Global Markets:
- Asian Stock Markets : Nikkei up 0.19%, ASX up 0.53%
- Commodities : Gold at $1312.10 (-0.54%), Silver at $16.21 (-0.66%), WTI Oil at $74.84 (+0.20%), Brent Oil at $68.72 (+0.22%)
- Rates : US 10-year yield at 2.961, UK 10-year yield at 1.413, Germany 10-year yield at 0.561
News & Data:
- (AUD) Cash Rate 1.50% vs 1.50% expected
- (USD) Chicago PMI 57.6 vs 58.2 expected
- (USD) Personal Spending m/m 0.40% vs 0.40% expected
- (USD) Core PCE Price Index m/m 0.20% vs 0.20% expected
- (CAD) RMPI m/m 2.10% vs 0.60% expected
- (EUR) M3 Money Supply y/y 3.70% vs 4.10% expected
- (CHF) KOF Economic Barometer 105.3 vs 105.9 expected
- (EUR) German Prelim CPI m/m 0.00% vs -0.10% expected
- (EUR) German Retail Sales m/m -0.60% vs 0.80% expected
- Sydney and Melbourne property to be most affected by banking royal commission: CoreLogic
- U.S. wants 4-year phase-in for higher NAFTA auto content thresholds
Markets Update:
Asian stock markets are modestly higher in thin holiday-trade on Tuesday as many of the markets in the region are closed for the Labor Day holiday. Investor sentiment was bolstered by news that the U.S. has extended the May 1 deadline on steel and aluminium tariff exemptions for its allies by one month.
Nikkei resumes trade today after Monday’s holiday. Quarterly earnings continues to move markets, as companies continue to log outsized moves backed by strong earnings. ASX’s major banks extending gains with ANZ-AU ’s H1 results coming in better-than-expected.
Aussie dollar little changed after RBA kept policy unchanged as widely expected. Few changes in policy statement as RBA sticks with expectations for a pickup in growth and inflation.
Crude oil prices rose on Monday after Israeli Prime Minister Benjamin Netanyahu said his country had proof that Iran ran a secret program to build nuclear weapons even after signing a deal in 2015 with global powers.
Upcoming Events:
- 04:30 AM GMT – (AUD) RBA Rate Statement
- 04:30 AM GMT – (AUD) Cash Rate
- 08:30 AM GMT – (GBP) Manufacturing PMI
- 08:30 AM GMT – (GBP) Net Lending to Individuals m/m
- 12:30 PM GMT – (CAD) GDP m/m
- 02:00 PM GMT – (USD) ISM Manufacturing PMI
- Tentative – (NZD) GDT Price Index
- 06:30 PM GMT – (CAD) BOC Gov Poloz Speaks
- 10:45 PM GMT – (NZD) Employment Change q/q
- 10:45 PM GMT – (NZD) Unemployment Rate
