Global Markets:
- Asian Stock Markets : Nikkei up 1.67%, Shanghai Composite closed, Hang Seng up 0.29% ASX up 0.51%
- Commodities : Gold at $1835.45 (0.08%), Silver at $21.25 (0.45%), Brent Oil at $86.18 (0.48%), WTI Oil at $84.475 (0.34%)
- Rates : US 10-year yield at 4.745, UK 10-year yield at 4.6655, Germany 10-year yield at 2.945
News & Data:
- (USD) ADP Non-Farm Employment Change 89K vs 154K expected
- (USD) Final Services PMI 50.1 vs 50.2 expected
- (USD) ISM Services PMI 53.6 vs 53.5 expected
Markets Update:
The Hang Seng index in Hong Kong made significant gains, surging by over 2%, setting the pace for positive trends in the wider Asia-Pacific region. Investors eagerly awaited the release of U.S. jobs data, as it carried the potential to shape the Federal Reserve’s future decisions on interest rates. At the time of reporting, the Hang Seng index was trading 2.1% higher.
Australia’s S&P/ASX 200 also joined the upward momentum, registering a 0.34% increase. In South Korea, the Kospi index added 0.53%, and the Kosdaq index rose by an impressive 0.98% within the first hour of trading. Meanwhile, Japan’s market saw minor declines, with the Nikkei 225 and Topix slipping by 0.14% and 0.09%, respectively.
It’s important to note that China’s markets remained closed throughout the weeklong holiday period. In the United States, the previous day saw all three major indexes experiencing slight setbacks. The Dow Jones Industrial Average decreased by 9.98 points, or 0.03%, closing at 33,119.57. The S&P 500 dipped by 0.13%, reaching 4,258.19, and the Nasdaq Composite traded down by 0.12%, concluding at 13,219.83.
Upcoming Events:
- 12:30 PM GMT – CAD Employment Change
- 12:30 PM GMT – CAD Current Account
- 12:30 PM GMT – USD Average Hourly Earnings m/m
- 12:30 PM GMT – USD Non-Farm Employment Change
- 12:30 PM GMT – USD Unemployment Rate
