{"id":35764,"date":"2019-07-31T16:21:07","date_gmt":"2019-07-31T06:21:07","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=35764"},"modified":"2019-07-31T16:21:07","modified_gmt":"2019-07-31T06:21:07","slug":"wednesday-31st-july-asian-markets-fall-on-diminishing-trade-deal-hopes","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-31st-july-asian-markets-fall-on-diminishing-trade-deal-hopes\/","title":{"rendered":"Wednesday 31st July: Asian markets fall on diminishing trade deal hopes"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.81%, Shanghai Composite down 0.45%, Hang Seng down 1.18%, ASX down 0.39%<\/li>\n<li>Commodities: Gold at $1431.50 (+0.13%), Silver at $16.53 (-0.16%), Brent Oil at $65.22 (+0.91%), WTI Oil at $58.48 (+0.74%)<\/li>\n<li>Rates : US 10-year yield at 2.054, UK 10-year yield at 0.636, Germany 10-year yield at -0.399<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(AUD) Building Approvals m\/m -1.20% vs 0.20% expected<\/li>\n<li>(JPY) BOJ Policy Rate -0.10% vs -0.10% expected<\/li>\n<li>(EUR) French Flash GDP q\/q 0.20% vs 0.30% expected<\/li>\n<li>(EUR) German GfK Consumer Climate 9.7 vs 9.7 expected<\/li>\n<li>(EUR) French Consumer Spending m\/m -0.10% vs 0.20% expected<\/li>\n<li>(EUR) French Gov Budget Balance -77.3B vs -83.9B previous<\/li>\n<li>(CHF) KOF Economic Barometer 97.1 vs 93.5 expected<\/li>\n<li>(EUR) German Prelim CPI m\/m 0.50% vs 0.30% expected<\/li>\n<li>(EUR) Italian 10-y Bond Auction 1.56|1.3 vs 2.09|1.3 previous<\/li>\n<li>(USD) Core PCE Price Index m\/m 0.20% vs 0.20% expected<\/li>\n<li>(USD) Personal Spending m\/m 0.30% vs 0.30% expected<\/li>\n<li>(USD) Personal Income m\/m 0.40% vs 0.40% expected<\/li>\n<li>(USD) S&amp;P\/CS Composite-20 HPI y\/y 2.40% vs 2.40% expected<\/li>\n<li>(USD) CB Consumer Confidence 135.7 vs 125.1 expected<\/li>\n<li>(USD) Pending Home Sales m\/m 2.80% vs 0.50% expected<\/li>\n<li>(GBP) BRC Shop Price Index y\/y -0.10% vs -0.10% previous<\/li>\n<li>(GBP) GfK Consumer Confidence -11 vs -13 expected<\/li>\n<li>(CNY) Manufacturing PMI 49.7 vs 49.6 expected<\/li>\n<li>(CNY) Non-Manufacturing PMI 53.7 vs 54 expected<\/li>\n<li>(NZD) ANZ Business Confidence -44.3 vs -38.1 previous<\/li>\n<li>(AUD) CPI q\/q 0.60% vs 0.50% expected<\/li>\n<li>(AUD) Trimmed Mean CPI q\/q 0.40% vs 0.40% expected<\/li>\n<li>(AUD) Private Sector Credit m\/m 0.10% vs 0.30% expected<\/li>\n<li>(JPY) Consumer Confidence 37.8 vs 38.5 expected<\/li>\n<li>(JPY) Housing Starts y\/y 0.30% vs -2.20% expected<\/li>\n<li>US-China trade talks restarted; atmosphere is good<\/li>\n<li>Fed to cut rates for first time since 2008 to save the long-running economic expansion<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian markets fell in early trading Wednesday, after President Donald Trump poured cold water over optimism for a trade deal as negotiations between the U.S. and China resumed. In a series of tweets Tuesday morning, Trump criticized China for not buying more American agricultural products, and took credit for its slowing economy. On Wall Street, a mixed batch of corporate earnings helped drag indexes slightly lower Tuesday, pulling the market farther from its recent record highs for the second straight day.<\/p>\n<p>The Nikkei slid 0.8% while Hang Seng slumps over 1.18% as investors await possible Fed rate cut. Also, Hong Kong is set to announce its second-quarter GDP figures later on Wednesday. Analysts expect the local economy to be hurt by the city&#8217;s massive protests. The Shanghai Composite retreated 0.45% while Australian shares are down 0.39%.<\/p>\n<p>Treasury yields inch higher on consumer confidence ahead of Fed decision. The dollar held steady on Wednesday, largely in a wait-and-see mode as traders looked ahead to the outcome of the Federal Reserve&#8217;s meeting later in the day when policymakers are expected to cut interest rates for the first time since 2008.<\/p>\n<p>Oil prices gained on Wednesday in Asia after the release of weekly data that showed a decline in U.S. crude stockpile. The gains also came as traders await the expected first rate cuts by the U.S. Federal Reserve in a decade. Gold has now recouped almost all the losses suffered after last week&#8217;s European Central Bank meeting and is trading at $1430 an ounce.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>10:00 AM GMT &#8211; (EUR) CPI Flash Estimate y\/y<\/li>\n<li>10:00 AM GMT &#8211; (EUR) Core CPI Flash Estimate y\/y<\/li>\n<li>01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/li>\n<li>01:30 PM GMT &#8211; (CAD) GDP m\/m<\/li>\n<li>01:30 PM GMT &#8211; (CAD) RMPI m\/m<\/li>\n<li>01:30 PM GMT &#8211; (USD) Employment Cost Index q\/q<\/li>\n<li>02:45 PM GMT &#8211; (USD) Chicago PMI<\/li>\n<li>07:00 PM GMT &#8211; (USD) FOMC Statement<\/li>\n<li>07:00 PM GMT &#8211; (USD) Federal Funds Rate<\/li>\n<li>07:30 PM GMT &#8211; (USD) FOMC Press Conference<\/li>\n<li><a href=\"http:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&#8230;<\/a><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.81%, Shanghai Composite down 0.45%, Hang Seng down 1.18%, ASX down 0.39% Commodities: Gold at $1431.50 (+0.13%), Silver at $16.53 (-0.16%), Brent Oil at $65.22 (+0.91%), WTI Oil at $58.48 (+0.74%) Rates : US 10-year yield at 2.054, UK 10-year yield at 0.636, Germany 10-year yield at &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-31st-july-asian-markets-fall-on-diminishing-trade-deal-hopes\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 31st July: Asian markets fall on diminishing trade deal hopes<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":35765,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-35764","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35764","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=35764"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35764\/revisions"}],"predecessor-version":[{"id":35766,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35764\/revisions\/35766"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/35765"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=35764"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=35764"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=35764"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}