{"id":27242,"date":"2018-07-02T11:44:21","date_gmt":"2018-07-02T06:14:21","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27242"},"modified":"2018-07-02T11:44:21","modified_gmt":"2018-07-02T06:14:21","slug":"monday-2nd-july-asian-markets-edge-lower-as-tariffs-come-in-place","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-2nd-july-asian-markets-edge-lower-as-tariffs-come-in-place\/","title":{"rendered":"Monday 2nd July: Asian markets edge lower as tariffs come in place"},"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 2.11%, Shanghai Composite down 1.64%, Hang Seng up 1.61%, ASX down 0.11%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1251.30 (-0.26%), Silver at $16.05 (-0.94%), Brent Oil at $78.30 (-1.17%), WTI Oil at $73.41 (-1.00%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.847, UK 10-year yield at 1.279, Germany 10-year yield at 0.305<\/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;\">(CNY) Caixin Manufacturing PMI 51 vs 51.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Non-Manufacturing PMI 55 vs 54.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Manufacturing PMI 51.5 vs 51.7 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Revised UoM Consumer Sentiment 98.2 vs 99.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Chicago PMI 64.1 vs 60.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Personal Spending m\/m 0.20% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core PCE Price Index m\/m 0.20% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) RMPI m\/m 3.80% vs 1.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) GDP m\/m 0.10% vs 0.00% 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 2.00% vs 2.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Net Lending to Individuals m\/m 5.3B vs 5.2B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Final GDP q\/q 0.20% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Current Account -17.7B vs -18.0B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) KOF Economic Barometer 101.7 vs 100.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Retail Sales m\/m -2.10% vs -0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">German interior minister offers to resign over migration conflict<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">LeBron James jumps to Lakers in 4-year, $154 million deal<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Brexit clouds UK financial sector mood<\/span>\n\t<\/li>\n<\/ul>\n<h4 style=\"margin: 0px 0px 14px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 18px; line-height: 30px; font-family: Roboto, Helvetica, sans-serif; vertical-align: baseline; outline: none; -webkit-font-smoothing: antialiased !important;\">\n\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; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><strong style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\">CFTC Positioning Data (Week Ending June 26th, 2018)<\/strong><\/span><\/span><br \/>\n<\/h4>\n<ul style=\"margin: 0px; padding-right: 30px; padding-left: 30px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: Helvetica, Arial, sans-serif; vertical-align: baseline; list-style-position: outside; list-style-image: initial; color: rgb(84, 84, 84);\">\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">EUR long 34K vs 36K long last week. Longs trimmed 2K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">GBP short 22K vs 19K short last week. Shorts increased by 3K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">JPY short 34K vs 36K short last week. Shorts trimmed by 2K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">CHF short 38K vs 32K short last week.&nbsp; Shorts increase by 6K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">CAD short 33K vs 14K short last week. Shorts increased by 19K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">AUD short 41k vs&nbsp;43K&nbsp;short&nbsp;last week.&nbsp; Shorts trimmed by 2K<\/span>\n\t<\/li>\n<li style=\"box-sizing: border-box;\">\n\t\t<span style=\"font-size:14px;\">NZD short 18K vs 16K short last week. Shorts increased by 2K<\/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;\">Major Asian markets declined on Monday, the first trading day of the second half of the year, as heavy losses were recorded in China ahead of a looming deadline when tariffs from both Washington and Beijing are expected to take effect. U.S. tariffs on $34 billion of Chinese goods are expected to take effect on July 6. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Crude oil prices declined more than 1 percent in Asian trades after rising to a four-year high on Friday, after U.S. President Donald Trump claimed that Saudi Arabia has agreed to raise oil production.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Nikkei tanked as investors digested mixed local economic data, including the Tankan business survey results that showed business sentiment in Japan worsened for the second straight quarter. Losses were broad-based, with retailers and the food sector among the worst performers in the afternoon. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Shanghai composite fell more than 1.5%, while the smaller Shenzhen composite shed 0.5 percent. The fresh declines come after mainland markets staged a rebound in the previous session, with the Shanghai benchmark closing higher by 2.2 percent on Friday after four straight days of losses.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In currency markets, the euro took an early knock on reports German Interior Minister Horst Seehofer had rejected a migration deal German Chancellor Angela Merkel negotiated at a European Union summit on Friday. The U.S. dollar was a touch firmer on a basket of currencies at 94.720, having recoiled from a 95.324 top on Friday. It added 0.3 percent on the yen to 110.97 and was again testing stiff resistance above 111.00.<\/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, July 2<sup>nd<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\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;\">03:00 PM GMT &#8211; (USD) ISM Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) NZIER Business Confidence<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, July 3<sup>rd<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Building Approvals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 AM GMT &#8211; (AUD) RBA Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 AM GMT &#8211; (AUD) Cash Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Construction PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, July 4<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:45 AM GMT &#8211; (CNY) Caixin Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Services PMI<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, July 5<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">11:00 AM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:15 PM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/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) ISM Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 PM GMT &#8211; (USD) FOMC Meeting Minutes<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, July 6<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (GBP) Halifax HPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Average Hourly Earnings m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) Ivey PMI<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 2.11%, Shanghai Composite down 1.64%, Hang Seng up 1.61%, ASX down 0.11% Commodities : Gold at $1251.30 (-0.26%), Silver at $16.05 (-0.94%), Brent Oil at $78.30 (-1.17%), WTI Oil at $73.41 (-1.00%) Rates : US 10-year yield at 2.847, UK 10-year yield at 1.279, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-2nd-july-asian-markets-edge-lower-as-tariffs-come-in-place\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 2nd July: Asian markets edge lower as tariffs come in place<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27242","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\/27242","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=27242"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27242\/revisions"}],"predecessor-version":[{"id":27243,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27242\/revisions\/27243"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26128"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}