Global Markets:
- Asian Stock Markets : Nikkei up 0.32%, Shanghai Composite down 0.38%, Hang Seng down 1.98%, ASX down 0.20%
- Commodities : Gold at $1963.25 (+0.36%), Silver at $25.10 (+0.38%), Brent Oil at $78.58 (+0.10%), WTI Oil at $74.19 (+0.16%)
- Rates : US 10-year yield at 3.787, UK 10-year yield at 4.487, Germany 10-year yield at 2.422
News & Data:
- (CAD) Wholesale Sales m/m 3.5% vs 1.1% expected
- (USD Empire State Manufacturing Index 1.1% vs -3.5% expected
Markets Update:
The Asia-Pacific markets displayed a mixed performance, with Hong Kong stocks leading losses in the region, falling by 2% due to declines in real estate and technology sectors.
In Australia, the S&P/ASX 200 continued its downward trajectory, closing 0.2% lower at 7,283.8 for the second consecutive day of losses. Investors in the country were carefully examining the minutes from the Reserve Bank of Australia’s July meeting. The minutes likely provided insights into the bank’s monetary policy decisions and economic outlook, influencing investor sentiment.
On a positive note, the Nikkei 225 rose by 0.32% to close at 32,493.89, and the Topix increased by 0.59% to 2,252.28. Japanese investors are anticipating key economic data later in the week, including trade balance and consumer price index figures for June.
Meanwhile, South Korea’s Kospi slipped by 0.43%, but the Kosdaq witnessed a notable rise of 1.77%. The country held its first Nuclear Consultative Group meeting with the U.S., focusing on discussions related to information sharing, consultation mechanisms, and joint planning and execution aimed at strengthening nuclear deterrence against North Korea.
In the U.S., all three major indexes made gains as investors prepared for the second-quarter earnings season. The Dow Jones Industrial Average reached its highest closing level in 2023 with an addition of 0.22%. The S&P 500 climbed by 0.39%, and the Nasdaq Composite recorded the largest gain of 0.93%.
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 – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
