Global Markets:
- Asian Stock Markets : Nikkei up 2.13%, Shanghai Composite up 0.93%, Hang Seng up 0.75% ASX up 0.04%
- Commodities : Gold at $2039.5 (0.04%), Silver at $22.97 (0.52%), Brent Oil at $83.35 (0.36%), WTI Oil at $78.27 (0.36%)
- Rates : US 10-year yield at 4.302, UK 10-year yield at 4.138, Germany 10-year yield at 2.449
News & Data:
- (CAD) NHPI m/m -0.1% vs 0.1% expected
Markets Update:
Japan’s Nikkei 225 reached a record high of 39,029, defying disappointing business activity data in the country. Investors overlooked the contraction revealed in Japan’s Jibun Bank flash purchasing managers’ index for February. The index surpassed the previous 1989 record of 38,915.87, with the Nikkei 225 registering a 1.65% increase.
In Australia, the S&P/ASX 200 remained near the flatline, following the Judo Bank composite purchasing managers’ index for February, indicating a return to growth at 51.8. The Kospi in South Korea showed a 0.44% uptick, and the Bank of Korea was expected to maintain rates at 3.50%.
Hong Kong’s Hang Seng index opened 0.15% higher, and China’s CSI 300 added 0.28%. In the U.S., the Dow Jones Industrial Average increased by 48.44 points (0.13%), closing at 38,612.24, while the S&P 500 gained 0.13%, concluding at 4,981.80. Conversely, the Nasdaq Composite saw a 0.32% decline, settling at 15,580.87.
Minutes from the Federal Reserve’s January meeting, released on Wednesday, suggested that central bankers are not in a hurry to implement interest rate cuts, despite stronger-than-expected economic data the previous week.
Upcoming Events:
- 1:30 PM GMT – CAD Core Retail Sales m/m
- 1:30 PM GMT – CAD Retail Sales m/m
- 1:30 PM GMT – USD Unemployment Claims
- 2:45 PM GMT – USD Flash Manufacturing PMI
- 2:45 PM GMT – USD Flash Services PMI
