Global Markets:
- Asian Stock Markets : Nikkei up 1.02%, Shanghai Composite up 0.11%, Hang Seng up 1.39%, ASX up 0.05%
- Commodities : Gold at $1319.10 (-0.24%), Silver at $16.73 (-0.20%), Brent Oil at $77.35 (-0.15%), WT Crude at $71.31 (-0.07%)
- Rates : US 10-year yield at 2.968, UK 10-year yield at 1.423, Germany 10-year yield at 0.558
News & Data:
- (NZD) Business NZ Manufacturing Index 58.9 vs 53.1 previous
- (USD) Unemployment Claims 211K vs 219K expected
- (USD) Core CPI m/m 0.10% vs 0.20% expected
- (USD) CPI m/m 0.20% vs 0.30% expected
- (CAD) NHPI m/m 0.00% vs 0.00% expected
- (GBP) MPC Asset Purchase Facility Votes 0-0-9 vs 0-0-9 expected
- (GBP) Asset Purchase Facility 435B vs 435B expected
- (GBP) Official Bank Rate 0.50% vs 0.50% expected
- (GBP) MPC Official Bank Rate Votes 2-0-7 vs 2-0-7 expected
- (GBP) Goods Trade Balance -12.3B vs -11.2B expected
- (GBP) Manufacturing Production m/m -0.10% vs -0.20% expected
- German Economy Minister Altmaier proposes to discuss ways to avoid negative impact on Germany's labour market, after U.S. withdrawal from Iran deal
- Playing US Sanctions: China Walks a Fine Line in Iran
- Lending to Australian housing investors plummeted in March
Markets Update:
Asian markets traded higher today, following overnight gains on the Wall Street, as the CPI data was lower than expected, thereby easing investor concerns that the Fed might increase the pack of interest rate hikes. The inflation number also eased the dollar.
Nikkei building on gains with Panasonic outperforming following earnings and reports of a planned partnership with Tesla. The Japanese benchmark has extended yesterday’s gains, even as the yen traded higher today.
The Australian market is rising for a fifth straight day, backed by increased commodity prices. Chinese shares gave up early gains to be marginally lower.
Investors trimmed their expectations for four Fed rate hikes after inflation data showed U.S. price pressures remained weak. The Fed has already raised rates once this year and is widely expected to go two more times in 2018.
Oil prices eased but stayed near multi-year peaks amid supply concerns after Trump withdrew from an Iranian nuclear deal and reinstated sanctions. Crude oil futures edged higher Thursday, holding most of their recent gains after subdued U.S. inflation data.
Upcoming Events:
- 12:30 PM GMT – (CAD) Employment Change
- 12:30 PM GMT – (CAD) Unemployment Rate
- 01:10 PM GMT – (CAD) Gov Council Member Wilkins Speaks
- 01:15 PM GMT – (EUR) ECB President Draghi Speaks
- 02:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
- &more…
