Asian stock markets: Nikkei down 0.65 %, Shanghai Composite gained 1.10 %, Hang Seng fell 1.00 %, ASX dropped 0.60 %
Commodities: Gold at $1082 (-1.10 %), Silver at $14.60 (-0.70 %), WTI Oil at $48.66 (+0.45 %), Brent Oil at $55.43 (-0.05 %)
Rates: US 10 year yield at 2.27, UK 10 year yield at 2.00, German 10 year yield at 0.74
News & Data:
China HSBC Manufacturing PMI 48.2, Expected: 49.7, Previous: 49.4
Japan Manufacturing PMI 51.4, Expected: 50.5, Previous: 50.1
New Zealand Trade Balance m/m -NZ$60mln, Expected: NZ$100mln, Previous: NZ$350mln
New Zealand Trade Balance y/y -NZ$2.85bln, Expected: -NZ$2.7bln, Previous: -NZ$2.57bln
S&P: Could Lower Australia Rating If Budget Doesn't Improve
Spot Gold Hits Fresh 5 Year Low
Asian shares tumble as weak China PMI revives demand concerns – RTRS
China factories falter, commodities take the hit – RTRS
Wall Street falls for third day as earnings fall short – RTRS
Euro buoyant on Greek bailout step, Aussie hits six-year low – RTRS
The US Dollar is bid again after a much better Initial Jobless Claims print yesterday and the currency extended gains against most of the major currencies overnight. The main event in the Asian session was the Chinese HSBC Manufacturing PMI, which arrived at 48.2 vs 49.7 expected. The poor data release send Asian stocks lower and put the Aussie Dollar under pressure. AUD/USD tumbled to 0.7268, from a high of 0.7355 ahead of the release. The next major support level now lies at 0.70.
Meanwhile, the USD/JPY remained very resilient throughout the week and with the Dollar bid again, it’s possible that we could see another test of the 124.40/50 resistance area before the trading week ends.
Looking ahead, we have a fairly busy economic calendar with plenty of Manufacturing & Services PMI data out of the Euro Zone.