Global Markets:
Asian Stock Markets : Nikkei up 0.40%, Shanghai Composite down 0.68%, Hang Seng down 1.41%, ASX up 0.62%
Commodities : Gold at $1926.85 (-0.20%), Silver at $23.46 (-0.67%), Brent Oil at $81.58 (-0.72%), WTI Oil at $75.28 (-0.79%)
Rates : US 10-year yield at 3.387, UK 10-year yield at 3.047, Germany 10-year yield at 2.093
News & Data:
- (EUR) French Industrial Production m/m 1.10% vs 0.20% expected
- (CNY) Caixin Services PMI 52.9 vs 51.1 expected
- (USD) Natural Gas Storage -151B vs -146B expected
- (USD) Factory Orders m/m 1.80% vs 2.30% expected
- (USD) Prelim Unit Labor Costs q/q 1.10% vs 1.60% expected
- (USD) Prelim Nonfarm Productivity q/q 3.00% vs 2.50% expected
- (USD) Unemployment Claims 183K vs 196K expected
- (CAD) Building Permits m/m -7.30% vs -2.10% expected
- (EUR) Main Refinancing Rate 3.00% vs 3.00% expected
- (USD) Challenger Job Cuts y/y 440.00% vs 129.10% previous
- (GBP) Official Bank Rate 4.00% vs 4.00% expected
- (GBP) MPC Official Bank Rate Votes 7-0-2 vs 7-0-2 expected
- (EUR) French 10-y Bond Auction 2.68|2.1 vs 2.77|1.9 previous
- (EUR) Spanish Unemployment Change 70.7K vs -15.2K expected
- (CHF) SECO Consumer Climate -30 vs -38 expected
- (EUR) German Trade Balance 10.0B vs 9.2B expected
- (JPY) 10-y Bond Auction 0.49|4.6 vs 0.50|4.8 previous
- (AUD) NAB Quarterly Business Confidence -1 vs 9 previous
- (AUD) Building Approvals m/m 18.50% vs 1.10% expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, following the mostly positive cues from global markets overnight, as the markets continue to benefit from a positive reaction to the US Fed’s interest rate announcement, with traders expressing optimism the Fed is nearing the end of its rate hiking cycle. Asian markets ended mostly higher on Thursday.Traders also digested the interest rate moves by the Bank of England and the European Central Bank. The BoE and the ECB, both raised their interest rates by 50 basis points and signaled more hikes in the coming months.
China’s service sector expanded for the first time in five months at the start of the year with the rollback of pandemic related restrictions, survey results from S&P Global showed on Friday.
The Japanese stock market is significantly higher on Friday, extending the gains in the previous two sessions, with the benchmark Nikkei 225 moving above the 27,600 level, following the mostly positive cues from global markets overnight, lifted by exporters and financial stocks as traders continue to digest the US Fed’s interest rate announcement.
The Australian stock market is modestly higher on Friday after opening in the red, extending the gains in the previous two sessions, with the benchmark S&P/ASX 200 staying above the 7,500 level, following the mostly positive cues from global markets overnight, with gains is financial stocks partially offset by weakness in mining and energy stocks.
Crude oil prices drifted lower Thursday, weighed down by data showing an increase in U.S. crude inventories last week. The dollar’s recovery and uncertainty about the outlook for energy demand due to concerns about a global recession also hurt.
Upcoming Events:
- 08:30 am GMT – (CHF) Gov Board Member Maechler Speaks
- 01:30 pm GMT – (USD) Average Hourly Earnings m/m
- 01:30 pm GMT – (USD) Non-Farm Employment Change
- 01:30 pm GMT – (USD) Unemployment Rate
- 03:00 pm GMT – (USD) ISM Services PMI
