Global Markets:
- Asian Stock Markets : Nikkei down 0.98%, Shanghai Composite up 0.53%, Hang Seng down 0.46%, ASX down 0.33%
- Commodities : Gold at $1869.75 (-0.25%), Silver at $21.83 (-1.10%), Brent Oil at $85.62 (-0.89%), WTI Oil at $78.93 (-0.99%)
- Rates : US 10-year yield at 3.742, UK 10-year yield at 3.425, Germany 10-year yield at 2.364
News & Data:
- (USD) Prelim UoM Inflation Expectations 4.20% vs 3.90% previous
- (USD) Prelim UoM Consumer Sentiment 66.4 vs 65 expected
- (CAD) Unemployment Rate 5.00% vs 5.10% expected
- (CAD) Employment Change 150.0K vs 15.0K expected
- (GBP) Prelim GDP q/q 0.00% vs 0.00% expected
- (GBP) GDP m/m -0.50% vs -0.30% expected
Markets Update:
Asian stock markets are trading mostly lower on Monday, following the mixed cues from Wall Street on Friday, reflecting lingering uncertainty about the outlook for interest rates ahead of this week’s release of the closely watched US inflation data. Markets also reflected the reaction to the latest batch of corporate earnings news across markets. Richmond Fed President Thomas Barkin said it’s important for the U.S. central bank to continue to raise rates to ensure it brings inflation back to the 2 percent target.
apan’s Nikkei 225 fell 1% and the Topix was down 0.4% as the Japanese yen stood at 131.9 against the U.S. dollar, continuing to remain volatile after a Nikkei report that Japan’s government will nominate Kazuo Ueda as the Bank of Japan’s next governor. In Hong Kong, the Hang Seng index fell 0.6% and the Hang Seng Tech index dropped 0.8%. In mainland China, the Shanghai Composite rose 0.5% and the Shenzhen Component gained 0.7%.
Crude oil futures settled sharply higher Friday on continued optimism about higher fuel demand from China, and on Russia’s move to reduce oil output next month. The rise in yields and the dollar has been a burden for gold prices, which was stuck at $1,860 an ounce compared to an early February peak of $1,959.
Upcoming Events:
Monday, February 13, 2023
- 07:30 AM GMT – (CHF) CPI m/m
Tuesday, February 14, 2023
- 02:00 AM GMT – (NZD) Inflation Expectations q/q
- 07:00 AM GMT – (GBP) Claimant Count Change
- 07:00 AM GMT – (GBP) Average Earnings Index 3m/y
- 01:30 PM GMT – (USD) CPI m/m
- 01:30 PM GMT – (USD) CPI y/y
- 01:30 PM GMT – (USD) Core CPI m/m
Wednesday, February 15, 2023
- 01:00 AM GMT – (AUD) RBA Gov Lowe Speaks
- 07:00 AM GMT – (GBP) CPI y/y
- Tentative – (EUR) EU Economic Forecasts
- 01:30 PM GMT – (USD) Core Retail Sales m/m
- 01:30 PM GMT – (USD) Empire State Manufacturing Index
- 01:30 PM GMT – (USD) Retail Sales m/m
- 02:00 PM GMT – (EUR) ECB President Lagarde Speaks
Thursday, February 16, 2023
- 12:30 AM GMT – (AUD) Employment Change
- 12:30 AM GMT – (AUD) Unemployment Rate
- 01:30 PM GMT – (USD) Core PPI m/m
- 01:30 PM GMT – (USD) PPI m/m
- 01:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 01:30 PM GMT – (USD) Unemployment Claims
- 10:30 PM GMT – (AUD) RBA Gov Lowe Speaks
Friday, February 17, 2023
- 07:00 AM GMT – (GBP) Retail Sales m/m
