Global Markets:
- Asian Stock Markets : Nikkei up 1.17%, Shanghai Composite down 1.26%, Hang Seng up 0.52% ASX up 0.39%
- Commodities : Gold at $4,936.39 (0.64%) Silver at $74.545 (1.37%), Brent Oil at $67.63 (0.31%), WTI Oil at $62.41 (0.24%)
- Rates : US 10-year yield at 4.068, UK 10-year yield at 4.3800, Germany 10-year yield at 2.7420
News & Data:
- (CAD) CPI m/m 0.0% to 0.1% expected
- (CAD) Median CPI y/y 2.5% to 2.5% expected
- (CAD) Trimmed CPI y/y 2.4% to 2.6% expected
Markets Update:
Asian stock markets are trading mostly higher on Wednesday, supported by positive cues from Wall Street overnight, although trading volumes remain thin as major regional markets, including China, Hong Kong, Singapore, Malaysia, Taiwan and South Korea, remain closed for the Lunar New Year holidays. Investors are also cautious ahead of key economic data releases and the minutes from the U.S. Federal Reserve’s latest policy meeting, which may offer clues on future interest rate moves.
Australian shares are modestly higher, extending gains from the previous sessions, with the S&P/ASX 200 approaching the 9,000 level. Strength in iron ore miners, energy and technology stocks is supporting the market, while gold miners are under pressure. Major mining and banking stocks are showing mixed performance, while technology stocks are recording notable gains. Economic data showed Australia’s wage price index rose 0.8 percent in the fourth quarter and 3.4 percent annually, matching expectations.
The Japanese market is trading sharply higher, snapping a four-day losing streak, with gains in automakers, exporters and financial stocks. Strong export growth and a narrower-than-expected trade deficit also supported sentiment.
Elsewhere, New Zealand and Indonesia markets are higher, while several Asian markets remain closed. Wall Street ended slightly higher, and European markets also posted moderate gains. Meanwhile, crude oil prices declined amid expectations of increased global supply.
Upcoming Events:
- 01:30 PM GMT – CAD Core Durable Goods Orders m/m
- 01:30 PM GMT – CAD Durable Goods Orders m/m
