Global Markets:
- Asian Stock Markets : Nikkei up 0.55%, Shanghai Composite up 0.96%, Hang Seng up 0.63%, ASX up 0.10%
- Commodities : Gold at $1740.05 (+0.52%), Silver at $17.71 (+1.13%), Brent Oil at $42.41 (+2.17%), WTI Oil at $39.79 (+2.45%)
- Rates : US 10-year yield at 0.725, UK 10-year yield at 0.243, Germany 10-year yield at -0.402
News & Data:
- (GBP) Retail Sales m/m 12.00% vs 6.30% expected
- (AUD) Retail Sales m/m 16.30% vs -17.70% previous
- (USD) CB Leading Index m/m 2.80% vs 2.40% expected
- (USD) Unemployment Claims 1508K vs 1300K expected
- (USD) Philly Fed Manufacturing Index 27.5 vs -23 expected
- (CAD) ADP Non-Farm Employment Change 208.4K vs -2361.7K previous
- (GBP) MPC Asset Purchase Facility Votes 8-0-1 vs 9-0-0 expected
- (GBP) Official Bank Rate 0.10% vs 0.10% expected
- (GBP) MPC Official Bank Rate Votes 0-0-9 vs 0-0-9 expected
- (GBP) Asset Purchase Facility 745B vs 745B expected
- Tokyo lifts all coronavirus restrictions on businesses
- Australia’s lowest paid workers will get a wage increase by $13 weekly
Markets Update:
Asian stock markets are moderately higher on Friday following the lackluster cues overnight from Wall Street and as worries about the rising number of coronavirus cases in the U.S. and China offset hopes of a quick economic recovery. However, a Chinese health expert said that the coronavirus outbreak in Beijing is under control.
Japan’s Nikkei 225 closed 0.6% higher while the Topix traded largely flat. Shares in Australia saw gains, with the S&P/ASX 200 up 0.1%. Mainland Chinese stocks were higher by the afternoon, with the Shanghai composite up 1% while the Shenzhen component added 1.5%. Hong Kong’s Hang Seng index rose 0.6%, as of its final hour of trading.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.331 after rising from levels below 97.2 earlier. Benchmark 10-year U.S. Treasury notes edged up to 0.7019%, but further gains could be capped due to worries about the U.S. labour market.
Oil futures extended gains from the previous session after OPEC producers and allies promised to meet their supply cut commitments and two major oil traders said demand is recovering.
Upcoming Events:
- 12:30 PM GMT – (CAD) Core Retail Sales m/m
- 12:30 PM GMT – (CAD) Retail Sales m/m
- 05:00 PM GMT – (USD) Fed Chair Powell Speaks