Wednesday 1st May: Muted trading as most Asian markets closed

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Wednesday 1st May: Muted trading as most Asian markets closed 1

Global Markets:

  • Asian Stock Markets : Nikkei down 0.22%, Shanghai Composite up 0.52%, Hang Seng down 0.65%, ASX up 0.80%
  • Commodities : Gold at $1280.55 (-0.40%), Silver at $14.90 (-0.55%), Brent Oil at $71.53 (-0.74%), WTI Oil at $63.26 (-1.02%)
  • Rates : US 10-year yield at 2.505, UK 10-year yield at 1.173, Germany 10-year yield at 0.013

News & Data:

  • (NZD) Unemployment Rate 4.20% vs 4.20% expected
  • (NZD) Employment Change q/q -0.20% vs 0.50% expected
  • (USD) CB Consumer Confidence 129.2 vs 126.2 expected
  • (USD) Chicago PMI 52.6 vs 59.1 expected
  • (USD) Employment Cost Index q/q 0.70% vs 0.70% expected
  • (CAD) RMPI m/m 2.80% vs 3.00% previous
  • (CAD) GDP m/m -0.10% vs 0.30% previous
  • (EUR) Prelim Flash GDP q/q 0.40% vs 0.30% expected
  • (EUR) German Prelim CPI m/m 1.00% vs 0.50% expected
  • (EUR) Spanish Flash GDP q/q 0.70% vs 0.60% expected

Markets Update:

Stocks in Australia advanced on Wednesday as most major Asian markets remained closed for the Labor Day holiday. The ASX 200 gained 0.8% to close at 6,375.90 as the heavily weighted financial subindex Down Under added more than 1.4%. Shares of Australia’s so-called Big Four banks rose.

Investors continue to watch out for developments on the U.S.-China trade front. White House Chief of Staff Mick Mulvaney said Tuesday that the Trump administration’s trade talks with China will be resolved within the next two weeks.

The U.S. Federal Reserve is also set to announce its monetary policy decision later on Wednesday stateside. Fed watchers will be closely monitoring if the central bank changes its dovish tone and how it plans to proceed with its balance sheet reduction program.

Oil prices declined in the afternoon of Asian trading hours, with the international benchmark Brent crude futures contract slipping 0.7%

Upcoming Events:

  • 09:30 AM GMT – (GBP) Manufacturing PMI
  • 09:30 AM GMT – (GBP) Net Lending to Individuals m/m
  • 01:15 PM GMT – (USD) ADP Non-Farm Employment Change
  • 03:00 PM GMT – (USD) ISM Manufacturing PMI
  • 07:00 PM GMT – (USD) FOMC Statement
  • 07:00 PM GMT – (USD) Federal Funds Rate
  • 07:30 PM GMT – (USD) FOMC Press Conference
  • 09:15 PM GMT – (CAD) BOC Gov Poloz Speaks
  • &more…

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