Global Markets:
- Asian Stock Markets : Nikkei down 0.73%, Shanghai Composite down 0.18%, Hang Seng down 0.44% ASX up 0.73%
- Commodities : Gold at $2104.45 (0.73%), Silver at $25.89 (-0.06%), Brent Oil at $78.61 (-0.56%), WTI Oil at $73.69 (-0.63%)
- Rates : US 10-year yield at 4.235, UK 10-year yield at 4.188, Germany 10-year yield at 2.357
News & Data:
- (CAD) Employment Change 24.9K vs 14.2K expected
- (CAD) Unemployment Rate 5.8% vs 5.8% expected
Markets Update:
Asia-Pacific markets displayed mixed performances on Monday as investors awaited crucial economic data and upcoming inflation reports. Tokyo’s impending inflation figures, considered a bellwether for national trends, and South Korea’s inflation data due on Tuesday remained in focus.
The Reserve Bank of Australia’s final meeting for the year is anticipated to maintain rates at 4.35%, according to Reuters’ surveyed economists. The Australian S&P/ASX 200 surged 0.73%, leading gains among major benchmarks in the region.
South Korea’s Kospi rose by 0.64%, while the smaller-cap Kosdaq trimmed earlier gains to a 0.17% rise. Japan saw declines with the Nikkei 225 slipping 0.73% and the Topix falling 0.65%.
In the U.S., the S&P 500 and Dow Jones Industrial Average hit new 2023 highs, rising by 0.59% and 0.82%, respectively. The tech-heavy Nasdaq Composite advanced by 0.55%.
These market movements occurred despite Federal Reserve Chair Jerome Powell’s cautionary stance against anticipated interest rate cuts, emphasizing it was premature to confidently assess the adequacy of current monetary policy.
Upcoming Events:
- 2:00 PM GMT – EUR ECB President Lagarde Speaks
- 3:00 PM GMT – USD Factory Orders m/m
