Global Markets:
- Asian Stock Markets : Nikkei up 1.20%, Shanghai Composite up 0.32, Hang Seng up 1.02% ASX up 0.42%
- Commodities : Gold at $1930.05 (-0.22%), Silver at $22.67 (-0.39%), Brent Oil at $89.66 (0.18%), WTI Oil at $85.26 (0.027%)
- Rates : US 10-year yield at 4.775, UK 10-year yield at 4.529, Germany 10-year yield at 2.807
News & Data:
- (CAD) Manufacturing Sales m/m 0.7% vs 1.1% expected
- (CAD) Wholesale Sales m/m 2.3% vs 2.5% expected
Markets Update:
Australian stocks closed higher on Tuesday, breaking a three-day downward trend, as investors digested the minutes from the central bank’s recent policy meeting. In New Zealand, the Kiwi dollar weakened after an inflation report, the first since the weekend’s elections, revealed a drop to 5.6% in the third quarter from the previous quarter’s 6%.
The Reserve Bank of Australia’s meeting minutes outlined their decision to maintain the benchmark lending rates at 4.1% for the fourth consecutive month. In Australia, the S&P/ASX 200 index closed 0.42% higher at 7,056.10, while the New Zealand dollar depreciated by 0.39%.
Asian markets showed resilience as Japan’s Nikkei 225 rebounded, gaining 0.98%, and the Topix index advanced by 0.57%. South Korea’s Kospi index added 1%, and the Kosdaq gained 0.93%. Hong Kong’s Hang Seng index rose by 0.75%, while mainland Chinese markets reversed earlier declines to close 0.37% higher.
Overnight in the United States, all major indexes saw gains, with the Dow Jones Industrial Average surging by 0.93%, marking its best performance since September. The S&P 500 climbed by 1.06%, and the Nasdaq Composite registered a 1.2% increase.
Upcoming Events:
- 12:30 PM GMT – CAD CPI m/m
- 12:30 PM GMT – CAD Median CPI y/y
- 12:30 PM GMT – CAD Trimmed CPI y/y
- 12:30 PM GMT – CAD Common CPI y/y
- 12:30 PM GMT – CAD Core CPI m/m
- 12:30 PM GMT – CAD Foreign Securities Purchases
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
