Global Markets:
- Asian Stock Markets : Shanghai Composite down 1.04%, Hang Seng down 1.69%, ASX up 0.31%
- Commodities : Gold at $1199.60 (-0.12%), Silver at $14.11 (-0.26%), Brent Oil at $77.96 (-0.17%), WTI Oil at $68.66 (-0.16%)
- Rates : US 10-year yield at 2.959, UK 10-year yield at 1.484, Germany 10-year yield at 0.414
News & Data:
- (USD) Prelim UoM Consumer Sentiment 100.8 vs 96.7 expected
- (USD) Retail Sales m/m 0.10% vs 0.40% expected
- (USD) Core Retail Sales m/m 0.30% vs 0.50% expected
- 70-yr-olds and above account for 20% of Japan population for 1st time
- Beijing urged to print more money to help China cope with Donald Trump’s trade war
CFTC Positioning Data (Week Ending Sep 11th, 2018):
- EUR long 11K vs 8K long last week. Longs increased by 3K in
- GBP short 61K vs 70K short last week. Shorts trimmed 9K
- JPY short 54K vs 52K short last week. Shorts increased 2K
- CHF short 35K vs 40K short last week. Shorts trimmed 5K
- CAD short 27K vs 26K short last week. Shorts increased 1K
- AUD short 44k vs 44k short last week. Unchanged.
- NZD short 23K vs 25K short last week. Shorts trimmed by 2K
Markets Update:
Asian markets were lower on a day of low liquidity trades, owing to the Japanese holiday. News that the U.S. plans to impose tariffs on an additional $200 billion worth of Chinese goods as early as this week despite attempts to restart trade talks with Beijing battered investor sentiment across the region.
Greater China markets also fell deeper into negative territory, with Hong Kong's Hang Seng index dropping by 1.69 percent after its recovery late last week. Over on the mainland, the Shanghai composite traded down by 1.04 percent while the Shenzhen composite fell by 1.415 percent.
In South Korea, the Kospi saw extended losses of 0.77 percent in the afternoon, with industry heavyweight Samsung Electronics falling further to trade 1.74 percent down. The Australian market recovered after a weak start in cautious trades amid rising U.S.-China trade tensions. However, shares in aged-care providers fell after Australian Prime Minister Scott Morrison announced a royal commission into the sector due to an "alarming and disturbing" spike in elder abuse and poor standards in the industry.
In currency markets the dollar index was a fraction firmer at 94.940, having bounced from a low of 94.359 at the end of last week. Oil prices eased as the Sino-U.S. trade dispute outweighed the risks to supply from upcoming sanctions on Iran. Brent dipped 4 cents to $78.06 a barrel, while U.S. crude fell 8 cents to $68.91.
Upcoming Events:
- 10:00 AM GMT – (EUR) Final CPI y/y
- 01:30 PM GMT – (CAD) Foreign Securities Purchases
- 01:30 PM GMT – (USD) Empire State Manufacturing Index
- &more…
