{"id":25334,"date":"2018-03-01T12:20:02","date_gmt":"2018-03-01T06:50:02","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25334"},"modified":"2018-03-01T12:51:42","modified_gmt":"2018-03-01T07:21:42","slug":"thursday-1st-march-dollar-gains-wall-street-records-worst-month-in-more-than-an-year","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-1st-march-dollar-gains-wall-street-records-worst-month-in-more-than-an-year\/","title":{"rendered":"Thursday 1st March: Dollar gains, Wall Street records worst month in more than an year"},"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 down 1.58%, Shanghai Composite up 0.12%, Hang Seng down 0.27%, ASX down 0.71%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities: Gold at $1314.40 (-0.27%), Silver at $16.250 (-0.45%), WTI Oil at $61.66 (+0.03%), Brent Oil at $64.68 (-0.08%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates: US 10-year yield at 2.866, UK 10-year yield at 1.507, German 10-year yield at 0.655<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong><span style=\"font-size:14px;\"><strong>&nbsp;&nbsp;<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Caixin Manufacturing PMI 51.6 vs 51.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Private Capital Expenditure q\/q -0.20% vs 1.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories 3.0M vs 2.4M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Pending Home Sales m\/m -4.70% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Chicago PMI 61.9 vs 64.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Prelim GDP q\/q 2.50% vs 2.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) RMPI m\/m 3.30% vs 1.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Core CPI Flash Estimate y\/y 1.00% vs 1.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) CPI Flash Estimate y\/y 1.20% vs 1.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) Credit Suisse Economic Expectations 25.8 vs 34.5 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) KOF Economic Barometer 108 vs 106.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump Likely to Impose Stiff Steel, Aluminum Tariffs<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">US amenable to trade talks with Japan, 4 other TPP members: USTR<\/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 lower on Thursday, after Powell&rsquo;s hawkish Q&amp;A brought back concerns of further rate hikes, sending risk asset markets spiralling down. His remarks to the Senate Banking Committee on Thursday will hopefully provide more clarity on what the Fed has in store.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Nikkei has been trading lower today. The JGB curve continues to flattening, as Kudroa continues to press upon the need for continued easing. Caixin PMI helped ease concerns of a slowing Chinese manufacturing sector, and led the markets to higher territories.&nbsp; ASX has been weaker today, with banks under pressure from the lower rates, and miners from the stronger dollar.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The dollar continues to be bought, supported by comments from Powell. The dollar index rose to its highest since 19<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> January. As usual, safe haven JPY continues to strengthen against the dollar. The Euro has had perils of its own, with the euro-zone inflation slowing to a 14 month low, signalling that the ECB&rsquo;s caution in removing stimulus is warranted.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Commodities have mostly steadied, with copper and oil off overnight lows. However, the stronger dollar continues to pose a threat to commodity markets. On the bright side, the strengthened dollar, and consequently cheaper oil, may cause a slowdown in US inflation, and thus slowing down the rate hikes.<\/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;\">09:30 AM GMT &#8211; (GBP) Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Net Lending to Individuals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) ISM Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><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><\/span><\/span><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian stock markets: Nikkei down 1.58%, Shanghai Composite up 0.12%, Hang Seng down 0.27%, ASX down 0.71% Commodities: Gold at $1314.40 (-0.27%), Silver at $16.250 (-0.45%), WTI Oil at $61.66 (+0.03%), Brent Oil at $64.68 (-0.08%) Rates: US 10-year yield at 2.866, UK 10-year yield at 1.507, German 10-year yield at 0.655 News &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/thursday-1st-march-dollar-gains-wall-street-records-worst-month-in-more-than-an-year\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 1st March: Dollar gains, Wall Street records worst month in more than an year<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25321,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25334","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\/25334","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=25334"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25334\/revisions"}],"predecessor-version":[{"id":25336,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25334\/revisions\/25336"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25321"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25334"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25334"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25334"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}