Global Markets:
- Asian Stock Markets : Nikkei down 0.22%, Shanghai Composite down 0.07%, Hang Seng up 0.73% ASX down 0.10%
- Commodities : Gold at $2358.5 (-0.75%), Silver at $28.28 (0.76%), Brent Oil at $82.47 (-0.38%), WTI Oil at $78.01 (-0.29%)
- Rates : US 10-year yield at 4.49, UK 10-year yield at 4.20, Germany 10-year yield at 2.51
News & Data:
- (CAD) Employment Change 90.4K vs 20.9K expected
- (CAD) Unemployment Rate 6.1% vs 6.2% expected
Markets Update:
Asia-Pacific markets showed mixed performance on Monday as investors analyzed China’s April inflation data, which exceeded expectations. China’s consumer price index rose by 0.3% year-on-year, surpassing Reuters’ forecast, while the producer price index dropped by 2.5%, more than anticipated. Attention is now on Japan’s first-quarter GDP report, projected to reveal a 1.5% annualized contraction, potentially impacting the Bank of Japan’s interest rate decisions. India’s inflation figures are also awaited, with economists expecting a slight slowdown to 4.8% in April.
In market movements, Japan’s Nikkei 225 and the broader Topix initially declined but later stabilized to trade flat. South Korea’s Kospi was down by 0.20%, while the Kosdaq fell by 1%. Australia’s S&P/ASX 200 lost 0.2%. Conversely, Hong Kong’s Hang Seng index reversed earlier losses to gain 0.7%, while mainland China’s CSI 300 index remained steady.
In the U.S. on Friday, the Dow Jones Industrial Average extended its winning streak to eight sessions, marking its best week in 2024 with a 0.32% increase. The S&P 500 rose by 0.16%, while the Nasdaq Composite edged lower by 0.03%. However, investor enthusiasm was tempered by consumer sentiment data showing a significant rise in inflation expectations, with the University of Michigan’s preliminary May reading for the consumer sentiment index notably lower than expectations at 67.4, its lowest level in about six months.
Upcoming Events:
- 12:30 PM GMT – CAD Building Permits m/m
