Thursday 14th January: Asian markets shrug off Trump impeachment

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Global Markets:

  • Asian Stock Markets : Nikkei up 0.85%, Shanghai Composite down 0.91%, Hang Seng up 0.90%, ASX up 0.43%
  • Commodities : Gold at $1837.00 (-0.97%), Silver at $25.18 (-1.55%), Brent Oil at $56.17 (+0.20%), WTI Oil at $53.09 (+0.34%)
  • Rates : US 10-year yield at 1.109, UK 10-year yield at 0.306, Germany 10-year yield at -0.528

News & Data:

  • (CNY) Trade Balance 517B vs 466B expected
  • (CNY) USD-Denominated Trade Balance 78.2B vs 72.0B expected
  • (GBP) RICS House Price Balance 65.00% vs 61.00% expected
  • (JPY) PPI y/y -2.00% vs -2.20% expected
  • (JPY) Core Machinery Orders m/m 1.50% vs -6.40% expected
  • (NZD) Building Consents m/m 1.20% vs 8.90% previous
  • (USD) Federal Budget Balance -143.6B vs -144.5B expected
  • (USD) 30-y Bond Auction 1.83|2.5 vs 1.67|2.5 previous
  • (USD) Crude Oil Inventories -3.2M vs -3.2M expected

Markets Update:

Asian stock markets are mostly higher on Thursday with modest gains following the mostly positive cues overnight from Wall Street amid expectations of additional U.S. stimulus from the incoming Biden administration. Investors shrugged off news that the U.S. House has impeached President Donald Trump for a second time.

Mainland Chinese stocks declined on the day: The Shanghai composite shed 0.9% while the Shenzhen component dropped 1.9%. Hong Kong’s Hang Seng index advanced 0.7%, as of its final hour of trading. In Japan, the Nikkei 225 rose 0.9% while the Topix index edged 0.5% higher. Over in Australia, the S&P/ASX 200 gained 0.4%.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 90.439 after rising earlier from levels below 90. Gold, which pays no interest, has suffered as U.S. yields have climbed.

Upcoming Events:

  • 12:30 PM GMT – (EUR) ECB Monetary Policy Meeting Accounts
  • 01:30 PM GMT – (USD) Import Prices m/m
  • 01:30 PM GMT – (USD) Unemployment Claims
  • 02:30 PM GMT – (GBP) CB Leading Index m/m
  • 03:30 PM GMT – (USD) Natural Gas Storage
  • 05:30 PM GMT – (USD) Fed Chair Powell Speaks
  • 09:45 PM GMT – (NZD) FPI m/m