Global Markets:
- Asian Stock Markets : Nikkei up 2.09%, Shanghai Composite down 0.97%, Hang Seng down 1.18%, ASX up 2.19%
- Commodities : Gold at $1796.50 (+0.19%), Silver at $22.67 (-0.02%), Brent Oil at $88.62 (+0.51%), WTI Oil at $87.14 (+0.61%)
- Rates : US 10-year yield at 1.828, UK 10-year yield at 1.217, Germany 10-year yield at -0.053
News & Data:
- (USD) Pending Home Sales m/m -3.80% vs -0.90% expected
- (USD) Unemployment Claims 260K vs 260K expected
- (USD) Durable Goods Orders m/m -0.90% vs -0.60% expected
- (USD) Core Durable Goods Orders m/m 0.40% vs 0.40% expected
- (USD) Advance GDP Price Index q/q 6.90% vs 6.00% expected
- (USD) Advance GDP q/q 6.90% vs 5.30% expected
Markets Update:
Asian stock markets are trading mostly higher on Friday, despite the broadly negative cues overnight from Wall Street, as traders weighed upbeat fourth quarter US GDP data against the prospect of higher interest rates. Traders also picked up stocks at a bargain following the recent sell-off, particularly in technology stocks.
The Australian stock market is sharply higher after giving up some of the initial sharp gains in choppy trading on Friday, recouping some of the sharp losses in the previous four sessions, with the benchmark S&P/ASX 200 staying below the 6,900 level. The Japanese stock market is trading sharply higher on Friday, snapping a losing streak of five sessions, with the benchmark Nikkei 225 gaining more than 500 points to move above the 26,700 level. Mainland Chinese markets inched up: the Shanghai Composite was marginally higher, while the Shenzhen Component rose 0.5%.Â
The U.S. dollar index, which tracks the greenback against a basket of its peers, last traded at 97.163, down from 97.225 earlier. Oil prices pulled back from seven-year highs this week, but remain elevated over fears that energy supplies in Europe from Russia could be disrupted.
Upcoming Events:
- 08:00 AM GMT – (CHF) KOF Economic Barometer
- 01:30 PM GMT – (USD) Core PCE Price Index m/m
- 03:00 PM GMT – (USD) Revised UoM Consumer Sentiment
