Global Markets:
- Asian Stock Markets : Nikkei up 0.30%, Shanghai Composite up 0.16%, Hang Seng up 0.17% ASX up 0.8%
- Commodities : Gold at $3344.35 (0.39%), Silver at $38.38 (0.19%), Brent Oil at $68.80 (0.19%), WTI Oil at $66.8 (0.23%)
- Rates : US 10-year yield at 4.478, UK 10-year yield at 4.6380, Germany 10-year yield at 2.692
News & Data:
- (USD) Core PPI m/m 0.0% to 0.2% expected
- (USD) PPI m/m 0.0% to 0.2% expected
Markets Update:
Asian stock markets traded mostly lower on Thursday despite positive cues from Wall Street overnight. Investor reactions to the ongoing U.S. tariff tensions have softened, with growing expectations that trade deals will be reached ahead of the August 1 deadline. Adding to the optimism, U.S. producer prices came in flat for June, easing inflation concerns and supporting global sentiment. Still, caution lingered after reports revealed that U.S. President Donald Trump discussed possibly firing Federal Reserve Chair Jerome Powell, although he later denied any immediate plans to do so.
In Australia, the S&P/ASX 200 Index rebounded strongly, rising 0.75% to 8,625.60, recovering from losses in the previous session. Gains were led by financials and select tech stocks, with Block surging over 5%. Mining giants BHP and Rio Tinto climbed more than 1%, while Fortescue edged higher. Big banks, including Commonwealth Bank and Westpac, advanced over 1%. However, tech names like WiseTech and Appen saw losses. Oil stocks were mixed, and gold miners traded in a narrow range.
Japan’s Nikkei 225 Index slipped 0.15% to 39,602.58, pressured by declines in technology and auto stocks. Tokyo Electron fell nearly 3%, and Honda lost almost 1%, while SoftBank gained 2%. Exporters saw mixed movement, with Sony up nearly 2%, but Canon and Mitsubishi Electric down. Japan’s trade surplus in June came in at ¥153.1 billion, below forecasts, as exports dropped 0.5% year-on-year and imports edged up 0.2%.
Across the broader region, New Zealand and Indonesia rose over 1%, while markets in China, Hong Kong, and South Korea posted modest losses. On Wall Street, the major averages closed higher, with the Nasdaq reaching a record close. The Dow rose 0.5%, and the S&P 500 added 0.3%. Meanwhile, European markets ended slightly lower, and crude oil prices fell for the third straight session, with WTI settling at $65.38 after a rise in gasoline inventories.
Upcoming Events:
- 06:00 PM GMT – USD Core Retail sales m/m
- 06:00 PM GMT – USD Retail Sales m/m
- 06:00 PM GMT – USD Unemployment Claims
