Global Markets:
- Asian Stock Markets : Nikkei up 0.81%, Shanghai Composite down 0.31%, Hang Seng up 1.45%, ASX down 0.78%
- Commodities : Gold at $1231.10 (+0.16%), Silver at $14.46 (+0.61%), Brent Oil at $60.03 (+1.68%), WTI Oil at $51.08 (+1.31%)
- Rates : US 10-year yield at 3.050, UK 10-year yield at 1.384, Germany 10-year yield at 0.343
News & Data:
- (NZD) Core Retail Sales q/q 0.40% vs 1.50% expected
- (NZD) Retail Sales q/q 0.00% vs 1.00% expected
- (CAD) Trimmed CPI y/y 2.10% vs 2.10% expected
- (CAD) Retail Sales m/m 0.20% vs 0.10% expected
- (CAD) Median CPI y/y 2.00% vs 2.00% expected
- (CAD) Common CPI y/y 1.90% vs 1.90% expected
- (CAD) Core Retail Sales m/m 0.10% vs 0.30% expected
- (CAD) CPI m/m 0.30% vs 0.10% expected
- (EUR) Flash Services PMI 53.1 vs 53.6 expected
- (EUR) Flash Manufacturing PMI 51.5 vs 52 expected
- (EUR) German Flash Services PMI 53.3 vs 54.6 expected
- (EUR) German Flash Manufacturing PMI 51.6 vs 52.3 expected
- (EUR) French Flash Services PMI 55 vs 54.9 expected
- (EUR) French Flash Manufacturing PMI 50.7 vs 51.3 expected
- China's central bank skips open market operations for 22 days
- Brexit withdrawal agreement approved by EU leaders
Markets Update:
Asian stocks and U.S. equity futures posted mixed numbers on Monday on hopes of solid U.S. holiday sales, though plunging oil prices fanned worries about a dimming outlook for the global economy. Investors were also cautious before U.S. and Chinese leaders meet for crucial talks at the end of the week as trade tensions between the economic superpowers showed no signs of easing.
Chinese markets are trading lower, after ending the morning session in green. The Shanghai composite was down about 0.3 percent while the Shenzhen composite fell 0.4 percent. Hong Kong's Hang Seng index saw gains of 1.5 percent. The Australian market is declining following the negative cues from Wall Street as well as on weak commodity prices.
Mining and energy stocks are among the major losers. The benchmark ASX 200 fell 0.8 percent in afternoon trade, with the energy subindex down 2.7 percent and the materials sector off by 2.4 percent. Japan's Nikkei 225 rose 0.8 percent in afternoon trade while the Topix index saw gains of 0.2 percent. South Korea's Kospi advanced 1.2 percent.
Oil prices were fragile, keeping near their lowest levels since October last year, having dived 8 percent on Friday for the biggest weekly losses in almost three years as rising U.S. production intensified fears of a supply glut. The dollar’s index against a basket of six major currencies stood almost flat at 96.969, not far from this year’s top of 97.704 marked two weeks ago. The yen edged down about 0.2 percent at 113.23 to the dollar on a rise in stocks.
Upcoming Events:
Monday, November 26, 2018
- 04:00 AM GMT – (AUD) RBA Assist Gov Kent Speaks
- 10:00 AM GMT – (EUR) German Ifo Business Climate
- 03:00 PM GMT – (EUR) ECB President Draghi Speaks
- 07:30 PM GMT – (GBP) BOE Gov Carney Speaks
- 10:45 PM GMT – (NZD) Trade Balance
Tuesday, November 27, 2018
- Tentative – (All) OPEC-JMMC Meetings
- 02:30 PM GMT – (USD) FOMC Member Clarida Speaks
- 04:00 PM GMT – (USD) CB Consumer Confidence
- 08:30 PM GMT – (USD) FOMC Member Bostic Speaks
- 09:00 PM GMT – (NZD) RBNZ Financial Stability Report
- 11:00 PM GMT – (NZD) RBNZ Gov Orr Speaks
Wednesday, November 28, 2018
- 01:00 AM GMT – (NZD) RBNZ Gov Orr Speaks
- 01:30 AM GMT – (AUD) Construction Work Done q/q
- Tentative – (GBP) Bank Stress Test Results
- Tentative – (GBP) BOE Financial Stability Report
- 02:30 PM GMT – (USD) Prelim GDP q/q
- 04:30 PM GMT – (USD) Crude Oil Inventories
- 06:00 PM GMT – (USD) Fed Chair Powell Speaks
Thursday, November 29, 2018
- 01:00 AM GMT – (NZD) ANZ Business Confidence
- 01:30 AM GMT – (AUD) Private Capital Expenditure q/q
- All Day GMT – (EUR) German Prelim CPI m/m
- 09:00 AM GMT – (EUR) ECB President Draghi Speaks
- 10:30 AM GMT – (GBP) Net Lending to Individuals m/m
- 02:30 PM GMT – (CAD) Current Account
- 02:30 PM GMT – (USD) Core PCE Price Index m/m
- 12:00 AM GMT – (USD) Personal Spending m/m
- 08:00 PM GMT – (USD) FOMC Meeting Minutes
Friday, November 30, 2018
- 02:00 AM GMT – (CNY) Manufacturing PMI
- 02:00 AM GMT – (CNY) Non-Manufacturing PMI
- 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
