{"id":26795,"date":"2018-05-31T11:09:23","date_gmt":"2018-05-31T05:39:23","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=26795"},"modified":"2018-06-14T11:07:59","modified_gmt":"2018-06-14T05:37:59","slug":"thursday-31st-may-markets-recover-as-italian-political-crisis-de-escalates","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/thursday-31st-may-markets-recover-as-italian-political-crisis-de-escalates\/","title":{"rendered":"Thursday 31st May: Markets recover as Italian political crisis de-escalates"},"content":{"rendered":"<h4>\n\t<span style=\"font-size:14px;\"><strong>Global Markets:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">Asian Stock Markets : Nikkei up 0.77%, Shanghai Composite up 1.56%, Hang Seng up 0.84%, ASX up 0.43%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1304.00 (+0.19%), Silver at $16.55 (+0.04%), Brent Oil at $77.53 (-0.24%), WTI Oil at $68.12 (-0.13%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.846, UK 10-year yield at 1.249, Germany 10-year yield at 0.362<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>News &amp; Data:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">(AUD) Private Capital Expenditure q\/q 0.40% vs 0.80% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(NZD) ANZ Business Confidence -27.2 vs -23.4 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Non-Manufacturing PMI 54.9 vs 54.8 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CNY) Manufacturing PMI 51.9 vs 51.4 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Overnight Rate 1.25% vs 1.25% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Prelim GDP q\/q 2.20% vs 2.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) RMPI m\/m 0.70% vs 2.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Current Account -19.5B vs -18.1B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) ADP Non-Farm Employment Change 178K vs 191K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Italian 10-y Bond Auction 3.00|1.5 vs 1.70|1.4 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) Credit Suisse Economic Expectations 28 vs 7.2 previous<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Spanish Flash CPI y\/y 2.00% vs 1.70% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CHF) KOF Economic Barometer 100 vs 104.6 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Prelim CPI m\/m 0.50% vs 0.30% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) German Retail Sales m\/m 2.30% vs 0.50% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Two aircraft in Pyongyang for Russian FM Lavrov&rsquo;s visit<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China&rsquo;s Commerce Ministry: China will reserve rights to release countermeasures<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump plans to impose metal tariffs on closest U.S. allies<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Markets Update:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian stocks rebounded from a two-month trough on Thursday, while the euro enjoyed a respite after sinking to its lowest in 10 months as political turmoil in Italy that had roiled global financial markets showed signs of easing. Investors cheered news that Italy&#39;s two anti-establishment parties are making a renewed attempt to form a coalition government and that the country also successfully auctioned five- and ten-year bonds.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Japanese market is rising, tracking the positive cues from Wall Street as concerns about Italy&#39;s political turmoil receded. Nevertheless, a stronger yen weighed on exporters&#39; shares. The Shanghai Composite Index made significant gains after data showed China&rsquo;s factory growth in May accelerated strongly and well above forecasts to an eight-month high. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Hong Kong stocks opened solidly, though the HSI, is poised to log its third monthly drop in the past four. The Australian market is advancing following the gains on Wall Street and as higher commodity prices boosted resources stocks.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The dollar received some support as signs of easing Italian political concerns pulled U.S. Treasury yields up from multi-week lows. The euro stood little changed at $1.1658 after rallying 1 percent the previous day. The currency had sunk to $1.1510 on Tuesday, its lowest since late July 2017. Oil prices eased after rallying overnight as Russia&rsquo;s central bank expressed caution on plans to boost oil supply.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (CNY) Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (CNY) Non-Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:00 AM GMT &#8211; (NZD) ANZ Business Confidence<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Private Capital Expenditure q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Net Lending to Individuals m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) CPI Flash Estimate y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:00 AM GMT &#8211; (EUR) Core CPI Flash Estimate y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) GDP m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Core PCE Price Index m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Personal Spending m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:45 PM GMT &#8211; (USD) Chicago PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">04:00 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">05:45 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:00 PM GMT &#8211; (USD) FOMC Member Brainard Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><a href=\"https:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\" style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline; color: rgb(0, 0, 0); text-decoration-line: none; outline: 0px;\">&amp;more&hellip;<\/a><\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.77%, Shanghai Composite up 1.56%, Hang Seng up 0.84%, ASX up 0.43% Commodities : Gold at $1304.00 (+0.19%), Silver at $16.55 (+0.04%), Brent Oil at $77.53 (-0.24%), WTI Oil at $68.12 (-0.13%) Rates : US 10-year yield at 2.846, UK 10-year yield at 1.249, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/thursday-31st-may-markets-recover-as-italian-political-crisis-de-escalates\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Thursday 31st May: Markets recover as Italian political crisis de-escalates<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26225,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26795","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26795","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/comments?post=26795"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26795\/revisions"}],"predecessor-version":[{"id":26796,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26795\/revisions\/26796"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26225"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=26795"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=26795"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=26795"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}