Global Markets:
- Asian Stock Markets : Nikkei down 0.06%, Shanghai Composite up 0.48%, Hang Seng up 0.43%, ASX down 1.58%
- Commodities : Gold at $1229.80 (-0.05%), Silver at $14.39 (-0.12%), Brent Oil at $60.12 (+0.35%), WTI Oil at $51.52 (+0.14%)
- Rates : US 10-year yield at 3.026, UK 10-year yield at 1.364, Germany 10-year yield at 0.326
News & Data:
- (CNY) Non-Manufacturing PMI 53.4 vs 53.8 expected
- (CNY) Manufacturing PMI 50 vs 50.2 expected
- (USD) Personal Spending m/m 0.60% vs 0.40% expected
- (USD) Core PCE Price Index m/m 0.10% vs 0.20% expected
- (CAD) Current Account -10.3B vs -11.9B expected
- (GBP) Net Lending to Individuals m/m 5.0B vs 4.5B expected
- (EUR) German Prelim CPI m/m 0.10% vs 0.20% expected
Markets Update:
Asia Pacific markets traded up Friday morning as investors waited for a highly-anticipated meeting between President Donald Trump and his Chinese counterpart Xi Jinping at the G-20 summit in Argentina, which many are hoping would help ease escalating trade tensions between the two countries.
Japan’s Nikkei 225 was trading near flat while the Topix index rose 0.6 percent. South Korea’s Kospi traded down 0.8 percent. Greater China markets traded higher: The Shanghai composite was up 0.5 percent while the Shenzhen composite added 0.3 percent. Hong Kong’s Hang Seng index was up 0.4 percent.
In Australia, the benchmark ASX 200 fell 1.6 percent in morning trade, with most sectors declining. Financial have led the losses in part due to a government-backed inquiry that has punished stocks. The last hearing of the inquiry was scheduled for Friday.
Minutes of the latest Fed policy meeting showed that almost all officials agreed another interest rate increase was “likely to be warranted fairly soon,” but opened debate on when to pause further hikes and how to relay those plans to the public. The yield on two-year U.S. Treasury notes, seen as sensitive to expectations of higher Fed fund rates, was at 2.8066 percent on Friday, down from a U.S. close of 2.813 percent. In commodities markets, crude prices extended gains on news that Russia is increasingly convinced it needs to reduce oil output along with the Organization of the Petroleum Exporting Countries (OPEC). OPEC and its allies are meeting in Vienna on Dec. 6-7
Upcoming Events:
- Day 1 GMT – (All) G20 Meetings
- 09:00 AM GMT – (CHF) KOF Economic Barometer
- 11:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 11:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 02:30 PM GMT – (CAD) GDP m/m
- 02:30 PM GMT – (CAD) RMPI m/m
- 03:00 PM GMT – (USD) FOMC Member Williams Speaks
- 03:45 PM GMT – (USD) Chicago PMI
- &more…
