Asia Morning Nov 19
Market sentiment is dampened by New York City's decision to close public school indefinitely...
Share this:
What mattered last week:
- In a holiday-shortened week, the S&P500 climbed 1.45% to fresh all-time highs.
- The Brexit deal between the EU and the UK was signed off on.
- President Donald Trump signed off on another round of fiscal stimulus.
- Despite rising COVID19 cases in the UK the US.
- Volatility, as measured by the VIX index closed slightly higher at 22.8.
- U.S. 10-year yields closed flat near 0.92%.
- Gold rallied 1% to close near $1898.00.
- Crude oil rose 0.60% to close $48.52/bbl.
- The ASX200 fell 1.17% to 6587.1 as new COVID19 cases rose in both Sydney and Melbourne.
- In FX, the AUDUSD rose 1.33% to close near .7690, on the back of broad-based USD weakness.
For the week ahead, the key events are:
Australia: Balance of trade, building approvals (Thursday).
New Zealand: Global dairy trade auction (Tuesday).
China: Caixin manufacturing PMI (Monday), Caixin services, and composite PMI (Wednesday), foreign exchange reserves (Thursday).
Japan: Consumer confidence (Wednesday), leading economic index (Friday).
U.S: ISM manufacturing PMI (Tuesday), factory orders (Wednesday), FOMC meeting minutes, and ISM non-manufacturing PMI ((Thursday), non-farm payrolls (Friday).
- Non-farm payrolls (Friday): Non-Farm payrolls are expected to rise by 100k in December and the unemployment rate to rise slightly from 6.7% to 6.8%.
NB: Georgia Senate elections will be held on the 6th of January (Sydney time) and the Electoral Congress votes to confirm the US election result on the 7th of January (Sydney time).
Canada: Markit manufacturing PMI (Tuesday), balance of trade, and Ivey PMI (Thursday), employment (Friday).
Euro Area: German retail sales and employment (Tuesday), German inflation and EA inflation and retail sales (Thursday), German industrial production and EA employment (Friday).
UK: Halifax housing prices (Friday).
Related tags:
Latest market news
Open an account in minutes
Experience award-winning platforms with fast and secure execution, and enjoy tight spreads from 0.5 pts on FX and 0.3 pts on indices.
Economic calendar
Web Trader platform
Our sophisticated web-based platform is packed with features.
Related articles
S&P 500 forecast: Stocks extend drop as correction risks grow
US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.
WTI Crude Oil Mulls Bounce from $90
Having fallen 17% from its cycle highs in just five days and now holding above $90, perhaps it could be time for crude oil to bounce over the near term.
ASX 200 Rebound Stalls Despite Wall Street Surge
The ASX 200 rebound is struggling for traction despite a powerful Wall Street rally, leaving 8800 resistance and downside risks in focus.
This report is intended for general circulation only. It should not be construed as a recommendation, or an offer (or solicitation of an offer) to buy or sell any financial products. The information provided does not take into account your specific investment objectives, financial situation or particular needs. Before you act on any recommendation that may be contained in this report, independent advice ought to be sought from a financial adviser regarding the suitability of the investment product, taking into account your specific investment objectives, financial situation or particular needs.
StoneX Financial Pte. Ltd., may distribute reports produced by its respective foreign entities or affiliates within the StoneX group of companies or third parties pursuant to an arrangement under Regulation 32C of the Financial Advisers Regulations. Where the report is distributed to a person in Singapore who is not an accredited investor, expert investor or an institutional investor (as defined in the Securities Futures Act), StoneX Financial Pte. Ltd. accepts legal responsibility to such persons for the contents of the report only to the extent required by law. Singapore recipients should contact StoneX Financial Pte. Ltd. at 6826 9988 for matters arising from, or in connection with the report.
In the case of all other recipients of this report, to the extent permitted by applicable laws and regulations neither StoneX Financial Pte. Ltd. nor its associated companies will be responsible or liable for any loss or damage incurred arising out of, or in connection with, any use of the information contained in this report and all such liability is hereby expressly disclaimed. No representation or warranty is made, express or implied, that the content of this report is complete or accurate.
StoneX Financial Pte. Ltd. is not under any obligation to update this report.
Trading CFDs carries a high level of risk that may not be suitable for some investors. Consider your investment objectives, level of experience, financial resources, risk appetite and other relevant circumstances carefully. The possibility exists that you could lose some or all of your investments, including your initial deposits. If in doubt, please seek independent expert advice. Visit www.forex.com/en-sg/terms-and-policies for the complete Risk Disclosure Statement.