Global Markets:
- Asian Stock Markets : Nikkei down 0.55%, Shanghai Composite down 0.20%, Hang Seng down 0.18%, ASX up 0.06%
- Commodities : Gold at $1481.25 (+0.04%), Silver at $17.09 (+0.09%), Brent Oil at $65.77 (-0.50%), WTI Oil at $60.44 (-0.71%)
- Rates : US 10-year yield at 1.875, UK 10-year yield at 0.764, Germany 10-year yield at -0.293
News & Data:
- (USD) Building Permits 1.48M vs 1.41M expected
- (CAD) Manufacturing Sales m/m -0.70% vs 0.00% expected
- (GBP) Average Earnings Index 3m/y 3.20% vs 3.40% expected
- SNB President Jordan: At The Moment, A Further Cut Is Not Necessary
- Japan’s Exports Continue to Fall Despite Global Green Shoots
Markets Update:
Asian stock markets are mostly lower on Wednesday following the modest gains overnight on Wall Street and as trade worries eased following the agreement on a U.S.-China trade deal. However, renewed concerns about Brexit weighed on sentiment following reports that British Prime Minister Boris Johnson is taking a hard line on Britain’s transition period for leaving the European Union.
Japan’s Nikkei 225 lost 0.6%, while the Topix slumped 0.5%. Japan’s exports fell 7.9% in November from a year earlier, declining for the 12th straight month, according to data from the country’s Ministry of Finance on Wednesday. However, it still beat a forecast of a 8.6% drop in a Reuters poll, and was better than the 9.2% decline in October.
In mainland China, the Shanghai composite was down 0.2%, while the Shenzhen composite fell 0.1%. Hong Kong’s Hang Seng index was down 0.2%. Australia’s ASX 200 was flat, with banks and major miners declining.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 97.337 after touching lows below 97.0 earlier this week. The pound was down another 0.2% on Wednesday at $1.3096 having shed all the gains made during the Conservative Party’s big election win.
Oil prices eased from three-month highs as data showed U.S. crude stocks rose unexpectedly in the most recent week.
Upcoming Events:
- 08:30 AM GMT – (EUR) ECB President Lagarde Speaks
- 09:00 AM GMT – (EUR) German Ifo Business Climate
- 09:30 AM GMT – (GBP) CPI y/y
- 09:30 AM GMT – (GBP) PPI Input m/m
- 01:30 PM GMT – (CAD) CPI m/m
- 01:30 PM GMT – (CAD) Common CPI y/y
- 01:30 PM GMT – (CAD) Median CPI y/y
- 01:30 PM GMT – (CAD) Trimmed CPI y/y
- 03:30 PM GMT – (USD) Crude Oil Inventories
- 09:45 PM GMT – (NZD) GDP q/q
- &more…