Global Markets:
- Asian Stock Markets : Nikkei up 0.42%, Shanghai Composite down 0.22%, Hang Seng down 0.14%, ASX up 0.82%
- Commodities : Gold at $1223.60 (-0.17%), Silver at $15.46 (-0.23%), Brent Oil at $74.54 (0.00%), WTI Oil at $69.62 (+0.01%)
- Rates : US 10-year yield at 2.977, UK 10-year yield at 1.280, Germany 10-year yield at 0.413
News & Data:
- (USD) Unemployment Claims 217K vs 215K expected
- (USD) Durable Goods Orders m/m 1.00% vs 3.00% expected
- (USD) Core Durable Goods Orders m/m 0.40% vs 0.50% expected
- (EUR) Main Refinancing Rate 0.00% vs 0.00% expected
- (EUR) Spanish Unemployment Rate 15.30% vs 15.80% expected
- BOJ offers to buy an unlimited amount of 10-Year JGBs at 0.10%
- China Pumps $74B Into Banks Amid Credit Crisis
Markets Update:
Asian stock markets were mixed on Friday, though the regional share gauge still headed to cap the strongest week since early June, following a series of steps by China shifting to stimulus mode.
Japanese equities climbed for a fourth day, shrugging off a decline in Nomura Holdings Inc. following a profit slide. Intensifying speculation about tweaks to the Bank of Japan’s stimulus program saw 10-year yields briefly trading above 0.1 percent — against the BOJ target of about zero — before slipping as the central bank said it offered to buy bonds.
Markets in China were little changed, with the Shanghai Composite lower by 0.24 percent and the Shenzhen Composite pulling back by 0.29 percent. In Hong Kong, the Hang Seng Index eased 0.17 percent, off its intraday low, as gains in materials and property stocks were offset by declines in services and utilities. Bucking the trend, the Australian market is advancing, led by banking and oil stocks.
The dollar index, which tracks the U.S. currency against a basket of peers, was mostly steady at 94.697 as investors awaited the Friday release of second-quarter U.S. GDP due during U.S. hours. The European Central Bank said Thursday it will stick to its plan to end bond purchases and pledged to keep interest rates unchanged “at least through the summer of 2019.” In Japan, reports suggest officials are debating ways to reduce the side effects of their yield-curve control policy. Elsewhere, West Texas crude held gains after an attack on Saudi tankers stoked supply concerns. The Turkish lira took another beating Thursday after Trump threatened sanctions if the nation doesn’t release an American pastor.
Upcoming Events:
- 01:30 PM GMT – (USD) Advance GDP q/q
- 01:30 PM GMT – (USD) Advance GDP Price Index q/q
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
- &more…
