{"id":41145,"date":"2020-06-10T18:19:52","date_gmt":"2020-06-10T08:19:52","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=41145"},"modified":"2020-06-10T18:19:52","modified_gmt":"2020-06-10T08:19:52","slug":"wednesday-10th-june-asian-markets-mixed-as-chinese-inflation-misses-expectations-fed-policy-awaited-today","status":"publish","type":"post","link":"https:\/\/ic-cn-asia.com\/blog\/wednesday-10th-june-asian-markets-mixed-as-chinese-inflation-misses-expectations-fed-policy-awaited-today\/","title":{"rendered":"Wednesday 10th June:  Asian markets mixed as Chinese inflation misses expectations; Fed policy awaited today"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.15%, Shanghai Composite down 0.42%, Hang Seng up 0.22%, ASX up 0.06%<\/li>\n<li>Commodities : Gold at $1725.45 (+0.21%), Silver at $17.85 (+0.30%), Brent Oil at $40.41 (-1.87%), WTI Oil at $38.05 (-2.29%)<\/li>\n<li>Rates : US 10-year yield at 0.804, UK 10-year yield at 0.315, Germany 10-year yield at -0.325<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(JPY) PPI y\/y -2.70% vs -2.40% expected<\/li>\n<li>(JPY) Core Machinery Orders m\/m -12.00% vs -7.50% expected<\/li>\n<li>(NZD) Manufacturing Sales q\/q 0.00% vs 2.20% previous<\/li>\n<li>(USD) 10-y Bond Auction 0.83|2.3 vs 0.70|2.7 previous<\/li>\n<li>(USD) IBD\/TIPP Economic Optimism 47 vs 52.1 expected<\/li>\n<li>(USD) JOLTS Job Openings 5.05M vs 5.75M expected<\/li>\n<li>(USD) Final Wholesale Inventories m\/m 0.30% vs 0.40% expected<\/li>\n<li>(CAD) Corporate Profits q\/q -38.40% vs 3.60% previous<\/li>\n<li>(USD) NFIB Small Business Index 94.4 vs 92.1 expected<\/li>\n<li>(EUR) Revised GDP q\/q -3.60% vs -3.80% expected<\/li>\n<li>(EUR) Final Employment Change q\/q -0.20% vs -0.20% expected<\/li>\n<li>ECB\u2019s Muller: Near Term Inflation Expectations Are Very Low<\/li>\n<li>ECB\u2019s Muller: Near Term Inflation Expectations Are Very Low<\/li>\n<\/ul>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian stock markets are mixed on Wednesday following the lackluster cues overnight from Wall Street after recent strong gains and as investors turned cautious ahead of the U.S. Federal Reserve&#8217;s monetary policy announcement due later today. While the Fed is not expected to announce any significant policy changes, investors are still likely to pay close attention to the central bank&#8217;s assessment of the economic outlook.<\/p>\n<p>In economic data, China\u2019s inflation data for May missed expectations. Its producer price index for May fell 3.7% from a year earlier, according to China\u2019s National Bureau of Statistics. That was a larger decline that the 3.3% fall expected by analysts in a Reuters poll.<\/p>\n<p>Mainland Chinese stocks were mixed on the day, with the Shanghai composite down 0.4% while the Shenzhen component added 0.5%. The S&amp;P\/ASX 200 in Australia closed slightly higher. In Japan, the Nikkei 225 closed 0.2% higher while the Topix index declined 0.2%. Hong Kong\u2019s Hang Seng index was up 0.2%.<\/p>\n<p>The dollar index, which measures the greenback&#8217;s value against a basket of other major currencies, fell to a fresh three-month low at 96.106. U.S. Treasury yields were broadly lower, also reflecting a more cautious tone in world markets with 10-year government bond yields down 2 basis points at 0.80%. Oil prices were on the back foot on renewed concerns about oversupply and underlying economic weakness.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>12:30 PM GMT &#8211; (USD) CPI m\/m<\/li>\n<li>12:30 PM GMT &#8211; (USD) Core CPI m\/m<\/li>\n<li>06:00 PM GMT &#8211; (USD) FOMC Economic Projections<\/li>\n<li>06:00 PM GMT &#8211; (USD) FOMC Statement<\/li>\n<li>06:00 PM GMT &#8211; (USD) Federal Funds Rate<\/li>\n<li>06:30 PM GMT &#8211; (USD) FOMC Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.15%, Shanghai Composite down 0.42%, Hang Seng up 0.22%, ASX up 0.06% Commodities : Gold at $1725.45 (+0.21%), Silver at $17.85 (+0.30%), Brent Oil at $40.41 (-1.87%), WTI Oil at $38.05 (-2.29%) Rates : US 10-year yield at 0.804, UK 10-year yield at 0.315, Germany 10-year yield &hellip; <a href=\"https:\/\/ic-cn-asia.com\/blog\/wednesday-10th-june-asian-markets-mixed-as-chinese-inflation-misses-expectations-fed-policy-awaited-today\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Wednesday 10th June:  Asian markets mixed as Chinese inflation misses expectations; Fed policy awaited today<\/span><\/a><\/p>\n","protected":false},"author":8,"featured_media":41146,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-41145","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\/41145","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\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=41145"}],"version-history":[{"count":1,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41145\/revisions"}],"predecessor-version":[{"id":41147,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/41145\/revisions\/41147"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/41146"}],"wp:attachment":[{"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=41145"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=41145"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ic-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=41145"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}