Global Markets:
- Asian Stock Markets : Nikkei down 0.11%, Shanghai Composite up 0.42%, Hang Seng down 0.99%, ASX up 0.34%
- Commodities : Gold at $1722.15 (-0.03%), Silver at $17.98 (+0.54%), Brent Oil at $95.45 (+2.61%), WTI Oil at $88.97 (+2.42%)
- Rates : US 10-year yield at 3.195, UK 10-year yield at 2.995, Germany 10-year yield at 1.543
News & Data:
- (USD) Average Hourly Earnings m/m 0.30% vs 0.40% expected
- (USD) Non-Farm Employment Change 315K vs 295K expected
- (USD) Unemployment Rate 3.70% vs 3.50% expected
Markets Update:
Asian stock markets are trading mostly lower on Monday, following the broadly negative cues from Wall Street on Friday, as traders remain concerned aver the outlook for the global economy amid the energy crisis in Europe and the report of fresh COVID-19 related lockdowns in China following new virus outbreaks, with the sixth-largest city Chengdu entering full lockdown.
The Australian stock market is slightly higher in choppy trading, recouping some of the losses in the previous three sessions, despite the broadly negative cues from Wall Street on Friday, with strength is mining and energy stocks amid a rebound in commodity prices. Traders also await the Reserve Bank of Australia’s interest rate decision on Tuesday, with the RBA widely tipped to raise interest rates by another 50 basis points.
The Japanese stock market is modestly lower in choppy trading on Monday, extending the losses in the previous three sessions, with the Nikkei 225 falling below the 27,600 level, following the broadly negative cues from Wall Street on Friday, with weakness in exporters and technology stocks.
Crude oil prices ticked higher Friday on rising prospects for a reduction in output from OPEC and allies. But prices were down for the week amid worries about outlook for energy demand due to concerns about slowing global growth.
Upcoming Events:
Monday, September 05, 2022
- All Day – (All) OPEC-JMMC Meetings
- 03:30 PM GMT – (GBP) MPC Member Mann Speaks
Tuesday, September 06, 2022
- 04:30 AM GMT – (AUD) Cash Rate
- 04:30 AM GMT – (AUD) RBA Rate Statement
- 01:45 PM GMT – (USD) Final Services PMI
- 02:00 PM GMT – (USD) ISM Services PMI
Wednesday, September 07, 2022
- 01:30 AM GMT – (AUD) GDP q/q
- 09:00 AM GMT – (GBP) Monetary Policy Report Hearings
- 02:00 PM GMT – (CAD) BOC Rate Statement
- 02:00 PM GMT – (CAD) Overnight Rate
- 02:00 PM GMT – (CAD) Ivey PMI
- 02:00 PM GMT – (USD) FOMC Member Mester Speaks
- 04:35 PM GMT – (USD) FOMC Member Brainard Speaks
Thursday, September 08, 2022
- 03:05 AM GMT – (AUD) RBA Gov Lowe Speaks
- 12:15 PM GMT – (EUR) Main Refinancing Rate
- 12:15 PM GMT – (EUR) Monetary Policy Statement
- 12:30 PM GMT – (USD) Unemployment Claims
- 12:45 PM GMT – (EUR) ECB Press Conference
- 01:10 PM GMT – (USD) Fed Chair Powell Speaks
Friday, September 09, 2022
- All Day – (EUR) EU Economic Summit
- 12:30 PM GMT – (CAD) Employment Change
- 12:30 PM GMT – (CAD) Unemployment Rate
- 04:00 PM GMT – (USD) FOMC Member George Speaks
- 04:00 PM GMT – (USD) FOMC Member Waller Speaks
