Global Markets:
- Asian Stock Markets : Nikkei up 0.60%, Shanghai Composite up 2.36%, Hang Seng up 1.34%, ASX up 0.00%
- Commodities : Gold at $1736.60 (+0.86%), Silver at $26.52 (+1.49%), Brent Oil at $68.39 (+0.72%), WTI Oil at $64.98 (+0.84%)
- Rates : US 10-year yield at 1.502, UK 10-year yield at 0.698, Germany 10-year yield at -0.331
News & Data:
- (USD) 10-y Bond Auction 1.52|2.4 vs 1.16|2.4 previous
- (USD) Crude Oil Inventories 13.8M vs 3.0M expected
- (CAD) Overnight Rate 0.25% vs 0.25% expected
- (USD) Core CPI m/m 0.10% vs 0.20% expected
- (USD) CPI m/m 0.40% vs 0.40% expected
- Canada Housing May Be in a History-Making Bubble, Rosenberg Says
- Japan’s wholesale price falls narrow in Feb. as pandemic impact eases
Markets Update:
Asian stock markets are mostly higher on Thursday, following positive cues overnight from Wall Street. Investors are largely upbeat about a global economic recovery after the landmark $1.9 trillion coronavirus relief package was passed by the U.S. House of Representatives, awaiting Joe Biden’s final approval. Technology stocks are taking a hit following recent sharp gains.
The Nikkei 225 in Japan rose 0.6%, while the Topix index added 0.3%,. The Japanese market in recent sessions had struggled to hold onto gains. In South Korea, the Kospi rose 1.9%. Hong Kong’s Hang Seng Index added 1.5% in late-afternoon trade.
Chinese mainland shares also rose Thursday after struggling in recent sessions as authorities in Beijing set a relatively low GDP target and signaled a shift away from measures designed to keep the economy afloat. The Shanghai composite rose 2.4% while the Shenzhen component added 2.2%.
Oil prices resumed their climb following two days of declines, after the Energy Information Administration reported a bigger-than-expected storage build. The U.S. Labor Department said its consumer price index rose 0.4% in February, in line with expectations, after a 0.3% increase in January. Core CPI, which excludes volatile food and energy components, edged up 0.1%, just shy of the 0.2% estimate.
Upcoming Events:
- 12:45 PM GMT – (EUR) Monetary Policy Statement
- 12:45 PM GMT – (EUR) Main Refinancing Rate
- 01:30 PM GMT – (EUR) ECB Press Conference
