Wednesday 18th November: US retail sales numbers prove and dampner.

IC Markets No Comments

Global Markets:

  • Asian Stock Markets : Nikkei down 1.03%, Shanghai Composite down 0.10%, Hang Seng up 0.15%, ASX up 0.51%
  • Commodities : Gold at $1876.70 (-0.45%), Silver at $24.51 (-0.56%), Brent Oil at $43.74 (-0.02%), WTI Oil at $41.34 (-0.22%)
  • Rates : US 10-year yield at 0.846, UK 10-year yield at 0.327, Germany 10-year yield at -0.565

News & Data:

  • (USD) Core Retail Sales m/m 0.20% vs 0.60% expected
  • (USD) Retail Sales m/m 0.30% vs 0.50% expected
  • RBNZ Accidentally Leaked New Stimulus to Financial Firms Early
  • Trump fires top cybersecurity official who defended election’s integrity

Markets Update:

Asian stock markets are mixed on Wednesday with investors turning cautious following the negative cues from Wall Street amid a surge in U.S. coronavirus cases and disappointing retail sales. Optimism over potential COVID-19 vaccines was offset by worries about the continued surge in coronavirus cases worldwide.

In Japan, the Nikkei 225 fell 1%, while the Topix dropped 0.7% even as Japanese exports in October did much better than expected, falling 0.2%, according to the Ministry of Finance. China’s Shanghai composite gave up initial gains to trade lower by 0.1%, while the Shenzhen component was down 0.7%. Australia’s S&P/ASX 200 rose 0.5%.

The U.S. dollar index, which tracks the greenback against a basket of its peers, continued its slide from earlier this week. It was at 92.427, following levels above 92.6 earlier. Oil prices eased on a bigger-than-expected build in U.S. crude stockpiles, though hopes that OPEC and its allies will postpone a planned January increase to oil output braked losses.

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