Global Markets:
- Asian Stock Markets : Nikkei up 2.39%, Shanghai Composite up 0.79%, Hang Seng up 0.83%, ASX up 1.14%
- Commodities : Gold at $1290.90 (+0.40%), Silver at $15.83 (+0.27%), Brent Oil at $57.85 (+1.38%), WTI Oil at $48.70 (+1.54%)
- Rates : US 10-year yield at 2.664, UK 10-year yield at 1.272, Germany 10-year yield at 0.209
News & Data:
- (USD) Unemployment Rate 3.90% vs 3.70% expected
- (USD) Non-Farm Employment Change 312K vs 179K expected
- (USD) Average Hourly Earnings m/m 0.40% vs 0.30% expected
- (CAD) RMPI m/m -11.70% vs 0.40% expected
- (CAD) Unemployment Rate 5.60% vs 5.70% expected
- (CAD) Employment Change 9.3K vs 6.8K expected
- (EUR) Core CPI Flash Estimate y/y 1.00% vs 1.00% expected
- (EUR) CPI Flash Estimate y/y 1.60% vs 1.80% expected
- (GBP) Services PMI 51.2 vs 50.7 expected
- (GBP) Net Lending to Individuals m/m 4.4B vs 4.9B expected
- (CNY) Caixin Services PMI 53.9 vs 52.9 expected
- China: there will be more monetary easing
- Australia’s manufacturing sector contracted for the first time in two years
Markets Update:
Asian shares sped ahead on Monday as a dovish turn by the Federal Reserve and startlingly strong U.S. jobs data soothed some of the market’s worst fears about the global outlook. Investor sentiment picked up slightly ahead of a round of trade negotiations between the United States and China in Beijing.
Chinese stocks firmed after the country’s central bank announced an easing in policy on Friday, with 100 basis points of cuts to bank reserve requirements freeing up around $116 billion for new lending. Hong Kong’s Hang Seng index also saw gains of 0.8 percent.
Japan’s Nikkei 225 soared 2.4 percent in afternoon session while the Topix jumped 2.8 percent. Shares of automaker Toyota gained around 3 percent. Australia’s benchmark ASX 200 was up 1.1 percent with most sectors seeing gains.
Gold benefited from the diminished risk of U.S. rate hikes and held at $1,288.81 , just off a six-month top. The U.S. dollar softened broadly with the euro edging up to $1.1428 and the dollar index easing 0.2 percent to 95.971. The currency could not even hold early gains on the yen, lapsing back to 108.05.
Upcoming Events:
Monday, January 07, 2019
- 04:00 PM GMT – (CAD) Ivey PMI
- 04:00 PM GMT – (USD) ISM Non-Manufacturing PMI
Tuesday, January 08, 2019
- 01:30 AM GMT – (AUD) Trade Balance
- 02:30 PM GMT – (CAD) Trade Balance
Wednesday, January 09, 2019
- 01:00 AM GMT – (JPY) Average Cash Earnings y/y
- 01:30 AM GMT – (AUD) Building Approvals m/m
- 03:00 PM GMT – (USD) FOMC Member Evans Speaks
- 04:00 PM GMT – (CAD) BOC Monetary Policy Report
- 04:00 PM GMT – (CAD) BOC Rate Statement
- 04:00 PM GMT – (CAD) Overnight Rate
- 04:15 PM GMT – (CAD) BOC Press Conference
- 04:30 PM GMT – (GBP) BOE Gov Carney Speaks
- 05:30 PM GMT – (USD) FOMC Member Rosengren Speaks
- 08:00 PM GMT – (USD) FOMC Meeting Minutes
Thursday, January 10, 2019
- 01:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 06:00 PM GMT – (USD) Fed Chair Powell Speaks
- 06:40 PM GMT – (USD) FOMC Member Bullard Speaks
- 07:00 PM GMT – (USD) FOMC Member Evans Speaks
- 11:30 PM GMT – (USD) FOMC Member Clarida Speaks
Friday, January 11, 2019
- 01:30 AM GMT – (AUD) Retail Sales m/m
- 10:30 AM GMT – (GBP) GDP m/m
- 10:30 AM GMT – (GBP) Manufacturing Production m/m
- 02:30 PM GMT – (USD) CPI m/m
- 02:30 PM GMT – (USD) Core CPI m/m
- &more…
