Global Markets:
- Asian stock markets: Nikkei rose 0.53 %, Shanghai Composite up 1.22 %, Hang Seng climbed 0.81 %, ASX 200 down 0.01 %
- Commodities: Gold at $1292.33 (+0.03 %), Silver at $16.94 (+0.01 %), WTI Oil at $47.77 (+0.72 %), Brent Oil at $52.44 (+0.75 %)
- Rates: US 10-year yield at 2.18, UK 10-year yield at 1.05, German 10-year yield at 0.38
News & Data:
- GBP Second Estimate GDP q/q 0.3 % vs 0.3 % expected
- GBP Prelim Business Investment q/q 0.0 % vs 0.2 % expected
- USD Unemployment Claims 234 K vs 237 K expected
- USD Existing Home Sales 5.44 M vs 5.55 M expected
- USD Mortgage Delinquencies 4.24 % vs 4.71 % previous
- Asia stocks resilient, dollar up before Yellen, Draghi speeches
- Oil prices rise as Hurricane Harvey heads for U.S. Gulf coast- RTRS
Markets Update:
Asian stock markets gained slightly on Friday but continued to be more subdued than usual as global investors remain on the sidelines ahead of key comments at a central-banking conclave in Jackson Hole.
USDJPY is currently seen trading at 109.62 as the dollar bulls seem to have a slight edge this morning. USD continued to be slightly stronger on Friday, extending Thursday’s 0.5 percent gain, and heading for an overall weekly rise of 0.4 percent.
EURUSD was seen trading slightly lower at 1.1795. Overall we can see that the price took on more of a Sober approach ahead of the Jackson hole conclave. The dollar index (DXY), which tracks the greenback against a basket of six major peers, was seen trading slightly higher at 93.32 after gaining 0.2 percent, targeting its first monthly rise in six months.
AUDUSD slid to lows of 0.7885 early in the session before retracing back to approach 0.7900 and is barely net changed for the day. Continuing the trend from Thursday. Aussie continues to seesaw around the 0.79 handle.
Upcoming Events:
- 08:00 GMT – (EUR) German Ifo Business Climate
- 12:30 GMT – (USD) Core Durable Goods Orders m/m
- 12:30 GMT – (USD) Durable Goods Orders m/m
- 16:00 GMT – (USD) Fed Chair Yellen Speaks
- 19:00 GMT – (USD) ECB President Draghi Speaks
