Global Markets:
- Asian Stock Markets : Nikkei down 0.61%, Shanghai Composite up 0.20%, Hang Seng up 0.43%, ASX down 0.54%
- Commodities : Gold at $1928.75 (-0.19%), Silver at $23.26 (-0.12%), Brent Oil at $77.94 (-0.67%), WTI Oil at $73.35 (-0.69%)
- Rates : US 10-year yield at 4.074, UK 10-year yield at 4.697, Germany 10-year yield at 2.6465
News & Data:
- (CAD) Employment Change 59.9K vs 19.8K expected
- (CAD) Unemployment Rate 5.4% vs 5.3% expected
- (USD) Average Hourly Earnings m/m 0.4% vs 0.3% expected
- (USD) Non-Farm Employment Change 209K vs 224K expected
- (USD) Unemployment Rate 3.6% vs 3.6% expected
Markets Update:
Asia-Pacific markets exhibited a mixed performance as investors awaited crucial inflation reports, including the U.S. consumer price index and producer price index. China’s consumer price index remained unchanged in June year-on-year, reaching its lowest level since February 2021. However, producer prices experienced a significant decline of 5.4% year-on-year, the sharpest drop since December 2015. U.S. Treasury Secretary Janet Yellen concluded her visit to Beijing, expressing optimism about the talks and their potential to strengthen bilateral ties.
In Japan, the Nikkei 225 extended its losing streak to five days, closing 0.61% lower, while the Topix index also experienced a 0.61% loss. South Korea’s Kospi closed down 0.24%, marking its fifth consecutive day of losses, and the Kosdaq recorded a loss of 0.8%. Australia’s S&P/ASX 200 declined by 0.54%, reaching its lowest level since March 27. However, Hong Kong’s Hang Seng index rebounded, climbing 0.43%, accompanied by positive performance in mainland Chinese markets.
Furthermore, U.S. markets closed lower on Friday amidst concerns about potential interest rate hikes by the U.S. Federal Reserve. The Labor Department’s June jobs report indicated that nonfarm payrolls increased by 209,000, falling below expectations and indicating a cooling trend from May. The Dow Jones Industrial Average saw the largest loss of 0.55%, followed by the S&P 500 with a decline of 0.29%, and the Nasdaq Composite with a decrease of 0.13%.
Upcoming Events:
- 3:00 PM GMT – GBP BOE Gov Bailey Speaks
- 4:00 PM GMT – EUR German Buba President Nagel Speaks
- 7:00 PM GMT – USD Consumer Credit m/m
- 11:01 PM GMT – GBP BRC Retail Sales Monitor y/y
- 11:50 PM GMT – JPY M2 Money Stock y/y
