Global Markets:
- Asian Stock Markets : Nikkei down 1.25%, Shanghai Composite up 0.95%, Hang Seng up 0.94%, ASX up 0.66%
- Commodities : Gold at $1899.55 (+0.04%), Silver at $23.88 (-0.52%), Brent Oil at $83.84 (-0.23%), WTI Oil at $78.31 (-0.10%)
- Rates : US 10-year yield at 3.450, UK 10-year yield at 3.367, Germany 10-year yield at 2.154
News & Data:
- (USD) Unemployment Claims 205K vs 216K expected
- (USD) Core CPI m/m 0.30% vs 0.30% expected
- (USD) CPI y/y 6.50% vs 6.50% expected
- (USD) CPI m/m -0.10% vs -0.10% expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, following the broadly positive cues from global markets overnight, as data showing a drop in U.S. consumer prices inflation in the month of December, the first time in more than two and a half years, raised expectations the US Fed will slow down the pace of its interest rate hikes in the coming months. The US Fed is still widely expected to raise rates by at least 25 basis points at its next meeting.
The Japanese stock market is significantly lower on Friday, as a stronger yen weighed on exporters, partially offset by gains in technology and financial stocks with traders digesting the softer than expected US inflation data. Chinese stocks rose amid continued optimism over an economic rebound in the country, after the country reopened its international borders for the first time in three years. The Australian stock market is significantly higher with gains across most sectors, led by mining and energy stocks amid continued strength in commodity prices.
Crude oil futures settled higher on Thursday, gaining for a sixth straight session on a weaker dollar and data showing a slowdown in U.S. inflation.
Upcoming Events:
- 07:00 AM GMT – (GBP) GDP m/m
- 03:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
- 03:00 PM GMT – (USD) Prelim UoM Inflation Expectations
