The US-China Trade Deal Concerns and Asia Opening
Asian markets slipped on Friday leaving global shares just short of an all-time peak as investors turned cautious, fearing a new U.S. law backing Hong Kong protesters could torpedo efforts to end the U.S.-China trade war
Asian markets were sold off due to uncertainty over how U.S. markets will perceive the latest clash between Washington and Beijing over Hong Kong.
Traders on Wall Street will commence a half-day session on Friday following Thursday’s Thanksgiving holiday. U.S. S&P 500 mini futures ESc1 were down 0.26%.
China warned the United States on Thursday it would take “firm counter measures” in response to U.S. legislation backing anti-government protesters in Hong Kong.
- NZ: Building Consents -1.1%a +7.4%p
- JP: Tokyo Core CPI Y/Y 0.6%e 0.5%p, Unemployment Rate 2.4%e/p (yes two point four percent), Flash IP
- EZ: GER U/R, Flash CPI 0.8%e 0.7%p, CORE 1.2%e 1.1%p, EZ U/R
- CA: Monthly GDP, Industrial ProductionWEEK AHEAD:
- Rate decisions out of Australia (Tue), Canada (Wed) & India (Thu)
- As we’ve flagged before Poloz will almost certainly be on the sidelines despite previous BoC meeting, RBA could surprise with a cut despite recent comments from Lowe & we know the RBI are on a dovish skew
- Data wise it will be a massive wk with ISMs, Final PMIs & Super Friday USA (NFPs, AHE, etc), plus we’ll also have 3Q GDP due out of Aus