{"id":27777,"date":"2018-08-13T11:21:53","date_gmt":"2018-08-13T05:51:53","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27777"},"modified":"2018-08-13T11:21:53","modified_gmt":"2018-08-13T05:51:53","slug":"monday-13th-august-asian-markets-lower-as-lira-continues-free-fall","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-13th-august-asian-markets-lower-as-lira-continues-free-fall\/","title":{"rendered":"Monday 13th August: Asian Markets Lower as Lira continues Free Fall"},"content":{"rendered":"<h4>\n\t<strong><span style=\"font-size:14px;\">Global Markets:<\/span><\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei down 1.73%, Shanghai Composite down 1.33%, Hang Seng down 1.56%, ASX down 0.46%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1215.40 (-0.30%), Silver at $15.27 (-0.20%), Brent Oil at $72.59 (-0.30%), WTI Oil at $67.58 (-0.07%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.868, UK 10-year yield at 1.246, Germany 10-year yield at 0.318<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong><span style=\"font-size:14px;\">News &amp; Data:<\/span><\/strong><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core CPI m\/m 0.20% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) CPI m\/m 0.20% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Unemployment Rate 5.80% vs 5.90% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Employment Change 54.1K vs 17.0K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Prelim Business Investment q\/q 0.50% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Goods Trade Balance -11.4B vs -12.0B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Prelim GDP q\/q 0.40% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Manufacturing Production m\/m 0.40% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) GDP m\/m 0.10% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Turkish central bank: Will continue to monitor markets, take all necessary measures<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Euro touches lowest in more than a year as Turkey effect continues<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<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: 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 Aug 7ty, 2018):<\/strong><\/span><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 11K vs 23K long last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP short 59K vs 47K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY short 63K vs 68K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 46K vs 44K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD short 25K vs 32K short last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD short 54k vs 51K&nbsp;short&nbsp;last week.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD short 25K vs 24K short last week.&nbsp;<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong><span style=\"font-size:14px;\">Markets Update:<\/span><\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian stock markets are in negative territory on Monday as the ongoing turmoil in Turkey and the fresh fall in the Turkish lira sparked concerns of contagion fears. Tensions between the U.S. and Turkey haven risen due to Turkish detention of U.S. pastor Andrew Brunson and as U.S. President Donald Trump announced that he has authorized the doubling on steel and aluminum tariffs on Turkey.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Asia share markets skidded and the euro hit one-year lows on Monday as a renewed rout in the Turkish lira infected the South African rand and drove demand for safe harbours, including the U.S. dollar, Swiss franc and yen.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is notably lower, tracking the weak cues from Wall Street and a stronger safe-haven yen amid the ongoing turmoil in Turkey; exporter stocks traded lower in the morning, with automakers and electric appliances taking a hit. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Chinese shares were also dented, with the Shanghai Composite and CSI 300 both losing upwards of 1.25%. Hong Kong&#39;s Hang Seng Index, meanwhile, fell by as much as 1.5 percent as all sectors recorded steep declines. The falls in Australia were accentuated by mixed corporate earnings results.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Much of the early action was in currencies with the euro gapping lower as the Turkish lira took another slide to all-time lows around 7.2400. Against the U.S. dollar, the euro touched its lowest since July 2017 at $1.13700. The dollar eased against the safe haven yen to 110.21, but was a shade firmer against a basket of currencies at 96.431. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Argentine peso and South African rand were also caught in the crossfire, with the dollar adding 5 percent on the rand. Dealers said Japanese retail investors had been squeezed out of long positions in the rand sending the yen steaming higher. In commodity markets, gold found little in the way of safety flows and was last down at $1,208.21 an ounce.<\/span>\n<\/p>\n<h4>\n\t<strong><span style=\"font-size:14px;\">Upcoming Events:<\/span><\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, August 14<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) NAB Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 AM GMT &#8211; (CNY) Fixed Asset Investment ytd\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 AM GMT &#8211; (CNY) Industrial Production y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (EUR) German Prelim GDP q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Claimant Count Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) Flash GDP q\/q<\/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<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, August 15<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) Wage Price Index q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) PPI Input m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) RPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Empire State Manufacturing Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Prelim Nonfarm Productivity q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Prelim Unit Labor Costs q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:15 PM GMT &#8211; (USD) Capacity Utilization Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:15 PM GMT &#8211; (USD) Industrial Production m\/m<\/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<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, August 16<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) Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/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;\">11:45 PM GMT &#8211; (NZD) PPI Input q\/q<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, August 17<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">12:30 AM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (AUD) RBA Assist Gov Ellis Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) Final CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Foreign Securities Purchases<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/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<p>\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 1.73%, Shanghai Composite down 1.33%, Hang Seng down 1.56%, ASX down 0.46% Commodities : Gold at $1215.40 (-0.30%), Silver at $15.27 (-0.20%), Brent Oil at $72.59 (-0.30%), WTI Oil at $67.58 (-0.07%) Rates : US 10-year yield at 2.868, UK 10-year yield at 1.246, Germany 10-year yield &hellip; 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