Global Markets:
- Asian Stock Markets : Nikkei up 1.5%, Shanghai Composite up 0.05%, Hang Seng down 0.1%, ASX up 0.4%,
- Commodities : Gold at $1838.6 (-0.37%), Silver at $20.75 (-1.02%), WTI Oil at $78.11 (+0.54%)
- Rates : US 10-year yield at 4.06, UK 10-year yield at 3.915, Germany 10-year yield at 2.745
News & Data:
- (EUR) CPI Flash Estimate y/y 8.50% vs 8.30% expected
- (EUR) Core CPI Flash Estimate y/y 5.60% vs 5.30% expected
- (USD) Unemployment Claims 190K vs 196K expected
Markets Update:
Most Asian stocks inched higher on Friday as markets digested more signals on U.S. monetary policy and positive Chinese economic data, while Japan’s Nikkei 225 index surged on a soft inflation reading from Tokyo.
The Nikkei 225 was the best performer for the day, up 1.5% as data showed inflation in Japan’s capital eased substantially from an over 40-year high in January. The reading, which usually heralds a similar trend in nationwide inflation, puts less pressure on the Bank of Japan to begin tightening policy – a scenario that is positive for Japanese stocks. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes traded in a flat-to-high range on Friday, but were set to rise more than 1% each this week following a swathe of positive economic data. The Taiwan Weighted index was also set for a 0.8% weekly gain, while Australia’s ASX 200 index rose 0.4% on Friday.
Overnight comments from Federal Reserve officials offered some clarity on where U.S. rates could peak this year. But officials also warned that any continued signs of stubborn inflation could keep rates higher for longer.
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