Forex Marketz Daily Forex News – Fully Markets Update
The Asian and Pacific Rim indices were broadly higher by late Thursday morning as Asian sentient was broadly higher over positive news regarding the possibility of a Covid-19 (coronavirus) vaccine.
In Japan, the headline Nikkei 225 was up 0.28 percent as shares of Softbank added over two percent. The broader Topix index, in Tokyo, was up 0.39 percent.
In South Korea, shares on the Kospi composite index tacked on 0.64 percent and elsewhere in the Asian and Pacific Rim, the Australian ASX rose 0.71 percent.
Australian economic data, according to the bureau of statistics, showed that the country’s trade surplus, for June, came in at 8.025 billion Australian dollars. This was below the expected surplus of 9 billion Australian dollars.
By late morning, the Hang Seng index, in Hong Kong, jumped 1.36 percent. Traders are watching tensions in the city after China passed a controversial nation state law. The city’s police have already made arrests and now regional market participants are watching to see if China will face any economic sanction from the United States,
On the mainland, in China, the equity markets were also higher as the Shanghai composite was up half a percent and the Shenzhen component gained 0.23 percent.
Asian Traders Wait on Key U.S. Labor Data
The world’s largest economy, through the Labor Department, will publish their weekly unemployment claims as well as the key June non-farm payroll report (NFP). The Labor Department will also release the monthly unemployment rate, average hourly wage change data and labor participation rate.
The European Union also has some labor data on the calendar today. Spain will release their monthly unemployment change and Italy will publish their monthly unemployment rate. The Eurozone will also release the monthly unemployment rate. They are also publishing factory gate price. This is called the producers’ price index (PPI).
Canada will publish monthly manufacturing purchasing managers’ index (PMI) and their monthly trade balance data.
