Global Markets:
- Asian Stock Markets : Nikkei down 0.38%, Shanghai Composite down 0.21%, Hang Seng up 0.45%, ASX up 0.27%
- Commodities : Gold at $1310.40 (-0.25%), Silver at $16.46 (-0.04%), Brent Oil at $76.63 (+2.38%), WTI Oil at $70.56 (+2.17%)
- Rates : US 10-year yield at 2.989, UK 10-year yield at 1.440, Germany 10-year yield at 0.556
News & Data:
- (AUD) Retail Sales m/m 0.00% vs 0.20% expected
- (NZD) Inflation Expectations q/q 2.00% vs 2.10% previous
- (CNY) Trade Balance 183B vs 187B expected
- (GBP) Halifax HPI m/m -3.10% vs -0.30% expected
- Pompeo, in North Korea, to return with detained Americans: South Korean official
- Cryptojacking malware was secretly mining Monero on many government and university websites
- Mnuchin Reveals Trump's Iran Deal Gamble: "The Objective Is To Enter Into A New Agreement"
Markets Update:
Asian markets traded slightly lower today, as oil soared – a fallout from the US’s pulling out of the Iran nuclear deal. That said, the fallout was lesser than expected, as markets had mostly priced in the outcome over the past week. Crude oil prices rose more than 2 percent in Asian trades after falling overnight.
Asian shares ticked down as renewed U.S. sanctions on Tehran were seen as disruptive for many companies that have deals with Iran. Trump’s move is also seen as risking worsening already-tense relations between Iran and U.S. allies in the region.
The Australian market is rising despite the flat cues from Wall Street and a fall in shares of Commonwealth Bank. Mining and energy stocks are advancing. The Japanese market is declining, tracking the flat cues from Wall Street. Exporters are mostly lower despite a weaker yen.
Souring risk sentiment is hitting emerging markets, which have been clobbered in recent weeks by concerns about capital outflows, as the prospect of higher U.S. interest rates lures investors back to U.S. bonds rather than riskier assets. Greenback strength continues to add to the woes of EM assets.
Upcoming Events:
- 12:30 PM GMT – (CAD) Building Permits m/m
- 12:30 PM GMT – (USD) PPI m/m
- 12:30 PM GMT – (USD) Core PPI m/m
- 02:30 PM GMT – (USD) Crude Oil Inventories
- 09:00 PM GMT – (NZD) Official Cash Rate
- 09:00 PM GMT – (NZD) RBNZ Monetary Policy Statement
- 09:00 PM GMT – (NZD) RBNZ Rate Statement
- 10:00 PM GMT – (NZD) RBNZ Press Conference
- &more…
