Global Markets:
- Asian Stock Markets : Nikkei down 1.29%, Shanghai Composite down 0.04%, Hang Seng down 0.01%, ASX down 0.21%
- Commodities : Gold at $1294.90 (+0.41%), Silver at $16.46 (+0.34%), Brent at $79.53 (-0.34%), WTI Oil at $71.64 (-0.28%)
- Rates : US 10-year yield at 2.979, UK 10-year yield at 1.442, Germany 10-year yield at 0.507
News & Data:
- (NZD) Trade Balance 263M vs 200M expected
- (USD) Crude Oil Inventories 5.8M vs -2.5M expected
- (GBP) RPI y/y 3.40% vs 3.40% expected
- (GBP) PPI Input m/m 0.40% vs 1.00% expected
- (GBP) CPI y/y 2.40% vs 2.50% expected
- (EUR) Flash Services PMI 53.9 vs 54.7 expected
- (EUR) Flash Manufacturing PMI 55.5 vs 56.1 expected
- (EUR) German Flash Services PMI 52.1 vs 53.1 expected
- (EUR) German Flash Manufacturing PMI 56.8 vs 57.9 expected
- (EUR) French Flash Services PMI 54.3 vs 57.1 expected
- (EUR) French Flash Manufacturing PMI 55.1 vs 53.6 expected
- (AUD) Construction Work Done q/q 0.20% vs 1.10% expected
- China does not pledge a number to US trade surplus cut
- Li Hopes For A Strong Euro
Markets Update:
Asian stock markets are mixed on Thursday as growing trade concerns overshadowed dovish minutes of the U.S. Federal Reserve's latest monetary policy meeting. The U.S. government launched a national security probe into auto imports that could lead to new tariffs, and President Donald Trump’s comments indicated fresh setbacks in U.S.-China trade talks.
The Japanese market is extending losses from the previous session on a firmer safe-haven yen more than offset the modest gains on Wall Street. The Australian market is edging higher after a weak start following the modest gains overnight on Wall Street and a fall in base metals prices.
The two-year Treasury note yield, which rises with traders’ expectations of higher Fed fund rates, was at 2.5121 percent after touching 2.5970 on Wednesday. The yield on benchmark 10-year Treasury notes fell back below the 3-percent threshold to 2.9825 percent, compared with its U.S. close of 3.003 percent on Wednesday.
Crude oil prices fell Wednesday after the Energy Information Administration reported a massive increase in crude oil stockpiles. WTI crude for July lost $0.36 or 0.5 percent to settle at $71.84 a barrel on the New York Mercantile Exchange.
Upcoming Events:
- 9:00 am GMT – (GBP) BOE Gov Carney Speaks
- 9:15 am GMT – (USD) FOMC Member Dudley Speaks
- 9:30 am GMT – (GBP) Retail Sales m/m
- 12:30 pm GMT – (EUR) ECB Monetary Policy Meeting Accounts
- 12:00 AM GMT – (USD) Unemployment Claims
- 3:00 pm GMT – (USD) Existing Home Sales
- 3:35 pm GMT – (USD) FOMC Member Bostic Speaks
- 5:00 pm GMT – (GBP) BOE Gov Carney Speaks
- &more…
