Global Markets:
- Asian Stock Markets : Nikkei up 0.84%, Shanghai Composite up 0.00%, Hang Seng up 0.05%, ASX up 0.27%
- Commodities : Gold at $1978.65 (-0.17%), Silver at $23.62 (+0.15%), Brent Oil at $73.14 (+0.74%), WTI Oil at $68.54 (+0.66%)
- Rates : US 10-year yield at 3.666, UK 10-year yield at 4.212, Germany 10-year yield at 2.283
News & Data:
- (USD) JOLTS Job Openings 10.10M vs 9.41M expected
- (CAD) GDP m/m 0.00% vs -0.10% expected
- (EUR) German Prelim CPI m/m -0.10% vs 0.20% expected
Markets Update:
Asian stock markets are trading mostly higher on Thursday, despite the broadly negative cues from global markets overnight, as traders react to the passage of the US debt ceiling bill by the U.S. House of Representatives by a wide margin. The U.S. Senate must vote on the bill later this week before US President Joe Biden can sign it into law to avoid a potentially disastrous default.
The Australian stock market is modestly higher on Thursday, recouping some of the losses in the previous two sessions, with the benchmark S&P/ASX 200 moving a tad above the 7,100 level, despite the broadly negative cues from global markets overnight, boosted by gains in gold miners and technology stocks.
In Japan, the Nikkei 225 saw a 0.3% gain after it retreated from the 31,000 mark on Wednesday, with the Topix also up by 0.46%. Australia’s S&P/ASX 200 rebounded and gained 0.26%, although South Korea was more mixed. The Kospi was down 0.42% and the Kosdaq was up 0.58%.
Crude oil prices fell sharply on Wednesday as worries about fuel demand resurfaced, while a stronger dollar also weighed on oil prices.
Upcoming Events:
- 12:15 PM GMT – (EUR) Main Refinancing Rate
- 12:15 PM GMT – (EUR) Monetary Policy Statement
- 12:30 PM GMT – (USD) Unemployment Claims
- 12:45 PM GMT – (EUR) ECB Press Conference
- 02:00 PM GMT – (CAD) Ivey PMI
- 04:50 PM GMT – (CAD) BOC Gov Macklem Speaks
