Global Markets:
- Asian Stock Markets : Nikkei up 1.57%, Shanghai Composite up 0.22%, Hang Seng up 0.30% ASX down -0.34%
- Commodities : Gold at $3,624.42 (-0.79%), Silver at $41.203 (-0.84%), Brent Oil at $66.29 (1.21%), WTI Oil at $62.62 (1.22%)
- Rates : US 10-year yield at 4.096, UK 10-year yield at 4.6480, Germany 10-year yield at 2.6582
News & Data:
- (USD) Non-Farm Employment Change 22K to 75K expected
- (USD) Unemployment Rate 4.3% to 4.3% expected
- (CAD) Unemployment Rate 7.1% to 7.0% expected
- (CAD) Employment Change -65.5K to 4.9K expected
Markets Update:
Asian stock markets opened mostly higher on Monday, shrugging off Wall Street’s weak finish Friday after softer-than-expected U.S. jobs data boosted hopes for a Federal Reserve rate cut in September. Regional currencies also strengthened against a weaker dollar. The CME FedWatch tool indicates a 90% chance of a 25-basis-point cut, with slim odds of a half-point move. Investors await U.S. consumer and producer inflation reports later this week.
In Australia, the S&P/ASX 200 slipped 34.00 points or 0.38% to 8,837.20, dragged by energy and financial stocks, though mining gains limited losses. Rio Tinto rose nearly 2%, BHP edged higher, and Mineral Resources advanced 2.5%. Woodside Energy dropped over 3%, while banks declined around 1% each. Mayne Pharma tumbled 13% on regulatory takeover concerns, while 4DMedical surged 28% after new agreements.
Japan’s Nikkei 225 surged 611.79 points or 1.42% to 43,630.54, supported by strong GDP data showing 0.5% quarterly growth and 2.2% annualized expansion. Tech stocks like Advantest, Tokyo Electron, and Screen Holdings gained sharply, while financials lagged. Exporters such as Sony climbed over 3%.
Elsewhere, Hong Kong, South Korea, Malaysia, Indonesia, Taiwan, and New Zealand rose modestly, while China and Singapore edged lower.
On Wall Street, the Dow shed 0.5%, the S&P 500 fell 0.3%, and the Nasdaq
Upcoming Events:
- 07:00 PM GMT – USD Consumer Credit m/m
