{"id":25297,"date":"2018-02-27T12:08:27","date_gmt":"2018-02-27T06:38:27","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25297"},"modified":"2018-02-27T12:08:27","modified_gmt":"2018-02-27T06:38:27","slug":"tuesday-27th-february-asian-markets-extend-gains-all-eyes-on-powell","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-27th-february-asian-markets-extend-gains-all-eyes-on-powell\/","title":{"rendered":"Tuesday 27th February: Asian markets extend gains, all eyes on Powell"},"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 1.04%, Shanghai Composite down 1.15%, Hang Seng down 0.53%, ASX up 0.24%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1334.80 (+0.15%), Silver at $16.590 (+0.14%), WTI Oil at $63.88 (-0.05%), Brent Oil at $67.25 (-0.06%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.857, UK 10-year yield at 1.505, German 10-year yield at 0.657<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:&nbsp;&nbsp;<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Trade Balance -566M vs -2710M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) New Home Sales 593K vs 655K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) High Street Lending 40.1K vs 37.2K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Telltale signs of recession absent as U.S. economic expansion closes in on record<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Credit Suisse thinks the RBA&#39;s optimism is creating a problem for the Australian economy<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">PBOC set the Yuan reference rate at 6.3146<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets extended their recovery on Tuesday, following gains on Wall Street overnight. Global equities continued to reverse this month&rsquo;s major losses. Chinese large caps dragged down the Shanghai Composite and the Hang Seng, with markets slowly reacting to the news of the Communist Party planning to remove term limits on the country&rsquo;s presidency.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Nikkei is supported by the yen, which has retreated from highs against the dollar. While there was speculation that the BoJ would take a more hawkish stance in the second half of 2018, Kudroa&rsquo;s re-appointment and the bank&rsquo;s statements for continued easing has &lsquo;eased&rsquo; those concerns. ASX continues to gain, backed by miners whose fortunes have been driven by the rising iron-ore prices. The ASX has now completely erased its February declines.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">US borrowing costs eased ahead of Fed Chairman Powell&rsquo;s first congressional testimony today, also improving investor sentiment. However, it is speculated that he may use the opportunity to hint that a further rate increase is coming at next month&rsquo;s meeting.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The recent pickup in markets have been aided by a pause in the rising bond yield, although Feds fund rate futures have almost fully priced in a rate hike in March.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil prices held firm at three-week highs, supported by strong U.S. demand and comments from Saudi Arabia that it would continue to curb production in line with OPEC-led efforts.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) Spanish Flash CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) M3 Money Supply y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Durable Goods Orders m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) CB Consumer Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &#8211; (EUR) German Prelim CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei up 1.04%, Shanghai Composite down 1.15%, Hang Seng down 0.53%, ASX up 0.24% Commodities: Gold at $1334.80 (+0.15%), Silver at $16.590 (+0.14%), WTI Oil at $63.88 (-0.05%), Brent Oil at $67.25 (-0.06%) Rates: US 10-year yield at 2.857, UK 10-year yield at 1.505, German 10-year yield at 0.657 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-27th-february-asian-markets-extend-gains-all-eyes-on-powell\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 27th February: Asian markets extend gains, all eyes on Powell<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25257,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25297","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\/25297","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=25297"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25297\/revisions"}],"predecessor-version":[{"id":25298,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25297\/revisions\/25298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25257"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}