Global Markets:
- Asian Stock Markets : Nikkei down 0.90%, Shanghai Composite up 1.11%, Hang Seng down 0.67% ASX down 0.43%
- Commodities : Gold at $2373.5 (0.06%), Silver at $28.57 (0.72%), Brent Oil at $90.13 (-0.38%), WTI Oil at $85.17 (-0.38%)
- Rates : US 10-year yield at 4.55, UK 10-year yield at 4.16, Germany 10-year yield at 2.36
News & Data:
- (USD) Import Prices m/m 0.4% vs 0.3% expected
- (USD) Prelim UoM Consumer Sentiment 77.9 vs 79.0 expected
Markets Update:
Asian-Pacific markets slipped on Monday as traders assessed the fallout from Iran’s extensive drone and missile attacks on Israel over the weekend. President Joe Biden labelled the assault as “unprecedented,” prompting U.S. intervention to help intercept most of the incoming projectiles. Oil prices remained stable, with Brent crude futures down 0.14% at $90.32 per barrel and U.S. West Texas Intermediate futures 0.32% lower at $85.39.
Investors also awaited key economic data from China and Japan later in the week. India was set to release wholesale inflation figures for March, while China would announce first quarter GDP numbers on Tuesday. Japan would follow with March trade data and inflation figures on Wednesday and Friday, respectively.
Market movements reflected caution, with Japan’s Nikkei 225 declining 1.27% and South Korea’s Kospi sliding 1.19%. Australia’s S&P/ASX 200 saw a more modest decline of 0.67%. In contrast, Hong Kong’s Hang Seng index fell 1.5%, while mainland China’s CSI300 index gained nearly 1%.
U.S. stock futures saw a slight uptick on Sunday as investors digested the geopolitical tensions and heightened market volatility following last week’s substantial downturn. Dow Jones Industrial Average futures rose by 90 points, or 0.2%, while S&P 500 futures and Nasdaq-100 futures increased by 0.2% and 0.3%, respectively.
Upcoming Events:
- 12:30 PM GMT – USD Core Retail Sales m/m
- 12:30 PM GMT – USD Retail Sales m/m
