Global Markets:
- Asian Stock Markets : Nikkei up 0.01%, Shanghai Composite up 0.05%, Hang Seng up 0.08%, ASX up 1.18%
- Commodities : Gold at $1884.45 (+0.30%), Silver at $23.70 (+0.92%), Brent Oil at $82.63 (-0.05%), WTI Oil at $77.34 (-0.09%)
- Rates : US 10-year yield at 3.539, UK 10-year yield at 3.437, Germany 10-year yield at 2.174
News & Data:
- (JPY) Economy Watchers Sentiment 47.9 vs 47.8 expected
- (CNY) PPI y/y -0.70% vs -0.10% expected
- (CNY) CPI y/y 1.80% vs 1.80% expected
- (AUD) Trade Balance 13.20B vs 11.35B expected
- (JPY) Current Account 1.92T vs 0.65T expected
- (JPY) Bank Lending y/y 2.70% vs 2.80% expected
- (NZD) Building Consents m/m 7.00% vs -10.70% previous
- (USD) 10-y Bond Auction 3.58|2.5 vs 3.63|2.3 previous
- (USD) Crude Oil Inventories 19.0M vs -2.0M expected
- (EUR) German 10-y Bond Auction 2.25|1.4 vs 1.95|2.0 previous
- (EUR) Italian Retail Sales m/m 0.80% vs -0.30% expected
- (JPY) Leading Indicators 97.60% vs 97.50% expected
- (JPY) 30-y Bond Auction 1.65|3.1 vs 1.48|3.0 previous
- (AUD) Retail Sales m/m 1.40% vs 0.60% expected
- (AUD) CPI y/y 7.30% vs 7.20% expected
- (NZD) ANZ Commodity Prices m/m -0.10% vs -4.00% previous
Markets Update:
Asian stock markets are trading mostly higher on Thursday, following the broadly positive cues from global markets overnight, as the markets reflected optimism about the highly anticipated US consumer price inflation report due later today. The report is expected to show a slowdown in the annual rate of consumer price growth and could have a significant impact on the outlook for interest rates. Asian Markets closed mixed on Wednesday. Traders also looked to continue picking up stocks at relatively reduced levels following the considerable weakness seen last year.
China’s consumer price inflation accelerated at the end of the year 2022, owing to higher food prices, while factory gate prices continued to fall, albeit at a slower pace.
The Japanese stock market is slightly higher in choppy trading on Thursday, alternating around the unchanged line, extending the gains in the previous four sessions, with the Nikkei 225 staying above the 26,400 level, following the broadly positive cues from global markets overnight, with strong gains in financial and technology stocks.
Australia posted a seasonally adjusted merchandise trade surplus of A$13.201 billion in November, the Australian Bureau of Statistics said on Thursday. That beat expectations for a surplus of A$10.5 billion following the A$12.217 billion surplus in October.
Crude oil prices rose sharply Wednesday on hopes for a global economic recovery and the possible impact of sanctions on Russian crude output. West Texas Intermediate crude oil futures for February jumped $2.29 or 3.1 percent at $77.41 a barrel, rising for a fifth straight session.
The U.S. dollar is trading in the mid-131 yen-range on Thursday.
Upcoming Events:
- 12:30 am GMT – (AUD) Trade Balance
- 01:30 am GMT – (CNY) CPI y/y
- 01:30 am GMT – (CNY) PPI y/y
- 05:00 am GMT – (JPY) Economy Watchers Sentiment
- 09:00 am GMT – (EUR) ECB Economic Bulletin
- Tentative – (GBP) Housing Equity Withdrawal q/q
- 12:30 pm GMT – (USD) FOMC Member Harker Speaks
- 01:30 pm GMT – (USD) CPI m/m
- 01:30 pm GMT – (USD) CPI y/y
- 01:30 pm GMT – (USD) Core CPI m/m
- 01:30 pm GMT – (USD) Unemployment Claims
- 03:30 pm GMT – (USD) Natural Gas Storage
- 05:00 pm GMT – (GBP) MPC Member Mann Speaks
- 06:01 pm GMT – (USD) 30-y Bond Auction
- 07:00 pm GMT – (USD) Federal Budget Balance
- 11:50 pm GMT – (JPY) M2 Money Stock y/y
