Global Markets:
- Asian Stock Markets : Nikkei up 1.05%, Shanghai Composite down 0.16%, Hang Seng down 1.03%, ASX up 0.06%
- Commodities: Gold at $1512.15 (+0.84%), Silver at $17.95 (+2.16%), Brent Oil at $66.35 (+10.18%), WTI Oil at $59.62 (+8.80%)
- Rates : US 10-year yield at 1.868, UK 10-year yield at 0.758, Germany 10-year yield at -0.457
News & Data:
- (CNY) Fixed Asset Investment ytd/y 5.50% vs 5.70% expected
- (GBP) Rightmove HPI m/m -0.20% vs -1.00% previous
- (USD) Prelim UoM Inflation Expectations 2.80% vs 2.70% previous
- (USD) Business Inventories m/m 0.40% vs 0.30% expected
- (USD) Prelim UoM Consumer Sentiment 92 vs 90.4 expected
- (USD) Import Prices m/m -0.50% vs -0.50% expected
- (USD) Retail Sales m/m 0.40% vs 0.20% expected
- (USD) Core Retail Sales m/m 0.00% vs 0.10% expected
- (EUR) Trade Balance 19.0B vs 17.5B expected
- (EUR) German WPI m/m -0.80% vs 0.20% expected
- (JPY) Revised Industrial Production m/m 1.30% vs 1.30% expected
- (CNY) Industrial Production y/y 4.40% vs 5.20% expected
- (CNY) Retail Sales y/y 7.50% vs 7.90% expected
- (CNY) Unemployment Rate 5.20% vs 5.30% previous
Markets Update:
Asian markets are mixed in early trading Monday as global crude futures soared following the weekend attack on Saudi Arabian oil facilities. The U.S. Federal Reserve is widely expected to lower interest rates again at the conclusion of its two day policy meeting on Wednesday. Thursday will bring policy meetings in Japan, the U.K., Norway and Switzerland. Investor anxiety about the U.S.-Chinese tariff war eased following conciliatory gestures last week by both sides ahead of planned negotiations next month on their conflict over trade and technology.
China’s Shanghai Composite inched up 0.16% after data showed on Monday morning that the country’s industrial production rose 4.4% in August from a year earlier. Hang Seng slides over 1% amid more worrying economic news from China and as Hong Kong entered its fifteenth week of demonstrations. Tens of thousands of protesters marched on the streets on Sunday even after police objected to the event. Down under, Australia’s ASX 200 is flat at 0.06% while Japanese markets are closed on Monday for a public holiday.
The dollar fell while safe havens and currencies of oil-producing countries rallied on Monday, following an attack on Saudi Arabian refining facilities that disrupted global oil supply and heightened Middle East tensions. The safe-haven Japanese yen and Swiss franc both firmed. The yen rose 0.3% to 107.79 per dollar and the dollar edged lower to 98.162 against a basket of currencies. Gold prices jumped 0.84% on Monday as an attack on Saudi Arabia’s oil facilities dented risk appetite, boosting demand for the safe-haven bullion, while investors awaited for clues on monetary easing from major central bank meetings due this week.
Upcoming Events:
Monday, September 16, 2019
- All Day – (JPY) Bank Holiday
- 2:00 am GMT – (CNY) Fixed Asset Investment ytd/y
- 2:00 am GMT – (CNY) Industrial Production y/y
- 2:00 am GMT – (CNY) Retail Sales y/y
- 2:00 am GMT – (CNY) Unemployment Rate
- 12:30 pm GMT – (CAD) Foreign Securities Purchases
- 12:30 pm GMT – (USD) Empire State Manufacturing Index
- 9:00 pm GMT – (NZD) Westpac Consumer Sentiment
Tuesday, September 17, 2019
- 1:30 am GMT – (AUD) Monetary Policy Meeting Minutes
- 1:30 am GMT – (AUD) HPI q/q
- 5:45 am GMT – (CHF) SECO Economic Forecasts
- 9:00 am GMT – (EUR) German ZEW Economic Sentiment
- 9:00 am GMT – (EUR) ZEW Economic Sentiment
- 12:30 pm GMT – (CAD) Manufacturing Sales m/m
- 1:15 pm GMT – (USD) Capacity Utilization Rate
- 1:15 pm GMT – (USD) Industrial Production m/m
- 2:00 pm GMT – (USD) NAHB Housing Market Index
- 2:30 pm GMT – (AUD) CB Leading Index m/m
- Tentative – (NZD) GDT Price Index
- 8:00 pm GMT – (USD) TIC Long-Term Purchases
- 10:45 pm GMT – (NZD) Current Account
- 11:50 pm GMT – (JPY) Trade Balance
Wednesday, September 18, 2019
- 12:30 am GMT – (AUD) MI Leading Index m/m
- 8:30 am GMT – (GBP) CPI y/y
- 8:30 am GMT – (GBP) PPI Input m/m
- 8:30 am GMT – (GBP) Core CPI y/y
- 8:30 am GMT – (GBP) HPI y/y
- 8:30 am GMT – (GBP) PPI Output m/m
- 8:30 am GMT – (GBP) RPI y/y
- 9:00 am GMT – (EUR) Final CPI y/y
- 9:00 am GMT – (EUR) Final Core CPI y/y
- Tentative – (EUR) Italian Trade Balance
- Tentative – (EUR) German 30-y Bond Auction
- 12:30 pm GMT – (CAD) CPI m/m
- 12:30 pm GMT – (CAD) Common CPI y/y
- 12:30 pm GMT – (CAD) Median CPI y/y
- 12:30 pm GMT – (CAD) Trimmed CPI y/y
- 12:30 pm GMT – (CAD) Core CPI m/m
- 12:30 pm GMT – (USD) Building Permits
- 12:30 pm GMT – (USD) Housing Starts
- 2:30 pm GMT – (USD) Crude Oil Inventories
- 6:00 pm GMT – (USD) FOMC Economic Projections
- 6:00 pm GMT – (USD) FOMC Statement
- 6:00 pm GMT – (USD) Federal Funds Rate
- 6:30 pm GMT – (USD) FOMC Press Conference
- 10:45 pm GMT – (NZD) GDP q/q
Thursday, September 19, 2019
- 1:30 am GMT – (AUD) Employment Change
- 1:30 am GMT – (AUD) Unemployment Rate
- 1:30 am GMT – (AUD) RBA Bulletin
- Tentative – (JPY) Monetary Policy Statement
- Tentative – (JPY) BOJ Policy Rate
- 4:30 am GMT – (JPY) All Industries Activity m/m
- 6:00 am GMT – (CHF) Trade Balance
- Tentative – (JPY) BOJ Press Conference
- 7:30 am GMT – (CHF) SNB Monetary Policy Assessment
- 7:30 am GMT – (CHF) SNB Policy Rate
- 8:00 am GMT – (EUR) Current Account
- 8:30 am GMT – (GBP) Retail Sales m/m
- Tentative – (EUR) Spanish 10-y Bond Auction
- 11:00 am GMT – (GBP) MPC Official Bank Rate Votes
- 11:00 am GMT – (GBP) Monetary Policy Summary
- 11:00 am GMT – (GBP) Official Bank Rate
- 11:00 am GMT – (GBP) Asset Purchase Facility
- 11:00 am GMT – (GBP) MPC Asset Purchase Facility Votes
- 12:30 pm GMT – (CAD) ADP Non-Farm Employment Change
- 12:30 pm GMT – (USD) Philly Fed Manufacturing Index
- 12:30 pm GMT – (USD) Current Account
- 12:30 pm GMT – (USD) Unemployment Claims
- 2:00 pm GMT – (USD) CB Leading Index m/m
- 2:00 pm GMT – (USD) Existing Home Sales
- 2:30 pm GMT – (USD) Natural Gas Storage
- 11:30 pm GMT – (JPY) National Core CPI y/y
Friday, September 20, 2019
- 3:00 am GMT – (NZD) Credit Card Spending y/y
- 6:00 am GMT – (EUR) German PPI m/m
- 11:00 am GMT – (GBP) BOE Quarterly Bulletin
- 12:30 pm GMT – (CAD) Core Retail Sales m/m
- 12:30 pm GMT – (CAD) Retail Sales m/m
- 2:00 pm GMT – (EUR) Consumer Confidence
Sunday, September 22, 2019
- 11:00 pm GMT – (AUD) Flash Manufacturing PMI
- &more
