- Asian Stock Markets : Nikkei up 1.23%, Shanghai Composite up 0.45%, Hang Seng up 0.44%, ASX up 0.31%
- Commodities : Gold at $1786.55 (-0.18%), Silver at $19.94 (-0.71%), Brent Oil at $92.11 (-0.25%), WTI Oil at $86.47 (-0.07%)
- Rates : US 10-year yield at 2.871, UK 10-year yield at 2.242, Germany 10-year yield at 1.046
News & Data:
- (GBP) CPI y/y 10.10% vs 9.80% expected
- (AUD) Wage Price Index q/q 0.70% vs 0.80% expected
- (CAD) Trimmed CPI y/y 5.40% vs 5.40% expected
- (CAD) Median CPI y/y 5.00% vs 4.90% expected
- (CAD) Common CPI y/y 5.50% vs 4.70% expected
- (CAD) CPI m/m 0.10% vs 0.10% expected
Asian stocks were mostly higher on Wednesday, though the upside remained capped ahead of the release of minutes of the U.S. Federal Reserve’s latest policy meeting later in the day. The dollar index took a breather and gold traded flat, while oil edged up slightly to recover from six-month lows after industry data showed a larger-than-expected drop in U.S. oil and gasoline stocks.
Australian markets were little changed with a positive bias after Q2 wage growth lagged forecasts. Japan’s Nikkei index climbed 0.8 percent 29,101, breaking through the 29,000 level for the first time since Jan.6, following encouraging earnings updates from U.S. retail giants. China’s Shanghai Composite index rose 0.2 percent, a day after policymakers announced a slew of stimulus measures to revive growth.
Oil prices had fallen overnight to their lowest since before Russia’s invasion of Ukraine in late February, with markets speculating on Iran’s response to a proposal to revive the 2015 nuclear deal, which could increase Iranian oil exports.
- 12:30 PM GMT – (USD) Core Retail Sales m/m
- 12:30 PM GMT – (USD) Retail Sales m/m
- 06:00 PM GMT – (USD) FOMC Meeting Minutes