Global Markets:
- Asian Stock Markets : Nikkei up 0.19%, Shanghai Composite down 0.51%, Hang Seng down 0.16%, ASX up 0.95%
- Commodities : Gold at $1274.50 (-0.24%), Silver at $14.91 (-0.45%), Brent Oil at $74.47 (+0.58%), WTI Oil at $66.07 (+0.79%)
- Rates : US 10-year yield at 2.583, UK 10-year yield at 1.213, Germany 10-year yield at 0.036
News & Data:
- (JPY) BOJ Core CPI y/y 0.50% vs 0.50% expected
- (NZD) Credit Card Spending y/y 5.10% vs 6.40% previous
- (USD) Existing Home Sales 5.21M vs 5.31M expected
- China to be exposed to sanctions as US says it will end Iran oil import waivers on May 1
- Fitch: China property sales drop seen less severe than forecast
Markets Update:
Asian stock markets are mostly higher on Tuesday with modest gains following the mixed cues overnight from Wall Street. Investors are cautious as they look ahead to the major corporate earnings results due this week and on concerns that the Chinese government may slow down monetary easing. Meanwhile, the surge in crude oil prices to nearly six-month highs boosted energy stocks.
Mainland Chinese shares were lower by the morning session’s end, with the Shanghai composite slipping more than 0.5 percent and the Shenzhen component falling around 0.7 percent. Shares on the mainland had fallen in Monday’s session following a South China Morning Post report that Beijing could refocus on structural reforms instead of offering stimulus measures after it claimed better-than-expected economic growth in the first quarter.
The Hang Seng index declined slightly, as Hong Kong-listed shares of China Construction Bank fell by more than 1 percent. Australia’s ASX 200, which was closed on Monday for a holiday, gained 1 percent as almost all sectors advanced.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 97.314 after seeing an earlier low of 97.282. Oil prices surged to nearly six-month highs on Monday after U.S. President Donald Trump’s administration announced that all oil buyers would need to cease imports from Iran by early May.
Upcoming Events:
Wednesday, April 24, 2019
- 02:30 AM GMT – (AUD) CPI q/q
- 02:30 AM GMT – (AUD) Trimmed Mean CPI q/q
- 09:00 AM GMT – (EUR) German Ifo Business Climate
- 09:30 AM GMT – (GBP) Public Sector Net Borrowing
- 03:00 PM GMT – (CAD) BOC Monetary Policy Report
- 03:00 PM GMT – (CAD) BOC Rate Statement
- 03:00 PM GMT – (CAD) Overnight Rate
- 04:15 PM GMT – (CAD) BOC Press Conference
Thursday, April 25, 2019
- Tentative – (JPY) BOJ Outlook Report
- Tentative – (JPY) Monetary Policy Statement
- Tentative – (JPY) BOJ Press Conference
- 08:00 AM GMT – (EUR) Spanish Unemployment Rate
- 01:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 01:30 PM GMT – (USD) Durable Goods Orders m/m
- Tentative – (USD) Treasury Currency Report
- 11:45 PM GMT – (NZD) Trade Balance
Friday, April 26, 2019
- 09:00 AM GMT – (CHF) SNB Chairman Jordan Speaks
- 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…
