{"id":27315,"date":"2018-07-09T12:07:54","date_gmt":"2018-07-09T06:37:54","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27315"},"modified":"2018-07-09T12:07:54","modified_gmt":"2018-07-09T06:37:54","slug":"monday-9th-jule-asian-markets-higher-as-tariffs-take-a-back-seat","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-9th-jule-asian-markets-higher-as-tariffs-take-a-back-seat\/","title":{"rendered":"Monday 9th Jule: Asian markets higher as tariffs take a back seat"},"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 2.86%, Shanghai Composite up 1.79%, Hang Seng up 1.57%, ASX up 0.17%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1260.60 (+0.38%), Silver at $16.18 (+0.66%), Brent Oil at $77.59 (+0.62%), WTI Oil at $74.16 (+0.49%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.842, UK 10-year yield at 1.268, Germany 10-year yield at 0.294<\/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;\">(CAD) Ivey PMI 63.1 vs 63.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Rate 4.00% vs 3.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Non-Farm Employment Change 213K vs 195K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Average Hourly Earnings m\/m 0.20% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate 6.00% vs 5.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Trade Balance -2.8B vs -2.2B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change 31.8K vs 22.3K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Halifax HPI m\/m 0.30% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Sea of red in Treasury market may signal bond boom is over<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Japanese Yen Steady As Kuroda Sticks Firmly To His Monetary Guns<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">British Brexit Secretary David Davis resigns over EU exit plan: source<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">German Cars and American Steak: Early Trade War Victims Emerge<\/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 share markets rallied on Monday as favorable U.S. jobs data whetted risk appetites, while sterling slipped after two members of the British government resigned over Brexit and put the future of Prime Minister Theresa May in doubt. Meanwhile, investors continued to keep an eye on trade after the U.S. and China exchanged tariffs last week.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is extending gains from Friday following the positive cues from Wall Street and despite a stronger yen, buoyed by the move higher in the electric appliances, construction and mining sectors, while the pharmaceuticals led gains.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Australian market is also rising as higher commodity prices lifted resources stocks. Greater China markets also got a boost in morning trade. China&rsquo;s securities regulator said on Sunday it plans to ease restrictions on foreign investment in stock listed on the Shanghai or Shenzhen exchanges to attract more foreign capital and support the economy. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Sentiment in other markets was mostly positive after Friday&rsquo;s U.S. payrolls report showed tame wages and more people looking for work.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In currency markets, the U.S. dollar was mostly softer following the jobs report, with sterling being an exception. The pound peeled off around a third of a U.S. cent to $1.3290 as news broke British Brexit Secretary David Davis and Brexit Minister Steven Baker had resigned. Against a basket of currencies the dollar had pulled back to 93.937, from a top of 94.486 on Friday. In commodity markets, oil prices pushed higher as the dollar eased.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<p style=\"margin-left:18.0pt;\">\n\t<span style=\"font-size:14px;\">Monday, July 9<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:50 AM GMT &#8211; (GBP) MPC Member Broadbent Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18.0pt;\">\n\t<span style=\"font-size:14px;\">Tuesday, July 10<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) NAB Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (CNY) CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) GDP m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Manufacturing Production m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Goods Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Building Permits m\/m<\/span>\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18.0pt;\">\n\t<span style=\"font-size:14px;\">Wednesday, July 11<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Monetary Policy Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (CAD) Overnight Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:15 PM GMT &#8211; (CAD) BOC Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:35 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18.0pt;\">\n\t<span style=\"font-size:14px;\">Thursday, July 12<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) BOE Credit Conditions Survey<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (EUR) ECB Monetary Policy Meeting Accounts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) NHPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core CPI m\/m<\/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;\">11:30 PM GMT &#8211; (NZD) Business NZ Manufacturing Index<\/span>\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18.0pt;\">\n\t<span style=\"font-size:14px;\">Friday, July 13<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (CNY) Trade Balance<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:15 AM GMT &#8211; (CHF) PPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Member Cunliffe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 2.86%, Shanghai Composite up 1.79%, Hang Seng up 1.57%, ASX up 0.17% Commodities : Gold at $1260.60 (+0.38%), Silver at $16.18 (+0.66%), Brent Oil at $77.59 (+0.62%), WTI Oil at $74.16 (+0.49%) Rates : US 10-year yield at 2.842, UK 10-year yield at 1.268, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-9th-jule-asian-markets-higher-as-tariffs-take-a-back-seat\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 9th Jule: Asian markets higher as tariffs take a back seat<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27316,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27315","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\/27315","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=27315"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27315\/revisions"}],"predecessor-version":[{"id":27317,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27315\/revisions\/27317"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27316"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27315"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27315"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27315"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}