Market Talk - Wednesday, May 5

ASIA:

U.S. Trade Representative Katherine Tai said on Wednesday she expects to engage “in the near term” with Chinese officials to assess their implementation of the “Phase 1” trade deal between the two countries, with the outcome to influence the fate of Washington’s punitive tariffs on Beijing. Tai told that she respects the need for continuity in U.S.-China trade policy, including the two-year trade deal implemented last year by the Trump administration.

India’s oil imports in March rose from the previous month, buoyed by an upturn in economic activity that could take a knock again because of renewed lockdowns in the world’s third-largest crude importer. Crude imports rose 7.3% from February to 18.26 million tonnes, data on the website of the Petroleum Planning and Analysis Cell (PPAC) showed, although imports were still down about 6.5% year on year. India’s annual crude imports fell nearly 13% in the fiscal year 2020/21 to 198.11 million tonnes, its lowest in six years as refiners cut crude processing as COVID-19 destroyed fuel demand, data compiled by Reuters showed.

The major Asian stock markets had a mixed day today:

  • NIKKEI 225 closed
  • Shanghai closed
  • Hang Seng decreased 139.16 points or -0.49% to 28,417.98
  • ASX 200 increased 27.90 points or 0.39% to 7,095.80
  • Kospi closed
  • SENSEX increased 424.04 points or 0.88% to 48,677.55
  • Nifty50 increased 121.35 points or 0.84% to 14,617.85

The major Asian currency markets had a mixed day today:

  • AUDUSD increased 0.00394 or 0.51% to 0.77515
  • NZDUSD increased 0.0051 or 0.71% to 0.72123
  • USDJPY decreased 0.12 or -0.11% to 109.20
  • USDCNY decreased 0.00002 or 0.00% to 6.48318

Precious Metals:

  • Gold increased 5.20 USD/t oz. or 0.29% to 1,783.68
  • Silver decreased 0.05 USD/t. oz or -0.19% to 26.480

Some economic news from last night:

Hong Kong:

Manufacturing PMI (Apr) decreased from 50.5 to 50.3

Australia:

Building Approvals (MoM) (Mar) decreased from 20.1% to 17.4%

Private House Approvals (Mar) decreased from 15.1% to 0.1%

AIG Construction Index (Apr) decreased from 61.8 to 59.1

Services PMI increased from 55.5 to 58.8

New Zealand:

GlobalDairyTrade Price Index decreased from -0.1% to -0.7%

Employment Change (QoQ) (Q1) remain the same at 0.6%

Labor Cost Index (YoY) (Q1) increased from 1.5% to 1.6%

1 2 3 4
View single page >> |

Disclosure: None.

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.