Global Markets:
- Asian Stock Markets : Nikkei up 0.03%, Shanghai Composite down 0.28%, Hang Seng down 0.44%, ASX down 0.24%
- Commodities: Gold at $1534.45 (+0.33%), Silver at $18.55 (+1.12%), Brent Oil at $58.63 (-0.05%), WTI Oil at $54.84 (-0.47%)
- Rates : US 10-year yield at 1.518, UK 10-year yield at 0.422, Germany 10-year yield at -0.698
News & Data:
- (GBP) Manufacturing PMI 47.4 vs 48 expected
- (EUR) Final Manufacturing PMI 47 vs 47 expected
- (EUR) German Final Manufacturing PMI 43.5 vs 43.6 expected
- (EUR) French Final Manufacturing PMI 51.1 vs 51 expected
- (EUR) Italian Manufacturing PMI 48.7 vs 48.6 expected
- (CHF) Manufacturing PMI 47.2 vs 45.6 expected
- (EUR) Spanish Manufacturing PMI 48.8 vs 48.6 expected
- (CHF) Retail Sales y/y 1.40% vs 0.90% expected
- (AUD) Commodity Prices y/y 6.20% vs 15.00% previous
- (CNY) Caixin Manufacturing PMI 50.4 vs 49.8 expected
- (AUD) ANZ Job Advertisements m/m -2.80% vs 0.80% previous
- (AUD) Company Operating Profits q/q 4.50% vs 2.10% expected
- (AUD) MI Inflation Gauge m/m 0.00% vs 0.30% previous
- (JPY) Final Manufacturing PMI 49.3 vs 49.5 expected
- (GBP) BRC Retail Sales Monitor y/y -0.50% vs 0.10% previous
- (JPY) Monetary Base y/y 2.80% vs 2.90% expected
- (AUD) Retail Sales m/m -0.10% vs 0.20% expected
- (AUD) Current Account 5.9B vs 1.5B expected
- (JPY) 10-y Bond Auction -0.27|3.6 vs -0.15|3.8 previous
- (AUD) Cash Rate 1.00% vs 1.00% expected
- British Prime Minister Boris Johnson says Brexit deal chances are rising
Markets Update:
Asian stocks were mixed in thin trading Tuesday as investors awaited to see if Chinese and American officials can schedule a planned meeting this month to continue trade talks. The latest round of tariffs that the United States and China imposed on each other went into effect Sunday — a round that came as concerns about slowing global growth are building and fear of recession stalks several major economies. September is off to a rocky start as markets remain sensitive to the twists and turns on trade with the chances of a resolution between the world’s two-biggest economies appearing more out of reach.
Shares saw modest gains in Tokyo and fluctuated in Hong Kong, Sydney and Shanghai. China’s Shanghai Composite is down 0.28% after closing higher on Monday, lifted by defense and infrastructure stocks. Newly released economic figures were also unexpectedly positive. Among other major indexes, Hong Kong’s Hang Seng Index lost 0.44%, while Japan’s Nikkei also fell fractionally by 0.03%. Down under, Australian shares are trading at a loss of 0.24%.
U.S. bond yields rose a tad on profit-taking after a market holiday in the United States on Monday. The 10-year U.S. Treasuries yield rose 2.5 basis points to 1.518%, off a three-year low of 1.443% touched last week. The yield dropped 51.5 basis points last month, the biggest monthly drop since August 2011. In the currency market, The U.S. dollar continued to climb Tuesday morning in Asia, rising to highs not seen since April 2017.
The US Dollar Index that tracks the greenback against a basket of currencies was up 0.33% to 99.25. Oil prices were mixed on Tuesday morning in Asia, with oil held in check by ongoing concerns over the U.S.-China trade war and soft South Korean economic throwing a curveball into an already complicated market. Crude oil slipped below $55 a barrel amid concerns a hurricane battering the U.S. East Coast and an economic slowdown from the trade war may dent demand. U.S. West Texas Intermediate crude lost 0.47% to $54.84 per barrel.
International benchmark Brent futures fell marginally to $58.63 per barrel. Gold continued to trade in the green on the second day this week, after new tariffs imposed by the U.S. and China kicked in the day before.
Upcoming Events:
- 9:00am GMT – (EUR) PPI m/m
- 1:30pm GMT – (CAD) Manufacturing PMI
- 1:45pm GMT – (USD) Final Manufacturing PMI
- 2:00pm GMT – (USD) ISM Manufacturing PMI
- 2:00pm GMT – (USD) Construction Spending m/m
- 2:00pm GMT – (USD) ISM Manufacturing Prices
- Tentative – (USD) IBD/TIPP Economic Optimism
- Tentative – (NZD) GDT Price Index
- 9:00pm GMT – (USD) FOMC Member Rosengren Speaks
- 10:30pm GMT – (AUD) AIG Services Index
- &more…
