Global Markets:
- Asian Stock Markets : Nikkei down 0.38%, Shanghai Composite up 0.63%, Hang Seng up 0.21%, ASX down 1.12%
- Commodities : Gold at $1956.60 (+0.11%), Silver at $27.78 (+0.50%), Brent Oil at $54.07 (+0.88%), WTI Oil at $50.09 (+0.32%)
- Rates : US 10-year yield at 1.005, UK 10-year yield at 0.246, Germany 10-year yield at -0.549
News & Data:
- (USD) Wards Total Vehicle Sales 16.3M vs 15.8M expected
- (USD) ISM Manufacturing Prices 77.6 vs 66 expected
- (USD) ISM Manufacturing PMI 60.7 vs 56.6 expected
- (NZD) GDT Price Index 3.90% vs 1.30% previous
- (CAD) RMPI m/m 0.60% vs 0.90% expected
- (CAD) IPPI m/m -0.60% vs -0.20% expected
- Spain: slowest fall in activity for five months
Markets Update:
Asian stock markets are mostly lower on Wednesday despite the positive cues overnight from Wall Street. Investors remained cautious as they awaited the results of two key Senate runoffs in Georgia.
The elections will determine how much U.S. President-elect Joe Biden can push through Democrats’ agenda, including rewriting the tax code as well as boosting stimulus and infrastructure spending.
In Japan, the Nikkei 225 declined 0.4% while the Topix index finished its trading day 0.3% higher. In mainland China, the Shanghai composite was up 0.6% while the Shenzhen component gained 0.3%. Hong Kong’s Hang Seng index edged 0.21% higher. Stocks in Australia slipped, with the S&P/ASX 200 down 1.1%.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 89.276 as it continues to languish below the 90 level. Crude oil futures ended sharply higher on Tuesday, lifted by an announcement from Saudi Arabia that it will cut crude production by 1 million barrel per day from February through March.
Upcoming Events:
- 06:45 PM GMT – (USD) ADP Non-Farm Employment Change
- 07:30 PM GMT – (GBP) BOE Gov Bailey Speaks
