{"id":26824,"date":"2018-06-01T11:07:01","date_gmt":"2018-06-01T05:37:01","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=26824"},"modified":"2018-06-14T11:07:59","modified_gmt":"2018-06-14T05:37:59","slug":"friday-1st-june-renewed-trade-war-concerns-rattle-asian-markets","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/friday-1st-june-renewed-trade-war-concerns-rattle-asian-markets\/","title":{"rendered":"Friday 1st June: Renewed trade war concerns rattle Asian markets"},"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 0.06%, Shanghai Composite down 0.53%, Hang Seng down 0.09%, ASX down 0.41%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1297.90 (-0.28%), Silver at $16.44 (-0.14%), Brent Oil at $77.47 (-0.12%), WTI Oil at $66.87 (-0.25%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.868, UK 10-year yield at 1.231, Germany 10-year yield at 0.356<\/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;\">(CNY) Caixin Manufacturing PMI 51.1 vs 51.3 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Crude Oil Inventories -3.6M vs -0.4M expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Chicago PMI 62.7 vs 58.2 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Unemployment Claims 221K vs 228K expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Personal Spending m\/m 0.60% vs 0.40% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Core PCE Price Index m\/m 0.20% vs 0.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) GDP m\/m 0.30% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Core CPI Flash Estimate y\/y 1.10% vs 1.00% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) CPI Flash Estimate y\/y 1.90% vs 1.60% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(GBP) Net Lending to Individuals m\/m 5.7B vs 5.2B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">BOJ Unexpectedly Cuts Bond Buying in Test of Yen Speculators<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">ANZ bank boss defends institution in face of expected criminal charges<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Trump Says U.S. Will Agree To Fair NAFTA Deal Or No Deal At All: White House Statement<\/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 equities shook off earlier weakness on Friday, as a softer yen supported Japanese stocks and firm export data drove South Korean markets higher, although rekindled concerns about U.S. protectionist trade policies limited gains.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Trump administration&#39;s decision to impose steel and aluminum tariffs on Canada, Mexico and the European Union rekindled fears of a global trade war. In response, Canada and Mexico said they will retaliate against the U.S. decision to impose tariffs. Investors are also cautious ahead of the release of U.S. jobs data for the month of May later in the day.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">About 230 yuan-denominated mainland A-shares were included in MSCI&rsquo;s emerging markets index today, for the first time in a step toward deeper integration of China&rsquo;s bourses with the rest of the world. The Japanese market staged a recovery and climbed into positive territory on the back of a weaker yen, after opening lower amid renewed fears of a global trade war. <\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The Australian market is declining following the negative cues from Wall Street. In addition, weak commodity prices dragged down resources stocks.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">In currencies, the Canadian dollar and the Mexican peso were on the defensive, weighed by the U.S. decision to impose tariffs on aluminium and steel imports from these countries.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">The deal by the Italian parties averted the prospect of a new snap election, which had rattled global markets earlier this week and sent the euro to a 10-month low of $1.1510 on Tuesday.<\/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;\">09:30 AM GMT &#8211; (GBP) Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Day 2 &#8211; (All) G7 Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Average Hourly Earnings m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Non-Farm Employment Change<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Unemployment Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) ISM Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\"><span style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-weight: inherit; font-stretch: inherit; font-size: 14px; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><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><\/span>\n\t<\/li>\n<\/ul>\n<p style=\"margin-left:18.0pt;\">\n\t&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.06%, Shanghai Composite down 0.53%, Hang Seng down 0.09%, ASX down 0.41% Commodities : Gold at $1297.90 (-0.28%), Silver at $16.44 (-0.14%), Brent Oil at $77.47 (-0.12%), WTI Oil at $66.87 (-0.25%) Rates : US 10-year yield at 2.868, UK 10-year yield at 1.231, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/friday-1st-june-renewed-trade-war-concerns-rattle-asian-markets\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Friday 1st June: Renewed trade war concerns rattle Asian markets<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":26243,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-26824","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\/26824","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=26824"}],"version-history":[{"count":2,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26824\/revisions"}],"predecessor-version":[{"id":26827,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/26824\/revisions\/26827"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/26243"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=26824"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=26824"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=26824"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}