Global Markets:
- Asian Stock Markets : Nikkei down 0.18%, Shanghai Composite up 0.10%, Hang Seng down 0.11%, ASX up 0.42%
- Commodities : Gold at $1252.65 (+0.26%), Silver at $14.69 (+0.57%), Brent Oil at $60.13 (+0.27%), WTI Oil at $51.12 (+0.24%)
- Rates : US 10-year yield at 2.859, UK 10-year yield at 1.214, Germany 10-year yield at 0.252
News & Data:
- (AUD) HPI q/q -1.50% vs -1.50% expected
- (GBP) Manufacturing Production m/m -0.90% vs 0.00% expected
- (GBP) GDP m/m 0.10% vs 0.10% expected
- Euro zone investor morale slumps to four-year low in December
- Japan readies $18bn in stimulus ahead of 2019 tax hike
Markets Update:
Asian stock markets are mixed on Tuesday after U.S. stocks managed a late-stage recovery in a volatile session overnight. Worries about global economic growth, U.S.-China trade tensions, and political turmoil in Britain after Prime Minister Theresa May delayed a key vote on Brexit weighed on investor sentiment.
The mainland Chinese markets saw gains by the end of the morning session. The Shanghai composite rose 0.1 percent while the Shenzhen composite advanced 0.4 percent. Hong Kong’s Hang Seng index, on the other hand, slipped 0.11 percent.
The Japanese market has erased early gains and is modestly lower with the Nikkei down 0.2%. The Australian market is modestly higher as investors went bargain hunting after recent steep losses – the ASX is up 0.42%.
In currencies, sterling slumped below important chart support around $1.26 on May’s delayed Brexit vote. With European Union refusing to renegotiate the deal lawmakers doubted her chances of winning big changes. The dollar climbed on the yen to 113.19. In commodities, oil prices echoed the weakness in global stock markets amid worries about a slowdown in demand, dropping 3 percent on Monday.
Upcoming Events:
- 10:30 AM GMT – (GBP) Average Earnings Index 3m/y
- 10:30 AM GMT – (GBP) Unemployment Rate
- 11:00 AM GMT – (EUR) German ZEW Economic Sentiment
- 02:30 PM GMT – (USD) PPI m/m
- 02:30 PM GMT – (USD) Core PPI m/m
- Tentative – (GBP) Parliament Brexit Vote
- &more…
