Global Markets:
- Asian Stock Markets : Nikkei down 0.24%, Shanghai Composite up 0.47%, Hang Seng up 0.7% ASX down 0.08%
- Commodities : Gold at $3370.35 (0.19%), Silver at $39.38 (1.19%), Brent Oil at $70.20 (0.19%), WTI Oil at $68.48 (0.23%)
- Rates : US 10-year yield at 4.427, UK 10-year yield at 4.6300, Germany 10-year yield at 2.685
News & Data:
- (CAD) Unemployment Rate 6.9% to 7.1% expected
- (CAD) Employment Change 83.9K to 0.9K expected
Markets Update:
Asian stock markets traded mostly higher on Monday despite weak cues from Wall Street, supported by optimism that the uncertainty around U.S. reciprocal tariffs may soon end. However, U.S. President Donald Trump continues to escalate trade tensions, warning of blanket tariffs of 15–20% on remaining trade partners. He also announced a 30% tariff on EU and Mexican goods starting August 1.
The Australian market was slightly lower, with losses in tech and financials offset by gains in energy and gold stocks. The S&P/ASX 200 fell 0.05% to 8,875.70, while All Ordinaries edged down to 8,818.90. Tech stocks like Block and Zip declined sharply, while gold miners such as Evolution and Northern Star gained over 1%.
Japan’s Nikkei 225 slipped 0.25% to 39,469.72, led by weakness in tech and banking shares. SoftBank fell nearly 2%, while Fast Retailing gained 1%. Machinery orders in Japan declined 0.6% in May, but beat forecasts.
Other Asian markets like China, Hong Kong, and South Korea posted gains between 0.1% and 0.7%, while Taiwan and New Zealand saw losses.
On Wall Street, all major indices closed lower Friday, with the Dow down 0.6%. European markets also ended in the red. Meanwhile, oil prices surged, with WTI crude rising $1.88 to $68.45 following an IEA supply forecast upgrade.
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