Global Markets:
- Asian Stock Markets : Nikkei down 0.33%, Shanghai Composite up 0.99%, Hang Seng up 0.63%, ASX up 0.09%
- Commodities : Gold at $1513.85 (-0.06%), Silver at $18.10 (+0.19%), Brent Oil at $59.53 (-0.15%), WTI Oil at $54.23 (+0.09%)
- Rates : US 10-year yield at 1.696, UK 10-year yield at 0.643, Germany 10-year yield at -0.403
News & Data:
- (CNY) Caixin Manufacturing PMI 51.7 vs 51 expected
- (USD) Chicago PMI 43.2 vs 48.4 expected
- (USD) Personal Spending m/m 0.20% vs 0.30% expected
- (USD) Employment Cost Index q/q 0.70% vs 0.70% expected
- (USD) Core PCE Price Index m/m 0.00% vs 0.10% expected
- (CAD) RMPI m/m 0.00% vs 2.50% expected
- (CAD) GDP m/m 0.10% vs 0.20% expected
- (EUR) CPI Flash Estimate y/y 0.70% vs 0.70% expected
- (EUR) Spanish Flash GDP q/q 0.40% vs 0.40% expected
Markets Update:
Asian shares scaled three-month highs on Friday as a surprise bounce in Chinese manufacturing activity eclipsed doubts raised by a Bloomberg news report over whether the United States and China can reach a long-term trade deal. Factory activity in China expanded at its fastest pace in more than two years in October as export orders and production rose, a private business survey showed on Friday.
The expansion, which beat expectations and contrasted with the dour results of an official survey Thursday, helped to boost Chinese blue chips (CSI300), which surged 1%. n Hong Kong, the Hang Seng index rose 0.7% as shares of ESR Cayman jumped in the company’s public debut on Friday. Japan’s Nikkei 225 lagged as it slipped 0.3% in afternoon trade, while the Topix index shed 0.1%.
The yield on benchmark 10-year Treasury notes was higher at 1.6963% compared with its U.S. close of 1.691% on Thursday. The two-year yield, sensitive to market expectations of Federal Reserve policy, was at 1.536%, up from a U.S. close of 1.526%. The Fed cut interest rates for a third time this year on Wednesday to help sustain U.S. growth, but signalled there would be no further reductions unless the economy takes a turn for the worse.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.224 after slipping from levels above 97.4 yesterday.
Upcoming Events:
- 12:30 PM GMT – (USD) Average Hourly Earnings m/m
- 12:30 PM GMT – (USD) Non-Farm Employment Change
- 12:30 PM GMT – (USD) Unemployment Rate
- 02:00 PM GMT – (USD) ISM Manufacturing PMI
- 05:00 PM GMT – (USD) FOMC Member Clarida Speaks
- 06:30 PM GMT – (USD) FOMC Member Williams Speaks
- &more…