Global Markets:
- Asian Stock Markets : Nikkei down 1.91%, Shanghai Composite down 0.01%, Hang Seng down 1.11%, ASX up 0.03%
- Commodities : Gold at $1576.65 (+1.56%), Silver at $18.42 (+1.47%), Brent Oil at $70.19 (+2.32%), WTI Oil at $64.31 (+2.00%)
- Rates : US 10-year yield at 1.779, UK 10-year yield at 0.736, Germany 10-year yield at -0.290
News & Data:
- (USD) Crude Oil Inventories -11.5M vs -3.1M expected
- (USD) ISM Manufacturing PMI 47.2 vs 49 expected
- China’s services sector expands at slower pace in Dec as confidence dips: Caixin PMI
- Middle East Tensions Attract Yen Demand
Markets Update:
Asian stock markets are lower on Monday, while gold and oil prices rose following the negative cues from Wall Street Friday amid heightened geopolitical tensions in the Middle East after a U.S. airstrike killed Iranian military commander Qassem Soleimani last week. Iran has vowed to retaliate in revenge for Soleimani’s death and said it will no longer abide by the limits on uranium enrichment contained in the 2015 nuclear deal.
Japanese shares returned for their first day of trade with the benchmark Nikkei 225 declining 1.9% while the Topix index was down 1.4%. In South Korea, the Kospi index fell 1%. Hong Kong’s Hang Seng index was down 1.1%. Chinese mainland markets bucked the downward trend: The Shanghai composite was flat, the Shenzhen composite added 0.3%.
Oil prices surged 3% on Friday on worries that potential conflict between the U.S. and Iran could disrupt energy production in the region. In the currency market, the U.S. dollar traded near flat against a basket of currencies. The dollar index was around 96.849, dipping from an earlier high of 96.873.
Upcoming Events:
Monday, January 06, 2020
- 01:30 PM GMT – (CAD) RMPI m/m
Tuesday, January 07, 2020
- 07:30 AM GMT – (CHF) CPI m/m
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 01:30 PM GMT – (CAD) Trade Balance
- 03:00 PM GMT – (USD) ISM Non-Manufacturing PMI
Wednesday, January 08, 2020
- 12:30 AM GMT – (AUD) Building Approvals m/m
- 01:15 PM GMT – (USD) ADP Non-Farm Employment Change
- 03:30 PM GMT – (USD) Crude Oil Inventories
Thursday, January 09, 2020
- 12:30 AM GMT – (AUD) Trade Balance
- 01:30 AM GMT – (CNY) CPI y/y
- 01:00 PM GMT – (USD) FOMC Member Clarida Speaks
- 06:01 PM GMT – (USD) 30-y Bond Auction
- 07:00 PM GMT – (CAD) BOC Gov Poloz Speaks
Friday, January 10, 2020
- 12:30 AM GMT – (AUD) Retail Sales m/m
- 12:30 AM GMT – (CNY) New Loans
- 01:30 PM GMT – (CAD) Employment Change
- 01:30 PM GMT – (CAD) Unemployment Rate
- 01:30 PM GMT – (USD) Average Hourly Earnings m/m
- 01:30 PM GMT – (USD) Non-Farm Employment Change
- 01:30 PM GMT – (USD) Unemployment Rate
- &more…