Global Markets:
- Asian Stock Markets : Nikkei up 1.45%, Shanghai Composite down 0.44%, Hang Seng down 0.24% ASX down 0.12%
- Commodities : Gold at $3307.35 (-1.79%), Silver at $36.38 (-0.49%), Brent Oil at $67.18 (0.59%), WTI Oil at $65.68 (0.33%)
- Rates : US 10-year yield at 4.256, UK 10-year yield at 4.469, Germany 10-year yield at 2.564
News & Data:
- (USD) Final GDP q/q -0.5% to -0.2% expected
- (USD) Unemployment Claims 236K to 244K expected
Markets Update:
Asia-Pacific markets traded mixed on Friday, diverging from Wall Street’s overnight gains. Investor sentiment remained cautious after White House spokesperson Karoline Leavitt downplayed the urgency of upcoming tariff deadlines, which have been weighing on markets. The so-called “liberation day” tariffs are scheduled to take effect on July 8 after a 90-day pause, while July 9 marks the deadline for a potential EU agreement to avoid 50% tariffs. Leavitt remarked, “The deadline is not critical. Perhaps it could be extended, but that’s a decision for the president to make.”
Japan’s Nikkei 225 surged 1.38%, topping 40,000 for the first time since January 7, while the Topix gained 1.22%. Tokyo’s core CPI, excluding fresh food and fuel, rose 3.1% in June, slower than May’s 3.6%. In South Korea, the Kospi fell 1.2% and the Kosdaq slipped 1.18%. Hong Kong’s Hang Seng and China’s CSI 300 were flat after industrial profits dropped 9.1% in the first five months of 2025. Australia’s S&P/ASX 200 edged down 0.17% in volatile trade, while India’s Nifty 50 and Sensex were little changed.
Meanwhile, U.S. futures advanced during Asian trading as investors awaited key data. Overnight, the S&P 500 rose 0.8%, approaching its record high, while the Nasdaq gained 0.97% and the Dow climbed 0.94%.
Upcoming Events:
- 12:30 PM GMT – CAD GDP m/m
- 12:30 PM GMT – USD Core PCE Price Index m/m
