{"id":27956,"date":"2018-08-27T11:54:08","date_gmt":"2018-08-27T06:24:08","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27956"},"modified":"2018-08-27T15:00:23","modified_gmt":"2018-08-27T09:30:23","slug":"monday-27th-august-asian-markets-rally-on-chinas-yuan-announcement-and-fed-comments","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/monday-27th-august-asian-markets-rally-on-chinas-yuan-announcement-and-fed-comments\/","title":{"rendered":"Monday 27th August: Asian markets rally on China&#8217;s Yuan announcement and Fed comments"},"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 up 0.92%, Shanghai Composite up 1.55%, Hang Seng up 2.12%, ASX up 0.33%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1212.90 (-0.03%), Silver at $14.83 (+0.21%), Brent Oil at $76.14 (+0.01%), WTI Oil at $68.72 (0.00%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.815, UK 10-year yield at 1.279, Germany 10-year yield at 0.350<\/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) Durable Goods Orders m\/m -1.70% vs -0.70% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core Durable Goods Orders m\/m 0.20% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Abe expected to win leadership race despite flat ratings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">ScoMo should give some mojo to AU financial markets, but uncertainties remain<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China State Planner: China Faces Relatively Big Pressure For Investment Growth Slowdown In Future<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">The People&#39;s Bank of China (PBOC) set the yuan reference rate at 6.8508 vs. Friday&#39;s fix of 6.8710<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t&nbsp;\n<\/p>\n<p>\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 21st, 2018):<\/strong><\/span><\/span>\n<\/p>\n<div>\n<ul>\n<li>\n\t\t\t<span style=\"font-size:14px;\">EUR short 5K vs 2K&nbsp;long&nbsp;last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">GBP short 72K vs 61K short last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">JPY short 47K vs 58K short last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">CHF short 47K vs 46K short last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">CAD short 27K vs 26K short last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">AUD short 50k vs 51k short&nbsp;last week.<\/span>\n\t\t<\/li>\n<li>\n\t\t\t<span style=\"font-size:14px;\">NZD short 25K vs 27K short last week.&nbsp;<\/span>\n\t\t<\/li>\n<\/ul>\n<\/div>\n<div style=\"margin: 0px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; line-height: inherit; font-family: Helvetica, Arial, sans-serif; vertical-align: baseline; color: rgb(84, 84, 84);\">\n<ul style=\"margin: 0px 0px 10px; padding-right: 30px; padding-left: 30px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: &quot;Segoe UI&quot;, OpenS, Tahoma, Geneva, Verdana, sans-serif; vertical-align: baseline; list-style: circle outside; box-sizing: border-box;\">\n\t<\/ul>\n<\/div>\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 mostly in positive territory on Monday, tracking the record closing highs on Wall Street Friday after Federal Reserve Chairman Jerome Powell said that the strength of the U.S. economic expansion justified gradual interest rate hikes. In addition, higher commodity prices boosted resources stocks. At the Jackson Hole Symposium in Wyoming, Powell said, &quot;As the most recent FOMC statement indicates, if the strong growth in income and jobs continues, further gradual increases in the target range for the federal funds rate will likely be appropriate.&quot;<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Greater China markets in the green following a move by China&#39;s central bank to guide the management of the yuan, which analysts saw as a way to slow the yuan&#39;s slide. The Greater China markets gained in midday trade. Hong Kong&#39;s Hang Seng index rose by more than 2 percent as all of its major sectors rose, with services up by 2.99 percent. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Over on the mainland, the Shanghai composite traded by more than 1.5 percent up while the Shenzhen composite was higher by 2 percent. The Japanese market is advancing for a fifth straight session following the gains on Wall Street Friday. Exporters are higher despite a stronger yen. In Australia, the ASX 200 was up by 0.33 percent after trading in negative territory earlier in the day, as the heavily weighted financials sector reversed its earlier losses to trade flat.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.07 percent at 95.075. The U.S. dollar is trading in the lower 111 yen-range on Monday. Oil prices fell after rising last week, ending a streak of weekly declines on tightening supply, driven by the prospect of lower oil supply from Iran.<\/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;\">Monday, August 27<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) German Ifo Business Climate<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, August 28<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) CB Consumer Confidence<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, August 29<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Prelim GDP q\/q<\/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 30<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (NZD) ANZ Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Private Capital Expenditure q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Building Approvals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day &#8211; (EUR) German Prelim CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (CHF) KOF Economic Barometer<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) Spanish Flash CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) GDP m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:30 PM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, August 31<sup>st<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (CNY) Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (CNY) Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">07:00 AM GMT &#8211; (EUR) German Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) CPI Flash Estimate y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) Core CPI Flash Estimate y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) RMPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:45 PM GMT &#8211; (USD) Chicago PMI<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.92%, Shanghai Composite up 1.55%, Hang Seng up 2.12%, ASX up 0.33% Commodities : Gold at $1212.90 (-0.03%), Silver at $14.83 (+0.21%), Brent Oil at $76.14 (+0.01%), WTI Oil at $68.72 (0.00%) Rates : US 10-year yield at 2.815, UK 10-year yield at 1.279, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/monday-27th-august-asian-markets-rally-on-chinas-yuan-announcement-and-fed-comments\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 27th August: Asian markets rally on China&#8217;s Yuan announcement and Fed comments<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27957,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27956","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\/27956","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=27956"}],"version-history":[{"count":3,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27956\/revisions"}],"predecessor-version":[{"id":27960,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27956\/revisions\/27960"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27957"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27956"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}