Global Markets:
- Asian Stock Markets : Nikkei down 0.15%, Shanghai Composite down 0.05%, Hang Seng down 0.25%, ASX down 1.12%
- Commodities : Gold at $1815.55 (-0.09%), Silver at $20.71 (-1.08%), Brent Oil at $82.60 (-0.27%), WTI Oil at $76.18 (-0.18%)
- Rates : US 10-year yield at 3.945, UK 10-year yield at 3.779, Germany 10-year yield at 2.526
News & Data:
- (USD) Revised UoM Consumer Sentiment 67 vs 66.4 expected
- (USD) New Home Sales 670K vs 620K expected
- (USD) Core PCE Price Index m/m 0.60% vs 0.40% expected
Markets Update:
Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from global markets on Friday, as the unexpected spike in US core consumer prices added to recent concerns about the outlook for interest rates as the US Federal Reserve may be inclined to leave interest rates higher for longer. Asian markets closed mixed on Friday.
The Japanese stock market is slightly lower on Monday, giving up the gains in the previous session, with the Nikkei 225 staying above the 27,400 level, following the broadly negative cues from global markets on Friday, dragged by technology stocks as traders remain cautious ahead of Bank of Japan governor nominee Kazuo Ueda’s appearance before the upper house. China’s blue chips were off 0.2%, while China Renaissance Holdings bounced after the mainland boutique bank said its missing chairman is cooperating with Chinese authorities in an investigation.
Crude oil futures showed a big turnaround over the course of the trading day on Friday after coming under pressure early in the session. The rise in the dollar and yields has been a burden for gold, which shed 1.7% last week and was last lying at $1,810 an ounce.
Upcoming Events:
Monday, February 27, 2023
- 09:00 AM GMT – (GBP) MPC Member Broadbent Speaks
- 01:30 PM GMT – (USD) Core Durable Goods Orders m/m
- 01:30 PM GMT – (USD) Durable Goods Orders m/m
- 03:00 PM GMT – (USD) Pending Home Sales m/m
Tuesday, February 28, 2023
- 04:10 AM GMT – (JPY) BOJ Gov-Designate Ueda Speaks
- 01:30 PM GMT – (CAD) GDP m/m
- 03:00 PM GMT – (USD) CB Consumer Confidence
- 03:00 PM GMT – (USD) Richmond Manufacturing Index
Wednesday, March 01, 2023
- 12:30 AM GMT – (AUD) CPI y/y
- 12:30 AM GMT – (AUD) GDP q/q
- 10:00 AM GMT – (GBP) BOE Gov Bailey Speaks
- 03:00 PM GMT – (USD) ISM Manufacturing PMI
Thursday, March 02, 2023
- 10:00 AM GMT – (EUR) CPI Flash Estimate y/y
- 10:00 AM GMT – (EUR) Core CPI Flash Estimate y/y
- 01:30 PM GMT – (USD) Unemployment Claims
- Tentative – (NZD) RBNZ Gov Orr Speaks
- 09:00 PM GMT – (USD) FOMC Member Waller Speaks
Friday, March 03, 2023
- 03:00 PM GMT – (USD) ISM Services PMI
