{"id":25703,"date":"2018-03-26T11:04:14","date_gmt":"2018-03-26T05:34:14","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=25703"},"modified":"2018-04-16T12:37:21","modified_gmt":"2018-04-16T07:07:21","slug":"monday-26th-march-markets-still-in-risk-off-mode-on-trade-tensions","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-26th-march-markets-still-in-risk-off-mode-on-trade-tensions\/","title":{"rendered":"Monday 26th March: Markets still in risk-off mode on trade tensions"},"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 &nbsp;0.24%, Shanghai Composite down 1.45%, Hang Seng down 0.36%, ASX down 0.52%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1346.70 (-0.24%), Silver at $16.57 (-0.07%), WTI Oil at $69.69 (-0.17%), Brent Oil at $65.62 (-0.39%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.836, UK 10-year yield at 1.442, Germany 10-year yield at 0.528<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">News &amp; Data:<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Durable Goods Orders m\/m 3.10% vs 1.60% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core Durable Goods Orders m\/m 1.20% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trimmed CPI y\/y 2.10% vs 1.80% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Retail Sales m\/m 0.30% vs 1.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Median CPI y\/y 2.10% vs 1.90% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Common CPI y\/y 1.90% vs 1.80% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Core Retail Sales m\/m 0.90% vs 0.90% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) CPI m\/m 0.60% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China&rsquo;s first oil futures off to a flying start as Beijing vies for pricing power<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">The US is said to have sent China a to-do list to solve trade frictions<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Incoming RBNZ chief signals no change in bias after employment added to mandate<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">CFTC Positioning Data (Week Ending March 20th, 2018)<\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 133K vs 146K long last week. Longs trimmed 13K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 24K vs 8K long last week. Longs increased by 16K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 22K vs 80K short last week. Shorts trimmed by 58K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 8K vs 7K short last week. Shorts increased by 1K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD long 25K vs 19K long last week. Longs increased by 6K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD long 18K vs 1k short last week.&nbsp; Longs added 19K.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 20K vs 3K shorts.&nbsp; &nbsp;Longs added 23K this week<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Asian markets started the week in red, following looming trade war concerns. However, the sentiment in the markets is better compared to Friday, when the selling was left, right and center.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Chinese response to US tariffs were much more balanced and measured than expected, quelling to some extent, fears of a trade war. Chinese authorities tried to play down the effect of the sanctions on the Chinese economy, and vowed to push ahead with liberalization efforts.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Nevertheless, Chinese equities were markedly lower today &ndash; however, big oil producers were the saving grace, gaining from the newly launched yuan denominated crude futures. Nikkei off lows &ndash; Kospi gained on news of a US &ndash; South Korea trade deal<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The dollar has been mixed in today&rsquo;s trade, underperforming on export linked currencies such as the Aussie and Kiwi dollar.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The safe haven yen is at a 16 month high. Brent opened above $70 a barrel today, following reports of Saudi production cuts extending into 2019 and US considering sanctions on Iran.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Monday, March 26<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:30 PM GMT &#8211; (USD) FOMC Member Dudley Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 PM GMT &#8211; (USD) FOMC Member Mester Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:10 PM GMT &#8211; (USD) FOMC Member Quarles Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Tuesday, March 27<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:45 AM GMT &#8211; (AUD) RBA Assist Gov Kent Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (EUR) Spanish Flash CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) M3 Money Supply y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) CB Consumer Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Wednesday, March 28<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 AM GMT &#8211; (NZD) ANZ Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (CHF) Credit Suisse Economic Expectations<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Final GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) Pending Home Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size: 14px;\">Thursday, March 29<\/span><sup>th<\/sup><span style=\"font-size: 14px;\"> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day GMT &#8211; (EUR) German Prelim CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (CHF) KOF Economic Barometer<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (GBP) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (GBP) Final GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (GBP) Net Lending to Individuals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) GDP m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (CAD) RMPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:45 PM GMT &#8211; (USD) Chicago PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (USD) Revised UoM Consumer Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\"><span style=\"font-size:14px;\">&amp;More&#8230;.<\/span><\/a>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down &nbsp;0.24%, Shanghai Composite down 1.45%, Hang Seng down 0.36%, ASX down 0.52% Commodities : Gold at $1346.70 (-0.24%), Silver at $16.57 (-0.07%), WTI Oil at $69.69 (-0.17%), Brent Oil at $65.62 (-0.39%) Rates : US 10-year yield at 2.836, UK 10-year yield at 1.442, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-26th-march-markets-still-in-risk-off-mode-on-trade-tensions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 26th March: Markets still in risk-off mode on trade tensions<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":25697,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-25703","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\/25703","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=25703"}],"version-history":[{"count":2,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25703\/revisions"}],"predecessor-version":[{"id":25705,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/25703\/revisions\/25705"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/25697"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=25703"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=25703"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=25703"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}