Wednesday 13th September: European Open Briefing

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Global Markets:

  • Asian stock markets: Nikkei rose 0.49 %, Shanghai Composite fell 0.09 %, Hang Seng down 0.30 %, ASX 200 climbed 0.05 %
  • Commodities: Gold at $1335.52 (+0.20 %), Silver at $17.93 (+0.21 %), WTI Oil at $48.20 (-0.06 %), Brent Oil at $54.13 (-0.28%)
  • Rates: US 10-year yield at 2.15, UK 10-year yield at 1.13, German 10-year yield at 0.39

News & Data:

  • (AUD) Westpac Consumer Sentiment 2.5 % vs -1.2 % previous
  • (EUR) French Non-Farm Payrolls Q2 0.4 % vs 0.5 % expected
  • (GBP) CPI y/y 2.9 % vs 2.8 % expected
  • (GBP) PPI Input m/m 1.6 % vs 1.2 % expected
  • (GBP) RPI y/y 3.9 % vs 3.7 % expected
  •  (USD) JOLTS Job Openings 6.17 M vs 5.96 M expected
  • (JPY) BSI Large Manufacturing Conditions (Q3) 9.4 vs 4.8 expected
  • (JPY) PPI y/y 2.9 % vs 3.0 % expected
  • Wall Street ends at record high, led by banks; Apple weighs- RTRS

Markets Update:

Asian equity markets were mixed early on Wednesday, as broad gains in financials lifted stocks in Australia and Japan, though China’s markets underperformed. Global risk appetite returned this week, with all three major U.S. stock indexes hitting fresh highs overnight as geopolitical tensions eased. The Wall Street closed at record levels following comments about tax reform and fading investor fears.

USD/JPY is currently seen trading at 110.09 down from the highs of over 110.20 early in Tokyo session as the dollar inched 0.1 percent lower against the yen, but remained well above last Friday's 10-month low of 107.32. The Yen had lost 0.7 percent against the US Dollar on Tuesday.

The Australian Dollar was little changed and was last seen trading at 0.8026 against the US Dollar. The Aussie only managed to add a few pips in spite of slightly positive consumer sentiment data by Westpac +2.5 % against the -1.2 % previous. On the other hand, the New Zealand Dollar fell early in the session, dropping to lows around 0.7260 against the US dollar, currently the Kiwi has recovered most of it’s losses and is seen trading above 0.7290.

EUR/USD is currently seen trading at 1.1981 after the EUR gained 0.1 percent against the US Dollar, which is currently expressing weakness.  The dollar index, which tracks the dollar against a basket of 6 currencies was down 0.1 percent at 91.79, nonetheless holding well above Friday's 2-1/2-year low of 91.011.

Upcoming Events:

  • 07:15 GMT – (CHF) PPI m/m
  • 08:30 GMT – (GBP) Average Earnings Index 3m/y
  • 08:30 GMT – (GBP) Claimant Count Change
  • 08:30 GMT – (GBP) Unemployment Rate
  • 12:30 GMT – (USD) PPI m/m
  • 12:30 GMT – (USD) Core PPI m/m
  • 12:30 GMT – (USD) Crude Oil Inventories
  • 14:00 GMT – (AUD) RBA Assist Gov Debelle Speaks

 

 

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