{"id":58598,"date":"2022-11-08T14:45:18","date_gmt":"2022-11-08T03:45:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=58598"},"modified":"2022-11-08T14:45:18","modified_gmt":"2022-11-08T03:45:18","slug":"tuesday-8th-november-2022-asia-pacific-trading-higher","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/tuesday-8th-november-2022-asia-pacific-trading-higher\/","title":{"rendered":"Tuesday 8th November 2022: Asia-Pacific trading higher"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei up 1.22%, Shanghai Composite down 0.38%, Hang Seng down 0.27%, ASX up 0.32%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1676.75 (-0.22%), Silver at $20.81 (-0.53%), Brent Oil at $97.98 (+0.02%), WTI Oil at $91.88 (+0.10%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 4.220, UK 10-year yield at 3.670, Germany 10-year yield at 2.339<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Stocks in the Asia-Pacific traded mostly higher early Tuesday morning as investors digest the Bank of Japan\u2019s summary of opinions and look ahead to the U.S. midterm elections.The European markets were mixed and the U.S. bourses were up and the Asian markets figure to split the difference.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The China stock market has moved higher in back-to-back sessions, gathering more than 80 points or 2.7 percent along the way.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Bank of Japan released a summary of opinions of board members from its monetary policy meeting in October, when it left interest rates unchanged while global peers took on jumbo rate hikes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Australian stock market modestly higher on Tuesday, extending the gains in the previous two sessions, with the benchmark S&amp;P\/ASX 200 moving to nearly the 7,000 mark, following the broadly positive cues from Wall Street overnight, led by gains in technology, gold miners and financial stocks, even as traders remain cautious amid concerns about the outlook for interest rate hikes.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crude oil prices saw considerable volatility on Monday amid uncertainty about the outlook for Chinese energy demand due to conflicting reports about the country&#8217;s COVID-19 policies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold prices gained more than one percent in the day&#8217;s trade, amidst a softening in the Dollar&#8217;s strength as markets reconcile to the Fed&#8217;s actions and commentary in the recent review<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) BRC Retail Sales Monitor y\/y 1.20% vs 1.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) Household Spending y\/y 2.30% vs 2.60% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) Average Cash Earnings y\/y 2.10% vs 1.70% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(AUD) Westpac Consumer Sentiment -6.90% vs -0.90% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(AUD) AIG Services Index 47.7 vs 48 previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Consumer Credit m\/m 25.0B vs 31.5B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) Sentix Investor Confidence -30.9 vs -35.2 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CHF) Foreign Currency Reserves 817B vs 806B previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(GBP) Halifax HPI m\/m -0.40% vs -0.40% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) German Industrial Production m\/m 0.60% vs 0.20% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CHF) Unemployment Rate 2.10% vs 2.10% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) Trade Balance 587B vs 702B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) USD-Denominated Trade Balance 85.2B vs 96.0B expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 am GMT &#8211; (NZD) Inflation Expectations q\/q<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:15 am GMT &#8211; (CHF) SNB Chairman Jordan Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">08:30 am GMT &#8211; (CHF) Gov Board Member Maechler Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:30 am GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">All Day &#8211; (USD) Congressional Elections<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gold prices gained more than one percent in the day&#8217;s trade, amidst a softening in the Dollar&#8217;s strength as markets reconcile to the Fed&#8217;s actions and commentary in the recent review<\/p>\n","protected":false},"author":8,"featured_media":58599,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[340,215,339,195],"tags":[],"class_list":["post-58598","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured-posts","category-market-analysis","category-recent-posts","category-technical-analysis"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/58598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=58598"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/58598\/revisions"}],"predecessor-version":[{"id":58614,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/58598\/revisions\/58614"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/58599"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=58598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=58598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=58598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}