Global Markets:
- Asian Stock Markets : Nikkei down 1.57%, Shanghai Composite down 1.22%, Hang Seng down 0.95%, ASX down 0.13%
- Commodities : Gold at $1589.75 (+0.98%), Silver at $18.56 (+0.92%), Brent Oil at $68.98 (+1.04%), WTI Oil at $63.20 (+0.80%)
- Rates : US 10-year yield at 1.785, UK 10-year yield at 0.788, Germany 10-year yield at -0.295
News & Data:
- (AUD) Building Approvals m/m 11.80% vs 2.10% expected
- (USD) ISM Non-Manufacturing PMI 55 vs 54.5 expected
- (CAD) Trade Balance -1.1B vs -0.8B expected
- (EUR) CPI Flash Estimate y/y 1.30% vs 1.30% expected
- (CHF) CPI m/m 0.00% vs -0.10% expected
Markets Update:
Asia Pacific markets retraced some losses on Wednesday but remained broadly lower. Earlier, shares tumbled when reports said rockets were fired at an Iraqi airbase that hosts American troops.
In Japan, the Nikkei 225 eased from earlier declines of more than 2% to trade down 1.6% while the Topix index was down 1.4%. Japanese Prime Minister Shinzo Abe is said to cancel a scheduled trip this weekend to the Middle East, according to a local broadcaster, Reuters reported. Chinese mainland markets traded lower: The Shanghai composite index was down 1.2%, the Shenzhen composite fell 1.1%. Hong Kong’s Hang Seng index was down 1%
The U.S. dollar index, which tracks the greenback against a basket of its peers, fell 0.07% to 96.938, down from an earlier high of 96.963. Oil prices jumped following news of Iran’s attack. Gold futures for February delivery were up 1.32% to $1,595.1. The precious metal is considered a safe haven asset.
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