Global Markets:
- Asian Stock Markets : Nikkei down 1.34%, Shanghai Composite down 0.11%, Hang Seng down 0.24%, ASX down 0.40%
- Commodities : Gold at $1839.65 (-0.10%), Silver at $21.62 (-0.28%), Brent Oil at $80.86 (+0.32%), WTI Oil at $74.19 (+0.32%)
- Rates : US 10-year yield at 3.924, UK 10-year yield at 3.627, Germany 10-year yield at 2.519
News & Data:
- (EUR) German ifo Business Climate 91.1 vs 91.1 expected
- (NZD) Official Cash Rate 4.75% vs 4.75% expected
- (AUD) Wage Price Index q/q 0.80% vs 1.00% expected
Markets Update:
Asian stock markets are trading mostly higher on Thursday, following the mixed cues from Wall Street overnight, as market participants digested the minutes of the US Federal Reserve’s most recent monetary policy meeting. The minutes revealed a “few participants” favored raising rates by 50 basis points versus the 25 basis point rate hike that was ultimately announced.
The Japanese stock market is closed on account of The Emperor’s Birthday. Japanese stocks closed sharply lower on Wednesday. In mainland China, the Shenzhen Component was fractionally lower, while the Shanghai Composite was up marginally. The Australian stock market is modestly lower on Thursday, extending the losses in the previous two sessions, with the benchmark S&P/ASX 200 falling below the 7,300 level, following the mixed cues from Wall Street overnight, with weakness in mining and energy stocks amid tumbling commodity prices.
Oil nursed sharp Wednesday losses, and Brent crude futures clung to support around $80 a barrel on Thursday.
Upcoming Events:
- 01:30 PM GMT – (USD) Prelim GDP q/q
- 01:30 PM GMT – (USD) Unemployment Claims
- Day 2 – (All) G20 Meetings
