{"id":25571,"date":"2018-03-16T11:34:04","date_gmt":"2018-03-16T06:04:04","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25571"},"modified":"2018-03-16T11:36:23","modified_gmt":"2018-03-16T06:06:23","slug":"friday-16th-march-washington-drama-continues-to-dictate-markets","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-16th-march-washington-drama-continues-to-dictate-markets\/","title":{"rendered":"Friday 16th March: Washington Drama continues to dictate markets"},"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 0.44%, Shanghai Composite up 0.01%, Hang Seng up 0.12%, ASX up 0.48%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1316.90 (-0.07%), Silver at $16.42 (-0.01%), WTI Oil at $65.16 (+0.06%), Brent Oil at $61.26 (+0.11%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.823, UK 10-year yield at 1.434, Germany 10-year yield at 0.574<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Business NZ Manufacturing Index 53.4 vs 54.4 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Claims 226K vs 227K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Philly Fed Manufacturing Index 22.3 vs 23.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Empire State Manufacturing Index 22.5 vs 14.9 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) Libor Rate -0.75% vs -0.75% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) PPI m\/m 0.30% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Foreigners Bailing on BOJ Bets Narrow Spread on Yen Swap Rates<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China foreign investment sees growth momentum<\/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 mostly in the negative territory today, as the Washington drama ensues. Reports of more turmoil in the White House have led to investors questioning the stability of the administration and its policies &ndash; however, the White House has denied such reports. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Not helping is the fact that investors are cautious, given the Fed meeting next week, where all eyes are on the commentary, having fully priced in a rate hike for next week. Trade sentiment continues to be soured, given the hawkish rhetoric from the White House on China.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Given the statements from Washington, Chinese equities have been surprisingly quite immune, driven more by global cues. However, Yuan has been weakening, along with other trade-centric currencies like the Aussie and Kiwi dollar. Japan continues to focus on the land-sale scandal involving PM Abe, putting the future of Abenomics in question.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Commodities were mixed, with the risk off sentiment helping gold, but the stronger dollar hindering its gains. Oil was flat today, after a volatile session yesterday, with IEA saying that while demand is set to increase this year, supply is likely to increase at a faster pace.<\/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;\">10:00 AM GMT &#8211; (EUR) Final CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Foreign Securities Purchases<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) Capacity Utilization Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) Industrial Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.44%, Shanghai Composite up 0.01%, Hang Seng up 0.12%, ASX up 0.48% Commodities : Gold at $1316.90 (-0.07%), Silver at $16.42 (-0.01%), WTI Oil at $65.16 (+0.06%), Brent Oil at $61.26 (+0.11%) Rates : US 10-year yield at 2.823, UK 10-year yield at 1.434, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-16th-march-washington-drama-continues-to-dictate-markets\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 16th March: Washington Drama continues to dictate markets<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25571","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\/25571","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=25571"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25571\/revisions"}],"predecessor-version":[{"id":25573,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25571\/revisions\/25573"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25566"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25571"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25571"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25571"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}