{"id":27249,"date":"2018-07-03T11:13:07","date_gmt":"2018-07-03T05:43:07","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27249"},"modified":"2018-07-03T11:13:07","modified_gmt":"2018-07-03T05:43:07","slug":"tuesday-3rd-july-asian-markets-edge-lower-as-tariffs-come-in-place","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/tuesday-3rd-july-asian-markets-edge-lower-as-tariffs-come-in-place\/","title":{"rendered":"Tuesday 3rd 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 0.64%, Shanghai Composite down 0.20%, Hang Seng down 2.06%, ASX up 0.62%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1240.20 (-0.12%), Silver at $15.86 (+0.13%), Brent Oil at $77.77 (+0.61%), WTI Oil at $74.67 (+0.99%)<\/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 1.255, Germany 10-year yield at 0.306<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Cash Rate 1.50% vs 1.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Building Approvals m\/m -3.20% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) NZIER Business Confidence -20 vs -11 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ISM Manufacturing PMI 60.2 vs 58.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Manufacturing PMI 54.4 vs 54.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Major state-owned China banks seen swapping yuan for dollars in forwards and immediately selling into spot market, supporting the yuan<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Dollar dips as euro&#39;s steadies as German coalition partners resolve row<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZ dollar drops to 2-year low on trade tensions<\/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;\">Asian stocks traded mostly lower on Tuesday, with greater China markets extending their declines as investor worries over Beijing&#39;s trade relations with the U.S. soured sentiment in the region. Tariffs on $34 billion worth of Chinese imports to the U.S. and a matching $34 billion worth of U.S. exports to China are due to take effect on July 6.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">China markets pulled back, extending the last session&#39;s sharp declines. The Shanghai composite sank around a percent after touching two-year lows in the last session; the Shenzhen Composite also pulled back by as much. Hong Kong&#39;s Hang Seng Index plunged more than 3 percent at its lowest, as markets there reopened for trade after a holiday, with the energy and services sectors leading losses. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market drifted into negative territory after opening higher following the modest gains overnight on Wall Street and on a weaker yen. The Australian market is advancing following the positive cues from Wall Street. Oil stocks are among the leading gainers, offsetting weakness in the mining sector.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil prices climbed on Tuesday after Libya declared force majeure on some of its supplies, with both Brent and WTI rising by almost a percent. In the currency market, the U.S. dollar is trading in the upper 110 yen-range on Tuesday. Investor jitters over trade concerns, meanwhile, supported the greenback.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\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<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;\"><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;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.64%, Shanghai Composite down 0.20%, Hang Seng down 2.06%, ASX up 0.62% Commodities : Gold at $1240.20 (-0.12%), Silver at $15.86 (+0.13%), Brent Oil at $77.77 (+0.61%), WTI Oil at $74.67 (+0.99%) Rates : US 10-year yield at 2.866, UK 10-year yield at 1.255, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/tuesday-3rd-july-asian-markets-edge-lower-as-tariffs-come-in-place\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 3rd July: Asian markets edge lower as tariffs come in place<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27249","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\/27249","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=27249"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27249\/revisions"}],"predecessor-version":[{"id":27250,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27249\/revisions\/27250"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26688"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27249"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27249"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27249"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}