Global Markets:
- Asian Stock Markets : Nikkei up 0.28%, Shanghai Composite down 0.35%, Hang Seng up 0.18%, ASX up 0.41%
- Commodities : Gold at $1210.30 (-0.34%), Silver at $14.69 (-0.57%), Brent Oil at $76.28 (-0.01%), WTI Oil at $68.53 (0.00%)
- Rates : US 10-year yield at 2.873, UK 10-year yield at 1.454, Germany 10-year yield at 0.385
News & Data:
- (USD) Richmond Manufacturing Index 24 vs 18 expected
- (USD) CB Consumer Confidence 133.4 vs 126.6 expected
- (USD) S&P/CS Composite-20 HPI y/y 6.30% vs 6.40% expected
- (USD) Prelim Wholesale Inventories m/m 0.70% vs 0.10% expected
- (USD) Goods Trade Balance -72.2B vs -68.6B expected
- (EUR) Private Loans y/y 3.00% vs 3.00% expected
- (EUR) M3 Money Supply y/y 4.00% vs 4.30% expected
- Canada Ready To Give Way On Dairy For Nafta Deal
- BoJ’s Suzuki: Need To Pay More Attention To Impact Monetary Policy Has On Bond And Other Financial Markets
Markets Update:
Asian stock markets are mostly higher on Wednesday following the positive cues from Wall Street as worries about global trade wars eased slightly. Investors digested news that Canada's Foreign Minister Chrystia Freeland has arrived in Washington to resume talks about the future of the three-nation North American Free Trade Agreement or NAFTA, after the U.S. and Mexico agreed to a new trade deal on Monday. Optimism over the U.S.-Mexico trade deal was quickly clouded by caution ahead of a looming deadline on tariffs with China.
The Japanese stock market is modestly higher following the positive cues from Wall Street and on a slightly weaker yen as worries about global trade wars eased. Japan's Nikkei 225 was up by 0.28 percent, with the shipping sector up by 2.9 percent. South Korea's Kospi also traded higher by 0.25 percent. The mainland China markets were in negative territory.
The Shanghai composite fell by 0.35 percent while the Shenzhen composite dropped by around 0.68 percent. Hong Kong's Hang Seng index traded by about 0.18 percent higher, even though information technology sector fell around 0.31 percent. The ASX 200 was up 0.4 percent after trading largely flat earlier. Investors digested mixed corporate earnings results. Gains by banks were offset by weakness in gold miners and oil stocks.
Major currencies were quiet, with the dollar index all but flat at 94.718 after touching a four-week low overnight. In commodity markets, spot gold was hovering around $1,203.81 after running into profit-taking at $1,214.28, its highest level since Aug. 10. Oil prices dithered either side of flat as falling supplies from Iran ahead of U.S. sanctions balanced rising production outside the Organization of the Petroleum Exporting Countries.
Upcoming Events:
- 01:30 PM GMT – (CAD) Current Account
- 01:30 PM GMT – (USD) Prelim GDP q/q
- 03:30 PM GMT – (USD) Crude Oil Inventories
- &more…
