{"id":27056,"date":"2018-06-18T11:20:27","date_gmt":"2018-06-18T05:50:27","guid":{"rendered":"http:\/\/www.icmarkets.com\/blog\/?p=27056"},"modified":"2018-06-19T11:29:30","modified_gmt":"2018-06-19T05:59:30","slug":"monday-18th-june-asian-markets-lower-as-us-and-china-lock-horns","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/monday-18th-june-asian-markets-lower-as-us-and-china-lock-horns\/","title":{"rendered":"Monday 18th June: Asian markets lower as US and China lock horns"},"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 down 0.83%, ASX up 0.32%<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Commodities : Gold at $1281.90 (+0.27%), Silver at $16.52 (+0.24%), Brent Oil at $72.75 (-0.94%), WTI Oil at $63.64 (-1.87%)<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Rates : US 10-year yield at 2.906, UK 10-year yield at 1.329, Germany 10-year yield at 0.402<\/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;\">(USD) Prelim UoM Consumer Sentiment 99.3 vs 98.5 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Industrial Production m\/m -0.10% vs 0.20% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Capacity Utilization Rate 77.90% vs 78.10% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(USD) Empire State Manufacturing Index 25 vs 19.1 expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Manufacturing Sales m\/m -1.30% vs 0.60% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(CAD) Foreign Securities Purchases 9.13B vs 5.49B expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">(EUR) Final CPI y\/y 1.90% vs 1.90% expected<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">China decides to impose additional tariffs on 50 bln USD of U.S. imports<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Abe: N.Korea Leader Kim Jong Un Showed Leadership To Get Summit With Trump &#8211; Hope China Will Improve Transparency Of Defense Policies<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tokyo stocks fall in morning on strong earthquake in Osaka area<\/span>\n\t<\/li>\n<\/ul>\n<h4 style=\"margin: 0px 0px 14px; padding: 0px; border: 0px; font-variant-numeric: inherit; font-variant-east-asian: inherit; font-stretch: inherit; font-size: 18px; line-height: 30px; font-family: Roboto, Helvetica, sans-serif; vertical-align: baseline; outline: none; -webkit-font-smoothing: antialiased !important;\">\n\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; line-height: inherit; font-family: inherit; vertical-align: baseline;\"><strong style=\"margin: 0px; padding: 0px; border: 0px; font-style: inherit; font-variant: inherit; font-stretch: inherit; font-size: inherit; line-height: inherit; font-family: inherit; vertical-align: baseline;\">CFTC Positioning Data (Week Ending June 12th, 2018)<\/strong><\/span><\/span><br \/>\n<\/h4>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">EUR long 88K vs 89K long last week. Longs trimmed 1K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">GBP long 11K vs 7K long last week. Longs increased by 4K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">JPY long 5K vs 3K short last week. 8K new longs shift position to net long.<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CHF short 37K vs 39K short last week.&nbsp; Shorts trimmed 2K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">CAD short 15K vs 16K short last week. Shorts trimmed by 1K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">AUD short 15k vs&nbsp;20K&nbsp;short&nbsp;last week.&nbsp; Shorts trimmed 5K<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">NZD long 7K vs 4K long last week. Longs increased by 3K<\/span>\n\t<\/li>\n<\/ul>\n<h4>\n\t<strong style=\"font-size: 14px;\">Markets Update:<\/strong><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Asian stock markets are in negative territory on Monday amid an escalation in trade tensions between the U.S. and China after the world&#39;s two largest economies announced tit-for-tat trade tariffs last week. In addition, weak commodity prices weighed on resources stocks. C Fears of a global trade war added to pressure on oil prices, which extended Friday&rsquo;s big fall, while the dollar retreated from near 3-week highs against the safe haven yen.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Markets in China, Hong Kong and Taiwan were closed Monday for the Dragon Boat festival holiday while much of Southeast Asia returned after a Friday holiday. Japan stocks fared the worst early, with the Nikkei down 0.8% following its ongoing strength in recent weeks and after a much-bigger-than-expected May trade deficit. However, export data looked stronger than expected, only to be overshadowed by concerns over growing protectionism.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size:14px;\">Oil prices were under pressure on fears of increased supply as two big producers &#8211; Saudi Arabia and Russia &#8211; have indicated they were prepared to increase output. U.S. crude futures took an additional hit also as China&rsquo;s retaliatory tariffs included crude oil.<\/span>\n<\/p>\n<p>\n\t<span style=\"font-size: 14px;\">In the currency market, the dollar was supported for now as the euro has lost steam after the European Central Bank had suggested on Thursday it would hold off raising interest rates through the summer of next year. The Japanese currency stayed resilient following a deadly earthquake that struck Western Japan, including Osaka, the country&rsquo;s second largest urban area. The Australian dollar, a liquid hedge for risk, slipped to a six-week trough while its New Zealand cousin fell to the lowest since end-May.<\/span>\n<\/p>\n<h4>\n\t<span style=\"font-size:14px;\"><strong>Upcoming Events:<\/strong><\/span><br \/>\n<\/h4>\n<p>\n\t<span style=\"font-size:14px;\">Monday, June 18<sup>th<\/sup> 2018&nbsp;&nbsp;<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">06:00 PM GMT &#8211; (USD) FOMC Member Bostic Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">06:30 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 PM GMT &#8211; (USD) FOMC Member Williams Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Tuesday, June 19<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) Monetary Policy Meeting Minutes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 AM GMT &#8211; (AUD) HPI q\/q<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Building Permits<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Housing Starts<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (NZD) GDT Price Index<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:45 PM GMT &#8211; (NZD) Current Account<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Wednesday, June 20<sup>th<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Current Account<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (EUR) ECB President Draghi Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (JPY) BOJ Gov Kuroda Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">02:30 PM GMT &#8211; (USD) Fed Chair Powell Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:00 PM GMT &#8211; (USD) Existing Home Sales<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">03:30 PM GMT &#8211; (USD) Crude Oil Inventories<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">11:45 PM GMT &#8211; (NZD) GDP q\/q<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Thursday, June 21<sup>st<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">05:30 AM GMT &#8211; (CHF) SNB Financial Stability Report<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (CHF) Libor Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (CHF) SNB Monetary Policy Assessment<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (CHF) SNB Press Conference<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:30 AM GMT &#8211; (GBP) Public Sector Net Borrowing<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">Tentative &#8211; (All) OPEC-JMMC Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">10:45 AM GMT &#8211; (EUR) German Buba President Weidmann Speaks<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Official Bank Rate Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Monetary Policy Summary<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Official Bank Rate<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) Asset Purchase Facility<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">12:00 PM GMT &#8211; (GBP) MPC Asset Purchase Facility Votes<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/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;\">09:15 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/span>\n\t<\/li>\n<\/ul>\n<p>\n\t<span style=\"font-size:14px;\">Friday, June 22<sup>nd<\/sup> 2018<\/span>\n<\/p>\n<ul>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) French Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:00 AM GMT &#8211; (EUR) French Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">08:30 AM GMT &#8211; (EUR) German Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Manufacturing PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">09:00 AM GMT &#8211; (EUR) Flash Services PMI<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">All Day GMT &#8211; (All) OPEC Meetings<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) CPI m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Core Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Common CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Median CPI y\/y<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Retail Sales m\/m<\/span>\n\t<\/li>\n<li>\n\t\t<span style=\"font-size:14px;\">01:30 PM GMT &#8211; (CAD) Trimmed CPI y\/y<\/span>\n\t<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.83%, ASX up 0.32% Commodities : Gold at $1281.90 (+0.27%), Silver at $16.52 (+0.24%), Brent Oil at $72.75 (-0.94%), WTI Oil at $63.64 (-1.87%) Rates : US 10-year yield at 2.906, UK 10-year yield at 1.329, Germany 10-year yield at 0.402 News &amp; Data: (USD) Prelim UoM &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/monday-18th-june-asian-markets-lower-as-us-and-china-lock-horns\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Monday 18th June: Asian markets lower as US and China lock horns<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":27057,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-27056","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\/27056","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=27056"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27056\/revisions"}],"predecessor-version":[{"id":27058,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/27056\/revisions\/27058"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/27057"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=27056"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=27056"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=27056"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}