{"id":25213,"date":"2018-02-21T11:46:45","date_gmt":"2018-02-21T06:16:45","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25213"},"modified":"2018-04-16T12:49:37","modified_gmt":"2018-04-16T07:19:37","slug":"wednesday-21st-february-asian-markets-disregard-weakness-on-wall-street","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-21st-february-asian-markets-disregard-weakness-on-wall-street\/","title":{"rendered":"Wednesday 21st February: Asian Markets disregard weakness on Wall Street"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian stock markets: Nikkei up 0.32%, Hang Seng up 1.25%, ASX up 0.05%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1329.5 (-0.12%), Silver at $16.380 (-0.35%), WTI Oil at $61.16 (-1.02%), Brent Oil at $64.72 (-0.81%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.888, UK 10-year yield at 1.579, German 10-year yield at 0.734<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong><span style=\"font-size:14px;\">&nbsp;&nbsp;<\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Wage Price Index q\/q 0.60% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Construction Work Done q\/q -19.40% vs -9.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) GDT Price Index -0.50% vs 5.90% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German ZEW Economic Sentiment 17.8 vs 16 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Walmart just saw $30 billion in market cap destroyed by Amazon fears<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">BOJ&#39;s Funo: No Need To Be Pessimistic On Economy Takes Time For Productivity To Improve<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets traded higher on Wednesday. While they opened in the red, following weakness on the Wall Street, they quickly reversed to trade in the green. Investors were seen to be factoring Japanese exporters, as the USD continues to gain against the yen.&nbsp; <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">ASX had a day of mixed earnings, with BHP&rsquo;s miss responsible for the subdued gains. Tech stocks have been leading from the front, both on Nikkei and Hang Seng.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">US Treasury yields edged higher to near 4 year highs, as there has been indication that government borrowing is set to increase. Deficits are expected to increase, following last year&rsquo;s tax overhaul, and the budget deal set to increase federal spending over the next two years. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The higher yields are feeding into market instability, as investors worry about a faster pace of rate hikes than originally believed. Market instability is most likely to persist until the Fed&rsquo;s policy meeting in March, when clarity on the same is expected.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Driven by higher yields, the US Dollar index bounced back 0.7% this week from last week&rsquo;s three year low. The stronger dollar has weighed in on commodities, with both Brent and WTI Crude losing more than half a percent. Gold is at a one-week trough, also under pressure by the rising bond yields. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Bitcoin continued to trade around 11000, up 86% from this month&rsquo;s lows.<\/span>\n<\/p>\n<h4>\n\t<strong style=\"font-size: 14px;\">Upcoming Events:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) French Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) French Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Claimant Count Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Public Sector Net Borrowing<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:15 PM GMT &#8211; (GBP) Inflation Report Hearings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Existing Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 PM GMT &#8211; (USD) FOMC Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 0.32%, Hang Seng up 1.25%, ASX up 0.05% Commodities: Gold at $1329.5 (-0.12%), Silver at $16.380 (-0.35%), WTI Oil at $61.16 (-1.02%), Brent Oil at $64.72 (-0.81%) Rates: US 10-year yield at 2.888, UK 10-year yield at 1.579, German 10-year yield at 0.734 News &amp; Data:&nbsp;&nbsp; (AUD) Wage &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-21st-february-asian-markets-disregard-weakness-on-wall-street\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 21st February: Asian Markets disregard weakness on Wall Street<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25201,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25213","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25213","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=25213"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25213\/revisions"}],"predecessor-version":[{"id":25215,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25213\/revisions\/25215"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25201"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25213"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25213"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25213"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}