Asia-Pacific markets mixed as investors squared positions heading into a key U.S. inflatio

CoinBlock.Asia 2023-05-09 05:05

Japan +1.05%. Japan March data – inflation adjusted real wages -2.9% y/y, household spending -1.9% y/y.

China +0.53%. China April USD terms Exports +8.5% y/y (expected +8.0%) Imports -7.9%. (expected -0.2%)

Hong Kong -0.44%.

Australia -0.21%. Australian Q1 retail sales -0.6% q/q (vs. expected -0.6%).

Australian weekly consumer confidence survey fell again, to 77.7 (prior 79.8).

Australian household spending in April -4.3% m/m (prior +8.0% ) – CBA data.

India +0.38%.

Overnight in the U.S., major US stock indices are ending the session with mixed results in what has been a quiet Monday. The Dow industrial average fell modestly. The S&P was near unchanged, and the NASDAQ index rose modestly. The Dow industrial average fell -55.71 points or -0.17% at 33618.68; S&P index rose 1.87 points or 0.05% at 4138.13; NASDAQ index of 21.49 points or 0.18% at 12256.91.

Investors keyed in on the Senior Loan Officer Opinion Survey, or SLOOS, which was released during the afternoon. Previously an afterthought on Wall Street, this data has become increasingly important in the wake of the banking crisis earlier in the year.

Taiwan’s trade surplus surged to $6.71 billion, its highest level since October 2020 as exports from the island fell less than expected for April, government data showed Tuesday.

Coming up in the session: Heads up for Australian Federal Government budget due Tuesday evening Sydney time– expected to show the first surplus in 15 years.

Federal Reserve speakers due Tuesday, 9 May 2023: Williams, Jefferson.

European Central Bank speakers on Tuesday, 9 May 2023: Schnabel , Lane, Centeno.

Oil prices fell on Tuesday, relinquishing some of the strong gains in the previous two sessions while the market remained cautious ahead of U.S. inflation figures for April, which will be key to the Federal Reserve’s next interest rate decision.

The Brent crude price was down 30 cents, or 0.4%, at $76.71 and U.S. West Texas Intermediate (WTI) crude fell 26 cents, or 0.4%, to trade at $72.90 at 0340 GMT.

Gold prices flitted in a narrow range on Tuesday ahead of U.S. inflation data, which investors will scrutinize for clues on the Federal Reserve’s policy path.

Spot gold was little changed at $2,023.41 per ounce, as of 0232 GMT. U.S. gold futures were down 0.2% at $2,030.10.

Spot silver added 0.2% at $25.61 per ounce.

Platinum rose 0.2% to $1,073.23, while palladium fell 0.3% at $1,548.58.

Bitcoin fell to start the week, extending losses from a sharp drop over the weekend.

US futures lower. Dow Jones -0.08%; S&P 500 -0.02%; Nasdaq -0.07%.