Global Markets:
- Asian Stock Markets : Nikkei up 0.01%, Shanghai Composite down 0.38%, Hang Seng up 0.06%, ASX up 0.34%
- Commodities : Gold at $1253.20 (-0.23%), Silver at $16.07 (-0.50%), Brent Oil at $77.33 (-0.17%), WTI Oil at $72.47 (-0.40%)
- Rates : US 10-year yield at 2.837, UK 10-year yield at 1.246, Germany 10-year yield at 0.324
News & Data:
- (NZD) Official Cash Rate 1.75% vs 1.75% expected
- (USD) Crude Oil Inventories -9.9M vs -2.4M expected
- (USD) Durable Goods Orders m/m -0.60% vs -0.90% expected
- (USD) Core Durable Goods Orders m/m -0.30% vs 0.50% expected
- (EUR) M3 Money Supply y/y 4.00% vs 3.80% expected
- (CHF) Credit Suisse Economic Expectations 8 vs 28 previous
- Beijing says investor curbs may backfire
- President Trump Vows US Will Finish 'Trade War' It Didn't Start
- Automakers warn U.S. tariffs will cost hundreds of thousands of jobs, hike prices
Markets Update:
Asian stocks traded mixed Thursday as traders remained sceptical about the Trump administration’s announcement of less harsh measures on Chinese investments. Treasury yields steadied and emerging market currencies declined. Media reports released earlier on Wednesday claimed that Trump has softened the threat of new curbs on Chinese investment in U.S. firms. Separately, top U.S. economic advisor Larry Kudlow said the Trump administration has no intention of backing down from the current China situation.
In China, the markets have taken a battering as worries about a wobbly yuan and the trade spat with the United States have left investors bracing for a rocky final six months of the year. That will keep traders focused on China stocks which were hit by bruising sell-off on Wednesday, with blue chips slumping to their worst loss in over a year.
China's Shanghai Composite index was losing 0.4 percent, retreating after recouping early losses, while the yuan fell on concerns about the economic outlook. Japan's Nikkei index was moving down 0.3 percent despite automakers rebounding from recent heavy losses on tariff concerns.
U.S. oil prices hit a 3-1/2-year high as plunging U.S. crude stockpiles compounded supply worries in a market already uncertain about Libyan exports, a production disruption in Canada and Washington’s demands that importers stop buying Iranian crude.
Upcoming Events:
- All Day – (EUR) German Prelim CPI m/m
- 08:00 AM GMT – (EUR) Spanish Flash CPI y/y
- Day 1 – (EUR) EU Economic Summit
- 01:30 PM GMT – (USD) Final GDP q/q
- 01:30 PM GMT – (USD) Unemployment Claims
- 02:30 PM GMT – (GBP) MPC Member Haldane Speaks
- 05:00 PM GMT – (USD) FOMC Member Bostic Speaks
- &more…
