Global Markets:
- Asian Stock Markets : Nikkei up 1.06%, Shanghai Composite up 0.62%, Hang Seng up 1.19%, ASX up 0.27%
- Commodities: Gold at $1409.45 (-0.42%), Silver at $15.29 (-0.57%), Brent Oil at $65.47 (-0.33%), WTI Oil at $59.13 (-0.42%)
- Rates : US 10-year yield at 2.059, UK 10-year yield at 0.820, Germany 10-year yield at -0.293
News & Data:
- (NZD) ANZ Business Confidence -38.1 vs -32 previous
- (USD) Durable Goods Orders m/m -1.30% vs 0.00% expected
- (USD) Core Durable Goods Orders m/m 0.30% vs 0.10% expected
- (NZD) Official Cash Rate 1.50% vs 1.50% expected
- Bank of Japan warns of heightening economic risks as trade war bites
- US Dollar robust ahead of 96.00 ahead of US final GDP data
Markets Update:
Asian shares creep higher on hopes of Sino-U.S. trade truce. Asian share markets turned higher on Thursday following a media report the United States and China have tentatively agreed to a truce in their trade war, ahead of a closely-watched meeting between the two nations this weekend Washington and Beijing were laying out an agreement that would help avert the next round of tariffs on an additional $300 billion of Chinese imports.
Stocks in Japan, Hong Kong, and mainland China gain on report of tentative tariff truce. Japan’s Nikkei rose 1% and Hong Kong’s Hang Seng gained 1.1% on optimism regarding the G-20. The Shanghai Composite rebounded on Thursday on trade-war hopes and advanced 0.6% while Australia’s S&P/ASX 200 edged up over 0.2%.
The probability of a less aggressive Fed and expectations of a Sino-China trade truce helped ease the selling pressure on the U.S. dollar, which inched up to 96.276 on a basket of currencies from a three-month trough of 95.843. Ten-year Treasury yields edged up after rising on Wednesday, while Gold prices broke a six week winning stretch and slid lower on Wednesday in Asia as U.S. Federal Reserve Chairman played down expectations for an aggressive rate cut.
Oil prices ran into profit-taking in early Asia, giving back some of their gains overnight following the release of data that showed a huge plunge in U.S. crude inventories.
Upcoming Events:
- All Day – (EUR) German Prelim CPI m/m
- 01:30 PM GMT – (USD) Final GDP q/q
- &more..
