{"id":27649,"date":"2018-08-02T11:06:26","date_gmt":"2018-08-02T05:36:26","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27649"},"modified":"2018-08-02T11:06:26","modified_gmt":"2018-08-02T05:36:26","slug":"thursday-2nd-august-asian-markets-lower-on-trade-worries-bonds-fragile","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/thursday-2nd-august-asian-markets-lower-on-trade-worries-bonds-fragile\/","title":{"rendered":"Thursday 2nd August: Asian Markets Lower On Trade Worries; Bonds Fragile"},"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 1.06%, Shanghai Composite down 2.75%, Hang Seng down 2.39%, ASX down 0.43%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1218.20 (+0.02%), Silver at $15.42 (-0.24%), Brent Oil at $72.56 (+0.23%), WTI Oil at $67.73 (+0.10%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.990, UK 10-year yield at 1.391, Germany 10-year yield at 0.478<\/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) Trade Balance 1.87B vs 0.91B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Federal Funds Rate &lt;2.00% vs &lt;2.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) FOMC Statement&nbsp; vs&nbsp; previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories 3.8M vs -2.6M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ISM Manufacturing PMI 58.1 vs 59.4 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ADP Non-Farm Employment Change 219K vs 186K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Manufacturing PMI 54 vs 54.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Japan&#39;s key bond yield hits 2.5-yr high after BOJ policy adjustments<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">PBoC set the yuan reference rate at 6.7942 vs the previous day&#39;s fix of 6.8293<\/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 declining on Thursday following the mixed cues from Wall Street amid renewed worries about a U.S.-China trade war and on rising bond yields. Investor sentiment was dampened following news that the Trump administration is considering raising the proposed tariff on $200 billion worth of Chinese imports to 25 percent from the 10 percent announced earlier. Global bond markets were rattled by increased borrowing by Washington and Japan&rsquo;s new tolerance for higher yields.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is declining following the mixed lead from Wall Street and on a stronger safe-haven yen amid renewed worries about a U.S.-China trade war. The Australian market is edging lower following weakness in mining stocks after Rio Tinto&#39;s profit missed analysts&#39; estimates. Chinese mainland markets were also lower: The Shanghai composite was down by as much as 2.5%. Elsewhere in Asia, Shanghai, Singapore and Hong Kong are losing more than 1 percent each. South Korea, New Zealand, Taiwan and Malaysia are also lower, while Indonesia is edging higher.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Federal Reserve concluded a two-day meeting on monetary policy and left interest rates unchanged. The Wednesday decision was widely expected, but the central bank upgraded its view on the economy, calling it &quot;strong&quot;. Worries that higher yields in Japan may prompt Japanese investors to repatriate funds hit European bonds, boosting German and French yields to seven-week highs on Wednesday.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In the foreign exchange market, major currencies were little moved. The euro changed hands at $1.1661, while the yen stood at 111.67 yen to the dollar. The British pound was steady at $1.3119 ahead of an expected rate hike by the Bank of England later in the day.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil prices advanced on Thursday morning after falling about 2 percent overnight following a surprise increase in U.S. crude inventory that led to renewed concerns about oversupply.&nbsp;<\/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\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;\">12:00 PM GMT &#8211; (GBP) BOE Inflation Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Official Bank Rate Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Monetary Policy Summary<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Official Bank Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Asset Purchase Facility<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Asset Purchase Facility Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/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;\"><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-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-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=\"margin: 0px; padding: 0px; border: 0px; font: inherit; vertical-align: baseline; color: rgb(0, 114, 188); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a><\/span><\/span><\/span><\/span><\/span><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.06%, Shanghai Composite down 2.75%, Hang Seng down 2.39%, ASX down 0.43% Commodities : Gold at $1218.20 (+0.02%), Silver at $15.42 (-0.24%), Brent Oil at $72.56 (+0.23%), WTI Oil at $67.73 (+0.10%) Rates : US 10-year yield at 2.990, UK 10-year yield at 1.391, Germany 10-year yield &hellip; 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