Global Markets:
- Asian stock markets: Nikkei down 1.12%, Hang Seng down 0.38%, ASX flat
- Commodities: Gold at $1342.20 (-1.03%), Silver at $16.510 (-1.21%), WTI Oil at $62.20 (+1.06%), Brent Oil at $65.47 (-0.30%)
- Rates: US 10-year yield at 2.904, UK 10-year yield at 1.598, German 10-year yield at 0.732
News & Data:
- (NZD) PPI Output q/q 1.00% vs 0.40% expected
- (NZD) PPI Input q/q 0.90% vs 0.30% expected
- (EUR) Current Account 29.9B vs 30.5B expected
- (GBP) Rightmove HPI m/m 0.80% vs 0.70% previous
- Japan’s steel industry warns against Trump’s tariffs
- Dutch activate 'hard Brexit' plan and blame 'a lack of clarity' from the UK
Markets Update:
Asian markets traded lower today, on a relatively quiet day, with Mainland China still off for the Lunar New Year holiday, and US off for President’s Day. Thin volumes were suspected to be partly responsible for the larger moves.
Nikkei traded roughly a percent lower, as financials, manufacturers and energy companies all traded in the red. In Korea, tech stocks recorded losses, in contrast to Japan where they were mixed.
The ASX was mostly flat today, as the RBA’s minutes indicated that wage growth was yet to pick up despite a robust job market, and that household debt was still at concerning levels. The ASX was supported by energy stocks, while miners lagged, owing to metal declines as a result of a stronger dollar. Hong Kong traded mixed.
The dollar firmed in the overnight trade, with the US dollar index trading firmly above last week’s low of 88.253. The yen weakened slightly against the dollar, off Monday’s low of 106.08 against the dollar. The Aussie dollar was largely flat, affected slightly by the stronger dollar.
While most commodities fell due to a stronger dollar, oil traded mixed – with WTI up 1% and Brent Crude down 0.26%.
Upcoming Events:
- 12:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 10:00 AM GMT – (EUR) German ZEW Economic Sentiment
- 01:30 PM GMT – (CAD) Wholesale Sales m/m
- Tentative – (NZD) GDT Price Index
- &more…
