Global stocks were mixed yesterday. During the Asian trading session, the Shanghai stock markets closed sharply lower, but Australian equities rallied. Overnight, major US stock indexes ended down after a rapid rally, but most European and British stocks rose. The sale of shares in the United States and China seemed isolated. On the one hand, the decline in US stocks could be the result of disappointing earnings among tech companies, and the pullback in China could be triggered by the concern of slowing economic growth. On the other hand, the weaker sentiment of investors, both in the United States and in China, may reflect their concerns about the rise of the current trade war between the United States and the United States. United and China. Nevertheless, safe haven assets such as Japan and Japan slipped overnight, suggesting that risk appetite may be higher. Investor confidence could rebound if negative sentiment is under control and geopolitical headlines continue to weaken.
The move recurred overnight, putting pressure on most major currencies. Offshore Chinese fell slightly with 6.9700. The British slipped, despite forecasts of UK economic growth for 2019, which have been updated by UK offices for fiscal responsibility. German Chancellor Angela Merkel has announced her intention to step down and not run for a fifth term. A series of macroeconomic data expected tonight could lead to increased volatility in the currency market. This includes the German data on unemployment and the reading of inflation, the EU GDP and the consumer confidence index. In addition, the US consumer confidence index, expected later in the evening, is expected to reach 136. The US dollar could exert stronger pressure on the G-10 currencies if the result matches expectations of the market.
Futures markets herald a difficult start for equities in the Asia-Pacific region. In particular, the Shanghai and Hong Kong markets could remain under pressure. Nevertheless, some of the country’s largest companies publish profit reports, such as ICBC (SS :), Agricultural Bank (HK 🙂 and PetroChina (SS :). Investor purchases could be lifted if the prospects for sustainable growth or the lesser impact of a slower economy were visible.
In Australia, the construction approval data expected this morning is 3%. The banking sector could find additional support to get rid of the recent weakness if growth was confirmed and market expectations were met.
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