{"id":26647,"date":"2018-05-22T11:03:58","date_gmt":"2018-05-22T05:33:58","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=26647"},"modified":"2018-05-24T22:33:00","modified_gmt":"2018-05-24T17:03:00","slug":"tuesday-22nd-may-asian-markets-skid-on-tuesday-as-dollar-strengthens-and-oil-prices-surge","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-22nd-may-asian-markets-skid-on-tuesday-as-dollar-strengthens-and-oil-prices-surge\/","title":{"rendered":"Tuesday 22nd May: Asian markets skid on Tuesday as dollar strengthens and oil prices surge"},"content":{"rendered":"<p>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 0.10%, Shanghai Composite down 0.40%, Hang Seng up 0.60%, ASX down 0.83%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1288.90 (-0.15%), Silver at $16.48 (-0.24%), Brent at $79.37 (+0.19%), WTI Oil at $72.52 (+0.23%)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 3.054, UK 10-year yield at 1.476, Germany 10-year yield at 0.522&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) CB Leading Index m\/m 0.20% vs 0.20% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Credit Card Spending y\/y 7.00% vs 7.40% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(JPY) Trade Balance 0.55T vs 0.11T expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Rightmove HPI m\/m 0.80% vs 0.40% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Core Retail Sales q\/q 0.60% vs 1.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Visitor Arrivals m\/m -1.30% vs -1.50% previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) Retail Sales q\/q 0.10% vs 1.00% expectedtrade<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">US stocks rise and NAB pushes back date for assumed rate hike<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodity currencies are beaming on the back of surging Commodity Indexes as oil prices broke through last week high water mark<\/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 stock markets are mostly lower on Tuesday despite the overnight gains on Wall Street as investors looked for fresh cues after trade tensions between the U.S. and China eased. A strong dollar sapped demand for emerging market assets while surging oil prices stoked concerns about a flare-up in inflation and faster U.S. interest rate increases. Markets in South Korea and Hong Kong are closed for holidays.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Japan&rsquo;s Nikkei was mostly flat while Australian shares fell 0.9 percent. Chinese shares opened in the red with the blue-chip CSI300 off 0.7 percent. T<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">he Australian market is declining despite the positive cues overnight from Wall Street amid an easing in U.S.-China trade tensions and higher oil prices. Mining and bank stocks are among the leading decliners.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar hovered near five-month highs against a basket of currencies, boosted by the U.S.-China trade optimism.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil stocks are also mostly higher after crude oil prices touched a three-and-a-half year high overnight. Oil Search is rising 0.2 percent and Santos is advancing 0.6 percent, while Woodside Petroleum is declining more than 1 percent.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span>\n<\/p>\n<ul>\n<li>\n\t\t06:00 AM GMT &#8211; (JPY) BOJ Core CPI y\/y\n\t<\/li>\n<li>\n\t\t09:15 AM GMT &#8211; (GBP) MPC Member Vlieghe Speaks\n\t<\/li>\n<li>\n\t\t09:30 AM GMT &#8211; (GBP) Public Sector Net Borrowing\n\t<\/li>\n<li>\n\t\t10:00 am GMT &#8211; (GBP) Inflation Report Hearings\n\t<\/li>\n<li>\n\t\t11:00 am GMT &#8211; (GBP) CBI Industrial Order Expectations\n\t<\/li>\n<li>\n\t\tTentative &#8211; (EUR) German Buba Monthly Report\n\t<\/li>\n<li>\n\t\t1:30 pm GMT &#8211; (CAD) Wholesale Sales m\/m\n\t<\/li>\n<li>\n\t\t2:00 pm GMT &#8211; (CNY) CB Leading Index m\/m\n\t<\/li>\n<li>\n\t\t3:00 pm GMT &#8211; (USD) Richmond Manufacturing Index\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.10%, Shanghai Composite down 0.40%, Hang Seng up 0.60%, ASX down 0.83%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Commodities : Gold at $1288.90 (-0.15%), Silver at $16.48 (-0.24%), Brent at $79.37 (+0.19%), WTI Oil at $72.52 (+0.23%)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Rates : US 10-year yield at 3.054, UK 10-year yield at 1.476, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-22nd-may-asian-markets-skid-on-tuesday-as-dollar-strengthens-and-oil-prices-surge\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 22nd May: Asian markets skid on Tuesday as dollar strengthens and oil prices surge<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26644,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26647","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\/26647","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=26647"}],"version-history":[{"count":3,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26647\/revisions"}],"predecessor-version":[{"id":26650,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26647\/revisions\/26650"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26644"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=26647"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=26647"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=26647"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}