{"id":27297,"date":"2018-07-06T11:32:45","date_gmt":"2018-07-06T06:02:45","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27297"},"modified":"2018-07-06T11:32:45","modified_gmt":"2018-07-06T06:02:45","slug":"friday-6th-july-asian-markets-advance-as-us-tariffs-kick-in","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/friday-6th-july-asian-markets-advance-as-us-tariffs-kick-in\/","title":{"rendered":"Friday 6th July: Asian markets advance as US tariffs kick in"},"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 up 1.29%, Shanghai Composite up 0.83%, Hang Seng up 1.00%, ASX up 0.90%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">Commodities : Gold at $1256.10 (-0.21%), Silver at $16.06 (-0.26%), Brent Oil at $77.35 (-0.05%), WTI Oil at $73.11 (+0.23%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">Rates : US 10-year yield at 2.846, UK 10-year yield at 1.254, Germany 10-year yield at 0.302<\/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;\">(USD) Crude Oil Inventories 1.2M vs -4.4M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">(USD) ISM Non-Manufacturing PMI 59.1 vs 58.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">(USD) Unemployment Claims 231K vs 225K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">(USD) ADP Non-Farm Employment Change 177K vs 190K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">U.S. has ignited largest trade war in economic history: China&#39;s MOC&nbsp;&nbsp;&nbsp;&nbsp;<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">China Customs Delays Clearing US Goods As Duties Loom &#8211; RTRS Sources<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size: 14px;\">Wage Pressures in Japan, Devaluation in China: Renminbi has Worst Month Ever<\/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 stocks wobbled initially but recovered on Friday, as Washington slapped tariffs on Chinese imports, a move many investors fear could be the start of a full-scale trade war between the world&rsquo;s two largest economies. The U.S. tariffs on more than 800 goods from China worth $34 billion took effect at 0401 GMT.&nbsp;<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">President Donald Trump has warned the United States may ultimately target over $500 billion worth of Chinese goods, an amount that roughly matches its total imports from China last year. At the same time, reports emerged that the U.S. and European Union may agree to withdraw auto tariffs on each other.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">The Japanese market is advancing following the overnight gains on Wall Street and on a weaker yen. In Australia, the ASX also traded higher &#8211; owing in part to convincing gains in the materials and telecommunications sectors.&nbsp;<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">China markets sprung back slightly, after earlier slipping into negative territory, after the tariffs kicked in. Singapore&#39;s Straits Times Index tumbled as real estate stocks dragged the benchmark lower after the government implemented property cooling measures.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">Newly released minutes from the U.S. Federal Reserve&rsquo;s last policy meeting on June 12-13 showed policymakers discussed whether recession lurked around the corner and expressed concerns global trade tensions could hit an economy that by most measures looked strong.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">In the currency market, the yuan eased slightly in a choppy trade, though it kept some distance from its 11-momth lows touched earlier this week. the dollar index, which tracks the greenback against a basket of six major rivals, was flat at 94.474. After ticking slightly higher, oil prices fell after U.S. government data showed an unexpected jump in crude oil stockpiles. However, the market remains nervous on concerns over tariffs amid an increasingly tight oil market.<\/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;\">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<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; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"color: rgb(0, 114, 188); margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline; text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a><\/span><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 1.29%, Shanghai Composite up 0.83%, Hang Seng up 1.00%, ASX up 0.90% Commodities : Gold at $1256.10 (-0.21%), Silver at $16.06 (-0.26%), Brent Oil at $77.35 (-0.05%), WTI Oil at $73.11 (+0.23%) Rates : US 10-year yield at 2.846, UK 10-year yield at 1.254, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/friday-6th-july-asian-markets-advance-as-us-tariffs-kick-in\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 6th July: Asian markets advance as US tariffs kick in<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26602,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27297","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\/27297","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=27297"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27297\/revisions"}],"predecessor-version":[{"id":27298,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27297\/revisions\/27298"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26602"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27297"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27297"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27297"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}