Monday 12th November: Asian Markets mixed – pare losses after weak start

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Monday 12th November: Asian Markets mixed - pare losses after weak start 1

Global Markets:

  • Asian Stock Markets : Nikkei up 0.09%, Shanghai Composite up 0.93%, Hang Seng up 0.14%, ASX up 0.33%
  • Commodities : Gold at $1208.50 (-0.01%), Silver at $14.13 (-0.07%), Brent Oil at $71.48 (+1.85%), WTI Oil at $60.97 (+1.30%)
  • Rates : US 10-year yield at 3.186, UK 10-year yield at 1.493, Germany 10-year yield at 0.408

News & Data:

  • (USD) Prelim UoM Consumer Sentiment 98.3 vs 98 expected
  • (USD) Core PPI m/m 0.50% vs 0.20% expected
  • (USD) PPI m/m 0.60% vs 0.20% expected
  • (GBP) Prelim Business Investment q/q -1.20% vs 0.20% expected
  • (GBP) Prelim GDP q/q 0.60% vs 0.60% expected
  • (GBP) Manufacturing Production m/m 0.20% vs 0.10% expected
  • (GBP) GDP m/m 0.00% vs 0.10% expected
  • Japan's prime minister calls for public works spending program to help lift the economy
  • Chinese monetary policy eyes boosting capital markets

CFTC Positioning Data:

  • EUR short 47K vs 33K short last week.  Shorts increased by 14K
  • GBP short 57K vs 52K short last week. Shorts increased by 5K
  • JPY short 89K vs 92K short last week. Shorts trimmed by 3K
  • CHF short 20K vs 15K short last week. shorts increased by 5K
  • CAD short 3k vs 10k short last week. Shorts trimmed by 7K
  • AUD short 66k vs 70k short last week. Shorts increased by 4K
  • NZD short 26K vs 35K short last week. Shorts trimmed by 9K

Markets Update:

Asian stock markets are mixed on Monday with some of the markets recovering after a weak start following the negative cues from Wall Street on Friday amid worries about global economic growth, trade wars and rising interest rates. Nevertheless, the gains made by markets are muted as investors treaded cautiously.

Crude oil prices rose in Asian trades after falling on Friday for a tenth straight session. A combination of weak factory-gate inflation data in China and low oil prices weighed on global stocks on Friday, dragging MSCI's gauge of global stocks to its worst day in two weeks. The index was last 0.09 percent lower.

Japan's Nikkei 225 erased early losses of more than 0.7 percent to trade fractionally higher while the Topix index was near flat. In South Korea, the Kospi retraced losses of more than 0.6 percent to trade down 0.3 percent. Markets in Greater China were mostly positive in early trade.

Taiwan's Taiex index was up 0.35 percent while Hong Kong's Hang Seng Index added 0.14 percent. Major indexes in the mainland markets traded mostly flat: The Shanghai Composite added a percent, while the Shenzhen composite added two. Australia stocks were higher after the close on Monday, as gains in the Utilities, Energy and Healthcare sectors led shares higher.

Taking some pressure off a sharp drop in oil prices last week, Saudi Arabia's energy minister said on Sunday that Riyadh plans to reduce its oil supply to world markets by 500,000 barrels per day in December, a global reduction of about 0.5 percent. The dollar index, which tracks the greenback against a basket of six major rivals, was up 0.12 percent at 97.022.

Upcoming Events:

Monday, November 12, 2018  

  • 08:30 PM GMT – (USD) FOMC Member Daly Speaks

Tuesday, November 13, 2018  

  • 01:30 AM GMT – (AUD) NAB Business Confidence
  • 10:30 AM GMT – (GBP) Average Earnings Index 3m/y
  • 10:30 AM GMT – (GBP) Unemployment Rate
  • 11:00 AM GMT – (EUR) German ZEW Economic Sentiment
  • 04:00 PM GMT – (USD) FOMC Member Brainard Speaks

Wednesday, November 14, 2018  

  • 12:50 AM GMT – (JPY) Prelim GDP q/q
  • 01:30 AM GMT – (AUD) Wage Price Index q/q
  • 03:00 AM GMT – (CNY) Fixed Asset Investment ytd/y
  • 03:00 AM GMT – (CNY) Industrial Production y/y
  • 08:00 AM GMT – (EUR) German Prelim GDP q/q
  • 10:30 AM GMT – (GBP) CPI y/y
  • 10:30 AM GMT – (GBP) PPI Input m/m
  • 10:30 AM GMT – (GBP) RPI y/y
  • 11:00 AM GMT – (EUR) Flash GDP q/q
  • 02:30 PM GMT – (USD) CPI m/m
  • 02:30 PM GMT – (USD) Core CPI m/m
  • 04:00 PM GMT – (USD) FOMC Member Quarles Speaks

Thursday, November 15, 2018  

  • 12:00 AM GMT – (USD) Fed Chair Powell Speaks
  • 01:30 AM GMT – (AUD) Employment Change
  • 01:30 AM GMT – (AUD) Unemployment Rate
  • 02:30 AM GMT – (AUD) RBA Assist Gov Debelle Speaks
  • 10:30 AM GMT – (GBP) Retail Sales m/m
  • 02:00 PM GMT – (GBP) MPC Member Tenreyro Speaks
  • 02:30 PM GMT – (USD) Core Retail Sales m/m
  • 02:30 PM GMT – (USD) Retail Sales m/m
  • 02:30 PM GMT – (USD) Empire State Manufacturing Index
  • 02:30 PM GMT – (USD) Philly Fed Manufacturing Index
  • 04:00 PM GMT – (USD) FOMC Member Quarles Speaks
  • 05:00 PM GMT – (USD) Crude Oil Inventories
  • 05:30 PM GMT – (USD) Fed Chair Powell Speaks
  • 07:00 PM GMT – (USD) FOMC Member Bostic Speaks
  • 10:30 PM GMT – (NZD) Business NZ Manufacturing Index

Friday, November 16, 2018  

  • 09:30 AM GMT – (EUR) ECB President Draghi Speaks
  • 02:00 PM GMT – (EUR) German Buba President Weidmann Speaks
  • 02:30 PM GMT – (CAD) Foreign Securities Purchases
  • 02:30 PM GMT – (CAD) Manufacturing Sales m/m


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