Global Markets:
- Asian Stock Markets : Nikkei down 0.10%, Shanghai Composite down 0.40%, Hang Seng up 0.60%, ASX down 0.83%
- Commodities : Gold at $1288.90 (-0.15%), Silver at $16.48 (-0.24%), Brent at $79.37 (+0.19%), WTI Oil at $72.52 (+0.23%)
- Rates : US 10-year yield at 3.054, UK 10-year yield at 1.476, Germany 10-year yield at 0.522
News & Data:
- (AUD) CB Leading Index m/m 0.20% vs 0.20% previous
- (NZD) Credit Card Spending y/y 7.00% vs 7.40% previous
- (JPY) Trade Balance 0.55T vs 0.11T expected
- (GBP) Rightmove HPI m/m 0.80% vs 0.40% previous
- (NZD) Core Retail Sales q/q 0.60% vs 1.10% expected
- (NZD) Visitor Arrivals m/m -1.30% vs -1.50% previous
- (NZD) Retail Sales q/q 0.10% vs 1.00% expectedtrade
- US stocks rise and NAB pushes back date for assumed rate hike
- Commodity currencies are beaming on the back of surging Commodity Indexes as oil prices broke through last week high water mark
Markets Update:
Asian stock markets are mostly lower on Tuesday despite the overnight gains on Wall Street as investors looked for fresh cues after trade tensions between the U.S. and China eased. A strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases. Markets in South Korea and Hong Kong are closed for holidays.
Japan’s Nikkei was mostly flat while Australian shares fell 0.9 percent. Chinese shares opened in the red with the blue-chip CSI300 off 0.7 percent. T
he Australian market is declining despite the positive cues overnight from Wall Street amid an easing in U.S.-China trade tensions and higher oil prices. Mining and bank stocks are among the leading decliners.
The dollar hovered near five-month highs against a basket of currencies, boosted by the U.S.-China trade optimism.
Oil stocks are also mostly higher after crude oil prices touched a three-and-a-half year high overnight. Oil Search is rising 0.2 percent and Santos is advancing 0.6 percent, while Woodside Petroleum is declining more than 1 percent.
Upcoming Events:
- 06:00 AM GMT – (JPY) BOJ Core CPI y/y
- 09:15 AM GMT – (GBP) MPC Member Vlieghe Speaks
- 09:30 AM GMT – (GBP) Public Sector Net Borrowing
- 10:00 am GMT – (GBP) Inflation Report Hearings
- 11:00 am GMT – (GBP) CBI Industrial Order Expectations
- Tentative – (EUR) German Buba Monthly Report
- 1:30 pm GMT – (CAD) Wholesale Sales m/m
- 2:00 pm GMT – (CNY) CB Leading Index m/m
- 3:00 pm GMT – (USD) Richmond Manufacturing Index
