Most Asian equity markets recouped their losses from the previous session as they shrugged off the weaker close on Wall Street. The exception was the Shangai Comp which finished down but well off the lows (Nikkei +1.63%, Hang Seng +0.60%, Shanghai Comp -0.12% & S&P/ASX +0.16%). Bond markets also traded inversely to the previous session with most markets drifting lower throughout the day. US 10yrs are currently around 3 lower with around 80k contracts changing hands. Aussie Bonds and JGB's also drifted lower throughout the session, however a late rally and decent performance during the US/European session saw JGB's finishing around 5 higher on the day. The US$ traded higher making gains vs both the Yen & Euro, however the AUD$ outpeformed after the Unemployment rate dropped to 5.4% from 5.5%, the lowest since Feb 2013. A tweet from Trump may have assisted some of the moves after he said "Big vote tomorrow in the House. Tax cuts are getting close!" This was also backed up by a sources story which suggested the House had enough votes to pass its tax bill. Elsewhere Oil reclaimed some of its recent losses and Gold traded lower on the back of the Dollar gains.
Key Headlines:
-Japan Housing Loans Y/Y (Q3) +2.9%, previous +3.3%
-New Zealand ANZ Consumer Confidence (Nov) 123.7, previous 126.3
-Australia Consumer Inflation Expectations (Nov) +3.7%, previous +4.3%
-Australia Employment Report, Employment Change +3.7k vs +18.8k exp, pvs +19.8k. Unemployment Rate +5.4% vs +5.5% exp, pvs +5.5%. Full Time Employment Change +24.3k, prvs +6.1k. Part-Time Employment Change -20.7k, prvs +13.7k Participation Rate 65.1% vs +65.2% exp, pvs +65.2%
-The PBoC set the yuan mid-point at 6.6286 against the Dollar
-The PBoC injected 160 Bln yuan via 7-day reverse repos and 140 Bln yuan via 14-day reverse repos
No comments:
Post a Comment