News & Analysis

Today in Asia

May 15, 2019

By Deepta Bolaky
 @DeeptaGOMarkets

Equity Markets

Positive leads from Wall Street restored risk sentiment in Asian and the Australian share market as well. As of writing, the ASX200 was up by 48 points and is poised to end the day in the black with all sectors were in the positive territory.

World Equity Indices


Source: Bloomberg Terminal

Currency Markets

In the FX space, attention was on the Aussie and Chinese data:

  • Australia: The quarterly wage price came lower at 0.5%, and Consumer Confidence dipped to 0.6%.
  • China: Both Retail Sales and Industrial Production were disappointing and came below expectations at 5.4% and 7.2% respectively.

The Australian dollar emerged as the worst performing G10 currencies against the greenback dragged by weak fundamentals. Despite positive trade comments, the local currency is biased to the downside.


Source: Bloomberg Terminal

The British Pound appreciated against a basket of currencies despite mixed UK unemployment report. Latest updates on Brexit indicate that the Prime Minister has run out of options, and are counting on the MPs to support her deal. She will bring the Brexit deal back to Parliament at the start of June. The economic calendar is relatively empty for the rest of the week, and therefore traders will monitor any developments on Brexit for trading opportunities.


Source: Bloomberg Terminal

Cryptocurrencies Markets

After trading above $8,000, Bitcoin is swinging up and down in a range and appears to be in consolidating phase. The rise in Bitcoin shows that the latter grabbed a larger share of the crypto market.

Looking Ahead

Harmonised Index of Consumer Prices, ZEW Survey- Economic Sentiment and Current Situation (Germany)

ILO Unemployment Rate, Claimant Count Change & Average Earnings (UK)

Industrial Production and ZEW Survey- Economic Sentiment  (Eurozone)

 

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