Global Markets:
- Asian Stock Markets : Nikkei down 0.54%, Shanghai Composite up 1.57%, Hang Seng up 0.14%, ASX up 0.75%
- Commodities : Gold at $1291.45 (+0.53%), Silver at $15.16 (+0.38%), Brent Oil at $65.52 (-0.52%), WTI Oil at $56.17 (-0.69%)
- Rates : US 10-year yield at 2.708, UK 10-year yield at 1.289, Germany 10-year yield at 0.150
News & Data:
- (AUD) Current Account -7.2B vs -9.3B expected
- (AUD) Cash Rate 1.50% vs 1.50% expected
- (GBP) Services PMI 51.3 vs 50 expected
- (USD) ISM Non-Manufacturing PMI 59.7 vs 57.4 expected
- (AUD) GDP q/q 0.20% vs 0.50% expected
- North Korea rebuilds part of missile site as Bolton warns of more sanctions
- BOJ’s Harada: Risks to Japan’s economy heightening but don’t see economy sliding into recession now
Markets Update:
Asian stock markets are mostly higher on Wednesday despite the modest losses overnight on Wall Street. Gains are modest as investors awaited firm details about progress in U.S.-China trade talks and also focused on the Brexit negotiations.
Mainland Chinese shares gained by the morning session’s end, with the Shanghai composite rising 1.6 percent and the Shenzhen component advancing 1.3 percent. Hong Kong’s Hang Seng index also added 0.21 percent, as shares of Chinese tech juggernaut Tencent jumped 1.72 percent. Japan’s Nikkei 225 declined 0.5 percent and the Topix slipped 0.3 percent. Shares of Fast Retailing, the company behind the Uniqlo chain of apparel stores, fell more than 3 percent. Meanwhile, Australia’s ASX 200 rose 0.7 percent, despite data on Wednesday showing the country’s economy slowed sharply in the second half of last year.
The dollar held gains after rising against its peers on Tuesday’s upbeat ISM non-manufacturing sector report. The euro was little changed at $1.1298 following a decline of 0.3 percent the previous day, when it plumbed a two-week trough of $1.1289.
U.S. crude oil futures were down 1 percent at $56.01 per barrel after data from the American Petroleum Institute (API), an industry group, showed a larger-than-expected increase in U.S. crude stockpiles.
Upcoming Events:
- 01:15 PM GMT – (GBP) MPC Member Cunliffe Speaks
- 02:15 PM GMT – (USD) ADP Non-Farm Employment Change
- 02:30 PM GMT – (CAD) Trade Balance
- 04:00 PM GMT – (CAD) BOC Rate Statement
- 04:00 PM GMT – (CAD) Overnight Rate
- 04:00 PM GMT – (CAD) Ivey PMI
- 06:00 PM GMT – (USD) FOMC Member Williams Speaks
- 06:30 PM GMT – (GBP) MPC Member Saunders Speaks
- &more…
