Global Markets:
- Asian Stock Markets : Nikkei down 0.26%, Shanghai Composite up 2.64%, Hang Seng up 2.15%, ASX up 0.49%
- Commodities : Gold at $1931.20 (+0.26%), Silver at $25.43 (+1.28%), Brent Oil at $42.30 (-1.28%), WTI Oil at $40.05 (-1.35%)
- Rates : US 10-year yield at 0.779, UK 10-year yield at 0.276, Germany 10-year yield at -0.538
News & Data:
- (CAD) Unemployment Rate 9.00% vs 9.80% expected
- (CAD) Employment Change 378.2K vs 150.0K expected
- UK PM Johnson to impose further COVID-19 restrictions but anger rising
- Japan’s producer prices log first drop in 4 months
Markets Update:
Asian stock markets are mostly higher on Monday following the positive cues from Wall Street Friday amid continued optimism about a new U.S. stimulus bill after President Donald Trump suggested he was once again in favor of a broad relief package. Investors also digested news that the People’s Bank of China has changed a rule that now makes it cheaper to short the yuan following the currency’s recent sharp gains.
Hong Kong’s Hang Seng index also surged more than 2.1%. Mainland Chinese stocks were among the biggest gainers regionally, with the Shanghai composite up 2.6% while the Shenzhen component jumped 3.2%. shares in Australia were higher on the day, with the S&P/ASX 200 up 0.5%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 93.025 following a recent slide from levels above 93.3. In commodity markets, oil prices were back under pressure after the resolution of an oil workers strike in Norway and the resumption of production after a storm in the Gulf of Mexico.
Upcoming Events:
Monday, October 12, 2020
- 04:00 PM GMT – (GBP) BOE Gov Bailey Speaks
Tuesday, October 13, 2020
- 06:00 AM GMT – (GBP) Claimant Count Change
- 12:30 PM GMT – (USD) CPI m/m
- 12:30 PM GMT – (USD) Core CPI m/m
Wednesday, October 14, 2020
- 12:30 PM GMT – (USD) Core PPI m/m
- 12:30 PM GMT – (USD) PPI m/m
- 09:45 PM GMT – (AUD) RBA Gov Lowe Speaks
Thursday, October 15, 2020
- 12:30 AM GMT – (AUD) Employment Change
- 12:30 AM GMT – (AUD) Unemployment Rate
- 12:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 12:30 PM GMT – (USD) Unemployment Claims
Friday, October 16, 2020
- 12:30 PM GMT – (USD) Core Retail Sales m/m
- 12:30 PM GMT – (USD) Retail Sales m/m
- 02:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
