04th July 2022 Monday: Asian markets mostly in the green

IC Markets No Comments

Global Markets:

  • Asian Stock Markets : Nikkei up 0.84%, Shanghai Composite up 0.53%, Hang Seng down 0.11%, ASX up 1.11%
  • Commodities : Gold at $1811.50 (+0.56%), Silver at $19.75 (+0.41%), Brent Oil at $111.89 (+0.23%), WTI Oil at $108.65 (+0.20%)
  • Rates : US 10-year yield at 2.889, UK 10-year yield at 2.125, Germany 10-year yield at 1.259

News & Data:

  • (CHF) CPI m/m 0.50% vs 0.30% expected
  • (USD) ISM Manufacturing PMI 53 vs 54.6 expected
  • (EUR) Core CPI Flash Estimate y/y 3.70% vs 3.90% expected
  • (EUR) CPI Flash Estimate y/y 8.60% vs 8.50% expected

Markets Update:

Asian stock markets are trading mostly lower on Monday, despite the broadly positive cues from the Wall Street on Friday, as traders remain concerned about a global recession as major central banks signaled their intent to move ahead with aggressive rate hikes to tame surging inflation. 

The Australian stock market is sharply higher on Monday, recouping some of the losses in the previous three sessions, with the benchmark S&P/ASX 200 moving above the 6,600 level, with strength across most sectors, particularly financials, technology, materials and energy stocks. Hong Kong and South Korea stocks were down. In China, the Shanghai Composite gained 0.1% and the Shenzhen Component rose 0.9%.

Crude oil prices moved higher Friday on concerns about supply outages in Libya and shutdowns in Norway caused by striking workers. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 105.143.

Upcoming Events:

Monday, July 04, 2022   

  • 02:30 PM GMT – (CAD) BOC Business Outlook Survey

Tuesday, July 05, 2022   

  • 04:30 AM GMT – (AUD) Cash Rate
  • 04:30 AM GMT – (AUD) RBA Rate Statement
  • 10:00 AM GMT – (GBP) BOE Gov Bailey Speaks

Wednesday, July 06, 2022   

  • Tentative – (NZD) RBNZ Statement of Intent
  • 09:00 AM GMT – (EUR) EU Economic Forecasts
  • 02:00 PM GMT – (USD) JOLTS Job Openings
  • 02:00 PM GMT – (USD) ISM Services PMI
  • 06:00 PM GMT – (USD) FOMC Meeting Minutes

Thursday, July 07, 2022   

  • 12:15 PM GMT – (USD) ADP Non-Farm Employment Change
  • 12:30 PM GMT – (USD) Unemployment Claims
  • 02:00 PM GMT – (CAD) Ivey PMI
  • 05:00 PM GMT – (USD) FOMC Member Bullard Speaks

Friday, July 08, 2022   

  • 11:55 AM GMT – (EUR) ECB President Lagarde Speaks
  • 12:30 PM GMT – (CAD) Employment Change
  • 12:30 PM GMT – (CAD) Unemployment Rate
  • 12:30 PM GMT – (USD) Average Hourly Earnings m/m
  • 12:30 PM GMT – (USD) Non-Farm Employment Change
  • 12:30 PM GMT – (USD) Unemployment Rate