08th August 2022 Monday: Asian markets mixed on US jobs numbers

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Global Markets:

  • Asian Stock Markets : Nikkei up 0.26%, Shanghai Composite up 0.31%, Hang Seng down 0.63%, ASX up 0.07%
  • Commodities : Gold at $1793.60 (+0.13%), Silver at $20.06 (+1.11%), Brent Oil at $95.03 (+0.12%), WTI Oil at $89.19 (+0.20%)
  • Rates : US 10-year yield at 2.797, UK 10-year yield at 1.971, Germany 10-year yield at 0.884

News & Data:

  • (NZD) Inflation Expectations q/q 3.07% vs 3.29% previous
  • (CAD) Ivey PMI 49.6 vs 60.3 expected
  • (USD) Unemployment Rate 3.50% vs 3.60% expected
  • (USD) Non-Farm Employment Change 528K vs 250K expected
  • (USD) Average Hourly Earnings m/m 0.50% vs 0.30% expected
  • (CAD) Unemployment Rate 4.90% vs 5.00% expected
  • (CAD) Employment Change -30.6K vs 14.2K expected

Markets Update:

Asian share markets were subdued on Monday and the dollar held firm after a stunning U.S. payrolls report pushed back against talk of recession but also bolstered the case for more super-sized rate hikes.

Chinese stocks fell on Monday as investors digested mixed trade data from the country. The Australian stock market is slightly lower in choppy trading on Monday, giving up some of the gains in the previous session, with the benchmark S&P/ASX 200 staying above the 7,000 mark.  The Japanese stock market is modestly higher in choppy trading on Monday, extending the gains in the previous three sessions, with the Nikkei 225 moving above the 28,200 level, following the mixed cues from Wall Street on Friday, with gains in financial stocks, even as a better than expected US monthly jobs data again raised concerns about the outlook for interest rates.

Crude oil prices climbed higher Friday, lifted by the strong jobs report, but still posted a weekly loss amid concerns about demand due to economic slowdown. The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 106.611 after a sharp jump following the payrolls data release.

Upcoming Events:

Wednesday, August 10, 2022   

  • 12:30 PM GMT – (USD) CPI m/m
  • 12:30 PM GMT – (USD) Core CPI m/m

Thursday, August 11, 2022   

  • 12:30 PM GMT – (USD) PPI m/m
  • 12:30 PM GMT – (USD) Core PPI m/m
  • 12:30 PM GMT – (USD) Unemployment Claims

Friday, August 12, 2022   

  • 06:00 AM GMT – (GBP) GDP m/m”
  • 06:00 AM GMT – (GBP) Prelim GDP q/q
  • 02:00 PM GMT – (USD) Prelim UoM Consumer Sentiment