Global Markets:
- Asian Stock Markets : Nikkei down 1.39%, Shanghai Composite down 0.82%, Hang Seng down 1.36%, ASX down 1.50%
- Commodities : Gold at $1935.15 (0.03%), Silver at $22.72 (+0.31%), Brent Oil at $84.86 (-0.04%), WTI Oil at $80.94 (-0.06%)
- Rates : US 10-year yield at 4.193, UK 10-year yield at 4.658, Germany 10-year yield at 2.664
News & Data:
- (CAD) CPIm/m 0.6% vs 0.3% expected
- (CAD) Median CPI y/y 3.7% vs 3.7% expected
- (CAD) Trimmed CPI y/y 3.6% vs 3.6% expected
- (USD) Core Retail Sales m/m 1.0% vs 0.4% expected
- (USD) Retail Sales m/m 0.7% vs 0.4% expected
Markets Update:
In the Asian market, Japan’s Nikkei 225 index faced a 1.39% decline, closing at 31,766. This marked the first time in over a month that the index dipped below the 32,000 mark. Simultaneously, the Topix index experienced a 1.29% decrease, finishing at 2,260.84. Despite the Reuters Tankan survey reporting an upswing in business sentiment for July, the negative trend persisted in these markets.
South Korea’s Kospi index returned from a public holiday with a notable 1.76% drop, concluding at 2,525.64. The Kosdaq index also suffered a more significant loss of 2.59%, reaching its lowest point since July 11 at 878.29. Meanwhile, Australia’s S&P/ASX 200 index slipped by 1.5%, closing at 7,195. This marked the third occurrence of losses in four days for the Australian market.
In other regions, Hong Kong’s Hang Seng index saw a 1.36% decline, and mainland Chinese markets followed suit with the CSI 300 index down by 0.35%. Notably, China’s house price index slipped into contraction territory for the first time since April, experiencing a 0.1% year-on-year drop. Overnight in the United States, all three major indexes recorded declines: the S&P 500 fell by 1.16%, the Nasdaq Composite dropped 1.14%, and the Dow Jones Industrial Average slid by 1.02%, marking the end of a three-day positive streak.
Upcoming Events:
- 12:30 PM GMT – CAD Wholesale Sales m/m
- 12:30 PM GMT – USD Building Permits
- 12:30 PM GMT – USD Trimmed CPI y/y
- 2:30 PM GMT – USD Crude Oil Inventories
- 6:00 PM GMT – USD FOMC Meeting Minutes
