Global Markets:
- Asian Stock Markets : Nikkei down 1.19%, Shanghai Composite down 1.63%, Hang Seng down 2.01%, ASX down 0.54%
- Commodities : Gold at $1223.10 (-0.18%), Silver at $14.37 (-0.26%), Brent Oil at $66.55 (-0.36%), WTI Oil at $57.06 (-0.24%)
- Rates : US 10-year yield at 3.065, UK 10-year yield at 1.377, Germany 10-year yield at 0.372
News & Data:
- (USD) NAHB Housing Market Index 60 vs 67 expected
- (EUR) Current Account 17.0B vs 24.2B expected
- (GBP) Rightmove HPI m/m -1.70% vs 1.00% previous
- (JPY) Trade Balance -0.30T vs -0.48T expected
- China Central Bank Needs Regular Media Briefings, IMF Paper Says
- Federal Reserve governor Randal Quarles poised to become FSB chair
- Kuroda: I believe we will be able to gradually achieve 2% inflation
Markets Update:
Asian stock markets skidded on Tuesday, extending sharp losses on Wall Street as technology firms bore the brunt of worries about slackening demand, while the dollar sagged after weak U.S. data further sapped confidence in the currency.
Shares of Japanese automaker Nissan were down 5.51 percent in afternoon trade on Tuesday after its chairman, Carlos Ghosn, was arrested a day earlier over allegations of financial misconduct. The broader Japanese market also fell Tuesday afternoon, with the benchmark Nikkei 225 down 1.2 percent and the Topix index lower by 0.9 percent.
The mainland Chinese markets were also negative territory by the end of the morning session. The Shanghai composite fell 1.63 percent while the Shenzhen composite shed 1.76 percent. Hong Kong's Hang Seng index also fell 2.01 percent. Australia's ASX 200 was down 0.47 percent in afternoon trade, with almost all sectors in negative territory.
In currencies, the dollar struggled at a near two-week low against a basket of currencies. The greenback was hit after data released on Monday showed U.S. home builder sentiment recorded its steepest one-month drop in over 4-1/2 years in November. Crude oil ran out of steam after gaining the previous day on reported drawdown of U.S. oil inventories, potential European Union sanctions on Iran and possible OPEC production cuts.
Upcoming Events:
- 09:20 AM GMT – (AUD) RBA Gov Lowe Speaks
- Tentative – (All) OPEC-JMMC Meetings
- 11:00 AM GMT – (GBP) Inflation Report Hearings
- 02:30 PM GMT – (USD) Building Permits
- 02:30 PM GMT – (USD) Housing Starts
- 04:00 PM GMT – (EUR) German Buba President Weidmann Speaks
- 06:45 PM GMT – (CAD) Gov Council Member Wilkins Speaks
- 11:00 PM GMT – (CAD) Gov Council Member Lane Speaks
- &more…
