Global Markets:
- Asian Stock Markets : Nikkei up 0.37%, Shanghai Composite up 0.35%, Hang Seng down 1.93%, ASX up 0.23%
- Commodities : Gold at $1952.75 (+0.47%), Silver at $23.21 (+1.31%), Brent Oil at $76.40 (+0.18%), WTI Oil at $72.09 (+0.36%)
- Rates : US 10-year yield at 3.799, UK 10-year yield at 4.419, Germany 10-year yield at 2.523
News & Data:
- (GBP) Retail Sales m/m 0.50% vs 0.30% expected
- (JPY) Tokyo Core CPI y/y 3.20% vs 3.40% expected
- (USD) Pending Home Sales m/m 0.00% vs 1.00% expected
- (USD) Prelim GDP Price Index q/q 4.20% vs 4.00% expected
- (USD) Unemployment Claims 229K vs 249K expected
- (USD) Prelim GDP q/q 1.30% vs 1.10% expected
Markets Update:
Asian stocks ended Friday’s session broadly higher after reports suggested that U.S. lawmakers are inching closer to an agreement that would raise the debt limit for about two years and cap federal spending at the same level as fiscal 2023 for two years.
China’s Shanghai Composite index settled 0.35 percent higher at 3,212.50, reversing early losses as authorities rushed to push out vaccines to combat an ongoing new wave of the coronavirus that is expected to peak in June. Softer-than-expected Tokyo inflation data also spurred more expectations that the Bank of Japan will hold off on tightening policy this year. Australian markets inched higher but posted their worst weekly performance in more than two months.
The dollar eased on optimism that the U.S. government would avert a government default. Gold edged higher while oil prices were broadly higher after having fallen sharply overnight following conflicting messages from Russia and Saudi Arabia ahead of the next OPEC+ policy meeting.
Upcoming Events:
- 06:00 am GMT – (GBP) Retail Sales m/m
- 12:30 pm GMT – (USD) Core PCE Price Index m/m
- 12:30 pm GMT – (USD) Core Durable Goods Orders m/m
- 12:30 pm GMT – (USD) Durable Goods Orders m/m
- 02:00 pm GMT – (USD) Revised UoM Consumer Sentiment
