Global Markets:
- Asian Stock Markets : Nikkei up 0.89%, Shanghai Composite down 0.34%, Hang Seng up 0.42%, ASX up 0.43%
- Commodities : Gold at $1605.75 (+0.13%), Silver at $18.25 (+0.53%), Brent Oil at $58.12 (+0.64%), WTI Oil at $52.69 (+0.76%)
- Rates : US 10-year yield at 1.563, UK 10-year yield at 0.609, Germany 10-year yield at -0.407
News & Data:
- (AUD) Wage Price Index q/q 0.50% vs 0.50% expected
- (CAD) Manufacturing Sales m/m -0.70% vs 0.80% expected
- (EUR) German ZEW Economic Sentiment 8.7 vs 20 expected
- (GBP) Average Earnings Index 3m/y 2.90% vs 3.10% expected
- Japan government to keep view economy recovering despite virus risk: sources
Markets Update:
Asian stock markets are mostly higher on Wednesday despite the mostly negative cues overnight from Wall Street, as investors shrugged off worries about the impact of the coronavirus outbreak. While the cumulative death toll in China related to the coronavirus outbreak topped 2,000, new confirmed cases of coronavirus infections on the mainland has declined on Tuesday from a day earlier.
Mainland Chinese stocks rose in the morning, before dropping later on. The Shanghai composite and the Shenzhen component both lost 0.3%. Japan’s Nikkei 225 returned to positive territory, jumping 0.9% after slipping more than 1% the day before. The Topix was up 0.4%. Japan released its trade data for January, showing that exports fell 2.6% year-on-year, less than the 6.9% drop expected by economists in a Reuters poll. Australia’s ASX 200 rose 0.4% by the end of the morning. Gold stocks surged as prices of the safe-haven asset jumped again.
Oil prices jumped back up in the morning during Asia hours after falling with stocks on Tuesday. The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 99.426, rising from an earlier low of 99.139.
Upcoming Events:
- 09:30 AM GMT – (GBP) CPI y/y
- 09:30 AM GMT – (GBP) PPI Input m/m
- 01:30 PM GMT – (CAD) CPI m/m
- 01:30 PM GMT – (CAD) Common CPI y/y
- 01:30 PM GMT – (CAD) Median CPI y/y
- 01:30 PM GMT – (CAD) Trimmed CPI y/y
- 01:30 PM GMT – (USD) Building Permits
- 01:30 PM GMT – (USD) Core PPI m/m
- 01:30 PM GMT – (USD) PPI m/m
- 07:00 PM GMT – (USD) FOMC Meeting Minutes