Global Markets:
- Asian Stock Markets : Nikkei up 0.11%, Shanghai Composite up 0.00%, Hang Seng down 0.28%, ASX up 1.00%
- Commodities : Gold at $1493.15 (0.00%), Silver at $17.60 (+0.02%), Brent Oil at $61.78 (+0.06%), WTI Oil at $56.41 (+0.11%)
- Rates : US 10-year yield at 1.814, UK 10-year yield at 0.730, Germany 10-year yield at -0.341
News & Data:
- (AUD) Trade Balance 7.18B vs 5.10B expected
- (USD) 10-y Bond Auction 1.81|2.5 vs 1.59|2.4 previous
- (USD) Crude Oil Inventories 7.9M vs 1.9M expected
- U.S. work productivity falls for the first time in nearly 4 years
Markets Update:
Asian stock markets are mixed on Thursday in choppy trading following the lackluster cues overnight from Wall Street amid reports that the signing of an interim trade deal between the U.S. and China could be delayed until December. A senior Trump administration official reportedly said China’s latest push for more tariff rollbacks was not expected to derail progress toward an interim deal.
The Australian market is rising despite the mixed cues from Wall Street amid a lack of progress on the U.S.-China trade front. Investors also shrugged off weak earnings results from National Australia Bank. Banks and tech stocks are among the leading gainers.
Mainland Chinese stocks were mixed by the afternoon, with the Shanghai composite trading flat while the Shenzhen component rose 0.6%. In Japan, the Nikkei 225 was slightly lower while the Topix index was largely flat.
The pause in the risk rally helped bonds recoup a little of their recent losses. Yields on benchmark U.S. 10-year notes fell back to 1.81% from a two-month top of 1.87%. Oil prices nursed losses after taking a hit from a surprisingly large build in U.S. crude inventories.
Upcoming Events:
- 10:00 AM GMT – (EUR) EU Economic Forecasts
- 12:00 PM GMT – (GBP) BOE Monetary Policy Report
- 12:00 PM GMT – (GBP) MPC Official Bank Rate Votes
- 12:00 PM GMT – (GBP) Monetary Policy Summary
- 12:00 PM GMT – (GBP) Official Bank Rate
- 12:30 PM GMT – (GBP) BOE Gov Carney Speaks
- 06:01 PM GMT – (USD) 30-y Bond Auction
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