Global Markets:
- Asian Stock Markets : Nikkei down 0.14%, Shanghai Composite up 0.68%, Hang Seng down 0.04%, ASX up 0.12%
- Commodities : Gold at $1914.45 (-0.16%), Silver at $22.54 (-0.12%), Brent Oil at $74.50 (-0.01%), WTI Oil at $69.77 (-0.16%)
- Rates : US 10-year yield at 3.859, UK 10-year yield at 4.405, Germany 10-year yield at 2.4100
News & Data:
- (USD) Final GDP q/q 2.00% vs 1.40% expected
- (USD) Unemployment Claims 239K vs 264K expected
Markets Update:
Asian stock markets are displaying mostly positive trends on Friday, buoyed by the favorable outcomes of the US Fed’s annual bank stress test. The results indicate that major banks are well-prepared to endure a severe economic downturn and maintain their lending activities to support households and businesses. Despite mixed signals from global markets overnight, Asian markets exhibit resilience and upward momentum.
The Australian stock market shows a mixed performance on Friday. While it experienced slight declines as it extended losses from the previous session, the benchmark S&P/ASX 200 managed to report a marginal gain of 0.12%. This divergence reflects the market’s dynamic nature and the varied performance of different sectors and stocks within the index.
Meanwhile, Japanese stocks have experienced a decline as investors analyze Tokyo’s core consumer price index, which has consistently exceeded the central bank’s target for thirteen consecutive months. The Nikkei 225 index contracted by 0.14%, while the Topix index slid by 0.8%. Conversely, South Korea’s Kospi index saw a modest increase of 0.3%. Notably, Wall Street had a positive session, with the Dow leading the gains driven primarily by major banks such as JPMorgan Chase and Goldman Sachs.
Crude oil prices continue their upward trajectory on Thursday, supported by a significant decline in crude oil stockpiles. However, concerns regarding potential economic slowdown and rising interest rates have tempered the extent of the price increase.
Upcoming Events:
- 9:00 AM GMT – EUR CPI Flash Estimate y/y
- 9:00 AM GMT – EUR Core CPI Flash Estimate y/y
- 12:30 PM GMT – CAD GDP m/m
- 12:30 PM GMT – USD Core PCE Price Index m/m
- 2:00 PM GMT – USD Revised UoM Consumer Sentiment
- 2:30 PM GMT – CAD BOC Business Outlook Survey
