Global Markets:
- Asian Stock Markets : Nikkei up 0.78%, Shanghai Composite down 0.21%, Hang Seng down 0.27%, ASX down 0.28%
- Commodities : Gold at $1879.65 (+0.10%), Silver at $23.66 (-0.90%), Brent Oil at $79.09 (-0.70%), WTI Oil at $74.22 (-0.55%)
- Rates : US 10-year yield at 3.554, UK 10-year yield at 3.581, Germany 10-year yield at 2.275
News & Data:
- (JPY) Tokyo Core CPI y/y 4.00% vs 3.80% expected
- (JPY) Household Spending y/y -1.20% vs 0.60% expected
- (USD) Consumer Credit m/m 28.0B vs 25.0B expected
- (CAD) Building Permits m/m 14.10% vs 0.40% expected
- (EUR) Unemployment Rate 6.50% vs 6.50% expected
- (EUR) Sentix Investor Confidence -17.5 vs -18.1 expected
- (EUR) Italian Monthly Unemployment Rate 7.80% vs 7.80% expected
- (CHF) Foreign Currency Reserves 784B vs 790B previous
Markets Update:
Asian stocks ended on a mixed note Tuesday, with hawkish remarks from two Federal Reserve officials and fears of a coming recession weighing on markets. Investors also turned cautious ahead of key U.S. inflation data due this week.
Chinese shares snapped a six-session winning streak as Henan, the country’s third-most populous province, struggled to keep COVID cases in check. Hong Kong shares, on the other hand, jumped to a six-month high. Japanese shares bucked the weak trend as traders returned to their desks following a public holiday. Australian markets traded lower, with tech stocks and gold miners leading losses.
Prices of most base metals fell on Tuesday from recent rallies driven by top consumer China’s reopening, as traders gauged the risks of a global economic downturn and weak consumption. Treasury yields fell and the dollar consolidated recent losses while oil prices fell after three consecutive sessions of gains.
Upcoming Events:
- 10:10 AM GMT – (CAD) BOC Gov Macklem Speaks
- 10:10 AM GMT – (JPY) BOJ Gov Kuroda Speaks
- 02:00 PM GMT – (USD) Fed Chair Powell Speaks
