Core PPI m/m
- 01:30 PM GMT – (USD) PPI m/m
- 05:30 PM GMT – (CAD) BOC Gov Poloz Speaks
- 09:30 PM GMT – (NZD) Business NZ Manufacturing Index
- &more…