Global Markets:
- Asian Stock Markets : Nikkei down 0.08%, Shanghai Composite down 0.17%, Hang Seng down 1.22% ASX up 0.34%
- Commodities : Gold at $2377.5 (0.37%), Silver at $30.48 (-0.34%), Brent Oil at $85.13 (-0.09%), WTI Oil at $81.61 (-0.01%)
- Rates : US 10-year yield at 4.26, UK 10-year yield at 4.08, Germany 10-year yield at 2.421
News & Data:
- (GBP) Official Bank Rate 5.25% vs 5.25% expected
- (USD) Unemployment Claims 238K vs 235K expected
Markets Update:
Asia-Pacific markets declined on Friday after Japan’s May core inflation data came in at 2.5%, slightly below the expected 2.6%. The “core-core” inflation rate, excluding fresh food and energy, was 2.1%, down from April’s 2.4%. The overall inflation rate increased to 2.8% from 2.5% in April. The Nikkei 225 was stable, and the Topix rose 0.15%. Softbank shares dropped 2.87% after CEO Masayoshi Son mentioned needing “immense capital” for AI robotics development. The yen weakened for the seventh day, reaching 158.95 against the U.S. dollar, with Japan’s government ready to intervene in the volatile currency market.
India’s Nifty 50 index rose 0.1%, setting a new record high, and the HSBC flash Composite Purchasing Managers’ Index for India increased to 60.9 in June from 60.5 in May. South Korea’s Kospi fell 0.94%, and the Kosdaq dropped 0.54%. South Korea and Japan’s finance ministers will meet on June 25 to discuss cooperation and global economic views. Mainland China’s CSI 300 index decreased by 0.60%, and Hong Kong’s Hang Seng index fell 1.21%. Australia’s S&P/ASX 200 index edged up by 0.34%.
In the U.S., the S&P 500 closed 0.25% lower after reaching a new high, the Nasdaq Composite declined 0.79%, and the Dow Jones Industrial Average increased 0.77%. Nvidia’s stock slipped 3.5% after an earlier rise in the trading day.
Upcoming Events:
- 12:30 PM GMT – CAD Core Retail Sales m/m
- 12:30 PM GMT – CAD Retail Sales m/m
- 1:45 PM GMT – USD Flash Manufacturing PMI
- 1:45 PM GMT – USD Flash Services PMI
- 2:00 PM GMT – USD Existing Home Sales
