Global Markets:
- Asian Stock Markets : Hang Seng up 0.23%, ASX down 0.04%
- Commodities : Gold at $1273.15 (+0.09%), Silver at $14.64 (+0.18%), Brent Oil at $70.50 (-0.35%), WTI Oil at $61.73 (-0.13%)
- Rates : US 10-year yield at 2.545, UK 10-year yield at 1.186, Germany 10-year yield at 0.026
News & Data:
- (GBP) MPC Asset Purchase Facility Votes 0-0-9 vs 0-0-9 expected
- (GBP) Asset Purchase Facility 435B vs 435B expected
- (GBP) Official Bank Rate 0.75% vs 0.75% expected
- (GBP) MPC Official Bank Rate Votes 0-0-9 vs 0-0-9 expected
- ASEAN opens door to yuan and yen for currency safety net
- Japan’s Liquidity Woes Risk Limiting BOJ to Tinker on Sidelines
Markets Update:
Asian stock markets are mostly lower on Friday following the weak cues overnight from Wall Street amid continued disappointment after the Federal Reserve indicated it is not likely to cut interest rates in the near future. In addition, the fall in crude oil prices dragged down energy stocks.
Investors await U.S. employment figures due later in the day, which is forecast to show 185,000 net new jobs were added in April and the unemployment rate steady at 3.8 percent.
Chinese and Japanese markets are closed for the holidays. The Hang Seng index in Hong Kong was largely flat by the morning session’s end, as shares of Chinese tech juggernaut Tencent slipped more than 0.7%. However, it is currently trading up by 0.2%. In South Korea, the Kospi declined 0.5%, as shares of industry heavyweight Samsung Electronics slipped 1%. Australia’s ASX 200, on the other hand, was flat although most sectors edged up earlier in the day.
In the currency markets, Australian and New Zealand dollars fell in early trade as speculators wagered both countries could see interest cuts next week. Oil prices plunged after U.S. crude production output set a new record, though the losses were capped by the intensifying political crisis in Venezuela and the stopping of Iranian oil sanction waivers by Washington.
Upcoming Events:
- 09:30 AM GMT – (GBP) Services PMI
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:30 PM GMT – (USD) Average Hourly Earnings m/m
- 01:30 PM GMT – (USD) Non-Farm Employment Change
- 01:30 PM GMT – (USD) Unemployment Rate
- 03:00 PM GMT – (USD) ISM Non-Manufacturing PMI
- 03:15 PM GMT – (USD) FOMC Member Evans Speaks
- 04:30 PM GMT – (USD) FOMC Member Clarida Speaks
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