Global Markets:
- Asian Stock Markets : Nikkei down 0.76%, Shanghai Composite down 0.05%, Hang Seng down 0.20%, ASX up 0.64%
- Commodities : Gold at $1543.85 (+1.03%), Silver at $18.22 (+0.98%), Brent Oil at $68.17 (+2.90%), WTI Oil at $62.86 (+2.75%)
- Rates : US 10-year yield at 1.877, UK 10-year yield at 0.794, Germany 10-year yield at -0.226
News & Data:
- (GBP) Final Manufacturing PMI 47.5 vs 47.6 expected
- (CNY) Caixin Manufacturing PMI 51.5 vs 51.7 expected
- Iranian officials: Killing of Qasem Soleimani could lead to war
- PBOC Fixes Yuan Mid Point At 6.9681 Against The Dollar
Markets Update:
Asian stock markets are mixed on Friday, with some of the markets paring early gains as risk appetite waned on the prospects of heightened geopolitical tensions. Crude oil prices rose almost 3 percent in Asian trading following reports that a top Iranian military commander, Major General Qassem Soleimani, has been killed in a U.S. drone strike in Baghdad.
China’s Shanghai Composite was little changed while the Shenzhen Component was up 0.3%. Hong Kong’s Hang Seng Index dropped 0.2%. Chinese stocks rose yesterday amid news of policy support from China’s central bank to lift its economy.
Reports that U.S. President Donald Trump said earlier this week the first phase of Sino-U.S. trade deal will be signed this month also provided continuous support to the markets this week. Japan’s Nikkei 225 remained closed for holidays. Down under, Australia’s ASX climbed 0.6%.
Crude oil prices rose on Thursday amid US-Iran tensions and on hopes of increased demand for the commodity on the backs of the US -China trade deal.
The US dollar index edged higher overnight, boosted by sell-offs in Sterling and to a lesser extent, the Euro. GBP fell 0.90% to 1.3140 as fears surfaced that the one-year trade agreement timetable with Europe was unrealistic.
Upcoming Events:
- 03:00 PM GMT – (USD) ISM Manufacturing PMI
- 04:00 PM GMT – (USD) Crude Oil Inventories
- 07:00 PM GMT – (USD) FOMC Meeting Minutes
- 08:30 PM GMT – (USD) FOMC Member Kaplan Speaks
- &more…