Global Markets:
- Asian Stock Markets : Nikkei up 0.45%, Shanghai Composite down 0.34%, Hang Seng up 0.12%, ASX up 0.25%
- Commodities : Gold at $1791.18 (-0.94%), Silver at $20.91 (-0.44%), Brent Oil at $109.87 (-1.51%), WTI Oil at $107.25 (-1.27%)
- Rates : US 10-year yield at 2.926, UK 10-year yield at 1.774, Germany 10-year yield at 0.981
News & Data:
- (CNY) Retail Sales y/y -11.10% vs -6.20% expected
- (JPY) PPI y/y 10.00% vs 9.40% expected
- (NZD) BusinessNZ Services Index 51.4 vs 51.5 previous
- (USD) Prelim UoM Inflation Expectations 5.40% vs 5.40% previous
- (USD) Prelim UoM Consumer Sentiment 59.1 vs 64.1 expected
- (USD) Import Prices m/m 0.00% vs 0.60% expected
- (EUR) Industrial Production m/m -1.80% vs -2.10% expected
Markets Update:
Asian stock markets are mixed on Monday in thin holiday trading, following the broadly positive cues from Wall Street on Friday, as traders picked up stocks at a bargain after last week’s sell off amid cautious trading. Traders continue to be concerned about persistent inflation, looming interest rate hikes, Ukraine war and the COVID-19 lockdowns in China.
The Hang Seng index saw volatile swings on Monday, wavering between gains and losses. It was up 0.1% in afternoon trade. Mainland Chinese stocks were lower, with the Shanghai Composite down 0.3% and the Shenzhen Component fell 0.5%. Elsewhere in Asia, Japan’s Nikkei 225 gained 0.5%, while the Topix was last below the flatline. The Kospi in South Korea fell 0.1%, and the Kosdaq was 0.5% higher.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 104.603. Crude oil prices rose sharply Friday, lifting the most active crude futures contracts on fears of supply shortage.
Upcoming Events:
Monday, May 16, 2022
- 02:00 AM GMT – (CNY) Retail Sales y/y
- 9:00 AM GMT – (EUR) EU Economic Forecasts
- 12:30 PM GMT – (USD) Empire State Manufacturing Index
- 02:15 PM GMT – (GBP) Monetary Policy Report Hearings
Tuesday, May 17, 2022
- 01:30 AM GMT – (AUD) Monetary Policy Meeting Minutes
- 12:00 PM GMT – (USD) FOMC Member Bullard Speaks
- 12:30 PM GMT – (USD) Core Retail Sales m/m
- 12:30 PM GMT – (USD) Retail Sales m/m
- 06:00 PM GMT – (USD) Fed Chair Powell Speaks
- 06:30 PM GMT – (USD) FOMC Member Mester Speaks
Wednesday, May 18, 2022
- 01:30 AM GMT – (AUD) Wage Price Index q/q
- 06:00 AM GMT – (GBP) CPI y/y
- 12:30 PM GMT – (CAD) CPI m/m
- 12:30 PM GMT – (CAD) Common CPI y/y
- 12:30 PM GMT – (CAD) Median CPI y/y
- 12:30 PM GMT – (CAD) Trimmed CPI y/y
Thursday, May 19, 2022
- 01:30 AM GMT – (AUD) Employment Change
- 01:30 AM GMT – (AUD) Unemployment Rate
- 02:00 AM GMT – (NZD) Annual Budget Release
- 12:30 PM GMT – (USD) Philly Fed Manufacturing Index
- 12:30 PM GMT – (USD) Unemployment Claims
- 02:00 PM GMT – (USD) Existing Home Sales
Friday, May 20, 2022
- 06:00 AM GMT – (GBP) Retail Sales m/m
- 07:30 AM GMT – (GBP) MPC Member Pill Speaks