{"id":63034,"date":"2023-05-08T13:04:18","date_gmt":"2023-05-08T03:04:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=63034"},"modified":"2025-11-11T18:12:43","modified_gmt":"2025-11-11T07:12:43","slug":"tuesday-9th-may-2023-asian-markets-mixed-as-investors-await-us-inflation-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/tuesday-9th-may-2023-asian-markets-mixed-as-investors-await-us-inflation-data\/","title":{"rendered":"Tuesday 9th May 2023: Asian markets mixed as investors await US inflation data"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Asian Stock Markets : Nikkei up 1.01%, Shanghai Composite down 0.98%, Hang Seng down 1.93%, ASX down 0.17%<\/li>\n\n\n\n<li>Commodities : Gold at $2031.55 (-0.08%), Silver at $25.73 (-0.39%), Brent Oil at $76.56 (-0.58%), WTI Oil at $72.75 (-0.56%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.496, UK 10-year yield at 3.802, Germany 10-year yield at 2.318<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">News &amp; Data:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>(GBP) Halifax HPI m\/m -0.30% vs 0.20% expected<\/li>\n\n\n\n<li>(JPY) 10-y Bond Auction 0.43|3.6 vs 0.46|3.8 previous<\/li>\n\n\n\n<li>(CNY) USD-Denominated Trade Balance 90.2B vs 69.0B expected<\/li>\n\n\n\n<li>(CNY) Trade Balance 618B vs 500B expected<\/li>\n\n\n\n<li>(AUD) Retail Sales m\/m 0.40% vs 0.40% expected<\/li>\n\n\n\n<li>(JPY) Household Spending y\/y -1.90% vs 0.90% expected<\/li>\n\n\n\n<li>(JPY) Average Cash Earnings y\/y 0.80% vs 1.00% expected<\/li>\n\n\n\n<li>(GBP) BRC Retail Sales Monitor y\/y 5.20% vs 4.70% expected<\/li>\n\n\n\n<li>(USD) Final Wholesale Inventories m\/m 0.00% vs 0.10% expected<\/li>\n\n\n\n<li>(EUR) Sentix Investor Confidence -13.1 vs -7.9 expected<\/li>\n\n\n\n<li>(EUR) German Industrial Production m\/m -3.40% vs -1.60% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asian markets ended Tuesday on a mixed note, as investors remained cautious ahead of the US inflation data due on Wednesday that could influence the Federal Reserve\u2019s interest rate plans. The Hang Seng Index rose 1.2%, led by gains in state-owned enterprises and energy stocks, while the Nikkei 225 fell 0.7%, dragged by a slump in Japan\u2019s real wages and spending data. The CSI300 Index advanced 1.1%, with banks, oil and gas, and defence sectors outperforming.<\/p>\n\n\n\n<p>The price of WTI crude oil jumped to $72.75 from $68.50 on Thursday, while the price of Brent crude rose to $75.30 from $71.50, as Goldman Sachs slashed its oil price forecasts for 2023, citing a market surplus in early next year. The bank cut its Brent oil forecasts for the first and second quarter of 2023 to $90 and $95 a barrel from $115 and $105 per barrel respectively.<\/p>\n\n\n\n<p>Gold prices fell $30.90 to $2,024.80 an ounce, as the US dollar rallied amid a heavy corporate bond supply and a less-than-feared tightening in lending standards by US banks. The dollar rose to 134.81 Japanese yen from 134.14 yen<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>09:30 am GMT &#8211; (AUD) Annual Budget Release<\/li>\n\n\n\n<li>10:00 am GMT &#8211; (USD) NFIB Small Business Index<\/li>\n\n\n\n<li>12:30 pm GMT &#8211; (USD) FOMC Member Jefferson Speaks<\/li>\n\n\n\n<li>Tentative &#8211; (USD) IBD\/TIPP Economic Optimism<\/li>\n\n\n\n<li>04:05 pm GMT &#8211; (USD) FOMC Member Williams Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian markets ended Tuesday [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":71231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-63034","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63034","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=63034"}],"version-history":[{"count":3,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63034\/revisions"}],"predecessor-version":[{"id":63092,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63034\/revisions\/63092"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/71231"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=63034"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=63034"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=63034"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}