Global Markets:
- Asian Stock Markets : Nikkei up 0.59%, Shanghai Composite down 0.92%, Hang Seng up 0.53%, ASX up 0.81%
- Commodities: Gold at $1468.05 (-0.33%), Silver at $16.98 (-0.12%), Brent Oil at $59.54 (+0.49%), WTI Oil at $54.34 (+0.50%)
- Rates : US 10-year yield at 1.708, UK 10-year yield at 0.486, Germany 10-year yield at -0.549
News & Data:
- (GBP) M4 Money Supply m/m 0.40% vs 0.50% expected
- (GBP) Final GDP q/q -0.20% vs -0.20% expected
- (GBP) Current Account -25.2B vs -19.2B expected
- (EUR) Italian Monthly Unemployment Rate 9.50% vs 9.90% expected
- (EUR) German Unemployment Change -10K vs 5K expected
- (EUR) German Prelim CPI m/m 0.00% vs -0.20% previous
- (EUR) Spanish Flash CPI y/y 0.10% vs 0.30% expected
- (CHF) KOF Economic Barometer 93.2 vs 96.2 expected
- (EUR) German Retail Sales m/m 0.50% vs 0.50% expected
- (JPY) Housing Starts y/y -7.10% vs -6.10% expected
- (CNY) Caixin Manufacturing PMI 51.4 vs 50.2 expected
- (AUD) Private Sector Credit m/m 0.20% vs 0.30% expected
- (CNY) Non-Manufacturing PMI 53.7 vs 53.9 expected
- (CNY) Manufacturing PMI 49.8 vs 49.6 expected
- (AUD) MI Inflation Gauge m/m 0.10% vs 0.00% previous
- (NZD) ANZ Business Confidence -53.5 vs -52.3 previous
- (GBP) Mortgage Approvals 66K vs 67K expected
- (GBP) Net Lending to Individuals m/m 4.8B vs 5.1B expected
- (GBP) Revised Business Investment q/q -0.40% vs -0.50% expected
- (EUR) Italian Prelim CPI m/m -0.50% vs -0.30% expected
- (EUR) Unemployment Rate 7.40% vs 7.50% expected
- (CAD) RMPI m/m -1.80% vs 1.30% expected
- (CAD) IPPI m/m 0.20% vs -0.20% expected
- (USD) Chicago PMI 47.1 vs 50 expected
- (NZD) NZIER Business Confidence -40 vs -34 previous
- (AUD) AIG Manufacturing Index 54.7 vs 53.1 previous
- (JPY) Unemployment Rate 2.20% vs 2.30% expected
- (JPY) Tankan Manufacturing Index 5 vs 1 expected
- (JPY) Tankan Non-Manufacturing Index 21 vs 20 expected
- (JPY) Final Manufacturing PMI 48.9 vs 49.3 expected
- (AUD) Building Approvals m/m -1.10% vs 2.10% expected
- (JPY) 10-y Bond Auction -0.16|3.4 vs -0.27|3.6 previous
- (AUD) Cash Rate 0.75% vs 0.75% expected
- (GBP) Nationwide HPI m/m -0.20% vs 0.10% expected
Markets Update:
Asian share prices inched up on Tuesday as some investors clung to hopes that the fourth quarter will bring progress in resolving the United-States trade war that’s cast a shadow over the global economy. Also, Australia’s central bank has cut its benchmark interest rate by a quarter of a percentage point for the third time since June to a new record low of 0.75%, seeking to boost a flagging economy.
Japan’s Nikkei rose 0.59% while Australia’s benchmark rose by 0.81%. Chinese markets will be shut for a week, starting on Tuesday, to mark 70 years since the founding of the People’s Republic of China. The Hong Kong is trading 0.53% higher on Tuesday, boosted by heavyweights in telecom and energy, while fears about the US delisting Chinese companies weighed on sentiment in mainland China
Treasury yields fell from their highs on Monday as bond fund managers bought debt as part of routine rebalancing operations before the end of a month, capping off a volatile month that saw long-term government bond rates turn higher after staging a breathless rally in August. The 10-year Treasury note yield was virtually unchanged at 1.7%, but was up 17.2 basis points for the month, marking its biggest monthly rise since September 2018.
In the currency market, the euro extended its decline on worries about sluggish growth in the currency bloc. The yen was slightly weaker at 108.24 yen to the dollar, not far from last month’s low of 108.48. Gold fell to a two-month low on the back of a robust U.S. dollar, last trading at $1,468.05 per ounce.
Oil prices rebounded in early Asian trade on Tuesday after production at the world’s largest oil producers fell in the third quarter, although demand concerns continued to keep a keep a lid on prices. U.S. West Texas Intermediate (WTI) crude fell 3.3% on Monday before rise 0.5% early on Tuesday to $54.34 per barrel.
Upcoming Events:
- 8:00 am GMT – (EUR) Final Manufacturing PMI
- 8:30 am GMT – (GBP) Manufacturing PMI
- 9:00 am GMT – (EUR) CPI Flash Estimate y/y
- 9:00 am GMT – (EUR) Core CPI Flash Estimate y/y
- 9:20 am GMT – (AUD) RBA Gov Lowe Speaks
- 12:30 pm GMT – (CAD) GDP m/m
- 12:50 pm GMT – (USD) FOMC Member Clarida Speaks
- 1:15 pm GMT – (USD) FOMC Member Bullard Speaks
- 1:30 pm GMT – (CAD) Manufacturing PMI
- 1:30 pm GMT – (USD) FOMC Member Bowman Speaks
- 1:45 pm GMT – (USD) Final Manufacturing PMI
- 2:00 pm GMT – (USD) ISM Manufacturing PMI
- 2:00 pm GMT – (USD) Construction Spending m/m
- 2:00 pm GMT – (USD) ISM Manufacturing Prices
- All Day – (USD) Wards Total Vehicle Sales
- Tentative – (NZD) GDT Price Index
- 5:30 pm GMT – (EUR) German Buba President Weidmann Speaks
- 11:01 pm GMT – (GBP) BRC Shop Price Index y/y
- 11:50 pm GMT – (JPY) Monetary Base y/y
- &more…
