Global Markets:
- Asian Stock Markets : Nikkei down 0.98%, Shanghai Composite down 2.68%, Hang Seng down 2.07%, ASX down 0.63%
- Commodities : Gold at $1556.45 (-0.02%), Silver at $17.73 (-0.57%), Brent Oil at $62.20 (-1.60%), WTI Oil at $55.67 (-1.89%)
- Rates : US 10-year yield at 1.746, UK 10-year yield at 0.634, Germany 10-year yield at -0.265
News & Data:
- (AUD) Unemployment Rate 5.10% vs 5.20% expected
- (AUD) Employment Change 28.9K vs 12.2K expected
- (CAD) Overnight Rate 1.75% vs 1.75% expected
- (CAD) Trimmed CPI y/y 2.10% vs 2.20% expected
- (CAD) Median CPI y/y 2.20% vs 2.40% expected
- (CAD) Common CPI y/y 2.00% vs 1.90% expected
- (CAD) CPI m/m 0.00% vs 0.00% expected
- Australia: Consumer sentiment weakens again at the start of the year amid devastating bushfires
- Australia: RBA cut delayed by strong employment – ANZ
Markets Update:
Asian stock markets are mostly lower on Thursday amid worries about the spread of the deadly coronavirus outbreak in China just as the week-long Lunar New Year holidays starts on Friday, when millions of Chinese travel domestically and abroad. The death toll from the virus has risen to 17 in China, with more than 570 cases confirmed.
Japanese trade data released Thursday showed exports falling more than expected in December. Japanese exports for December fell 6.3% in December as compared to a year before, data from country’s Ministry of Finance data showed.
The Nikkei 225 in Japan slipped 1% while the Topix index also shed 0.8%. The Shanghai composite fell more than 3% while the Shenzhen component dropped beyond 4%. Hong Kong’s Hang Seng index also fell 2.1%. South Korea’s Kospi also saw losses as it declined 0.9%.
Investor sentiment has taken a hit this week as the mysterious coronavirus that has infected hundreds in China spreads. The World Health Organization postponed a decision Wednesday over whether to declare the disease a global health emergency. The yield on benchmark 10-year Treasury notes fell to 1.7482% in Asia as some investors sought the safety of government debt.
Upcoming Events:
- Day 3 – (All) WEF Annual Meetings
- 12:45 PM GMT – (EUR) Main Refinancing Rate
- 12:45 PM GMT – (EUR) Monetary Policy Statement
- 01:30 PM GMT – (EUR) ECB Press Conference
- 04:00 PM GMT – (USD) Crude Oil Inventories
- 09:45 PM GMT – (NZD) CPI q/q
- &more…