Global Markets:
- Asian Stock Markets : Nikkei up 1.22%, Shanghai Composite down 0.38%, Hang Seng down 0.27%, ASX up 0.32%
- Commodities : Gold at $1676.75 (-0.22%), Silver at $20.81 (-0.53%), Brent Oil at $97.98 (+0.02%), WTI Oil at $91.88 (+0.10%)
- Rates : US 10-year yield at 4.220, UK 10-year yield at 3.670, Germany 10-year yield at 2.339
News & Data:
Stocks in the Asia-Pacific traded mostly higher early Tuesday morning as investors digest the Bank of Japan’s summary of opinions and look ahead to the U.S. midterm elections.The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.
The China stock market has moved higher in back-to-back sessions, gathering more than 80 points or 2.7 percent along the way.
The Bank of Japan released a summary of opinions of board members from its monetary policy meeting in October, when it left interest rates unchanged while global peers took on jumbo rate hikes.
The Australian stock market modestly higher on Tuesday, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 moving to nearly the 7,000 mark, following the broadly positive cues from Wall Street overnight, led by gains in technology, gold miners and financial stocks, even as traders remain cautious amid concerns about the outlook for interest rate hikes.
Crude oil prices saw considerable volatility on Monday amid uncertainty about the outlook for Chinese energy demand due to conflicting reports about the country’s COVID-19 policies.
Gold prices gained more than one percent in the day’s trade, amidst a softening in the Dollar’s strength as markets reconcile to the Fed’s actions and commentary in the recent review
Markets Update:
- (GBP) BRC Retail Sales Monitor y/y 1.20% vs 1.50% expected
- (JPY) Household Spending y/y 2.30% vs 2.60% expected
- (JPY) Average Cash Earnings y/y 2.10% vs 1.70% expected
- (AUD) Westpac Consumer Sentiment -6.90% vs -0.90% previous
- (AUD) AIG Services Index 47.7 vs 48 previous
- (USD) Consumer Credit m/m 25.0B vs 31.5B expected
- (EUR) Sentix Investor Confidence -30.9 vs -35.2 expected
- (CHF) Foreign Currency Reserves 817B vs 806B previous
- (GBP) Halifax HPI m/m -0.40% vs -0.40% expected
- (EUR) German Industrial Production m/m 0.60% vs 0.20% expected
- (CHF) Unemployment Rate 2.10% vs 2.10% expected
- (CNY) Trade Balance 587B vs 702B expected
- (CNY) USD-Denominated Trade Balance 85.2B vs 96.0B expected
Upcoming Events:
- 02:00 am GMT – (NZD) Inflation Expectations q/q
- 08:15 am GMT – (CHF) SNB Chairman Jordan Speaks
- 08:30 am GMT – (CHF) Gov Board Member Maechler Speaks
- 09:30 am GMT – (AUD) RBA Gov Lowe Speaks
- All Day – (USD) Congressional Elections
