{"id":35041,"date":"2019-06-18T16:44:24","date_gmt":"2019-06-18T06:44:24","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=35041"},"modified":"2019-06-18T16:44:24","modified_gmt":"2019-06-18T06:44:24","slug":"tuesday-18th-june-thin-volumes-as-investors-await-fed-outcomes-with-crossed-fingers","status":"publish","type":"post","link":"https:\/\/icm-cn-asia.com\/blog\/tuesday-18th-june-thin-volumes-as-investors-await-fed-outcomes-with-crossed-fingers\/","title":{"rendered":"Tuesday 18th June: Thin volumes as investors await Fed outcomes with crossed fingers"},"content":{"rendered":"<h3><strong>Global Markets:<\/strong><\/h3>\n<ul>\n<li>Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 0.19%, Hang Seng up 0.84%, ASX up 0.57%<\/li>\n<li>Commodities : Gold at $1349.05 (+0.46%), Silver at $14.88 (+0.36%), Brent Oil at $60.84 (-0.16%), WTI Oil at $51.80 (-0.25%)<\/li>\n<li>Rates : US 10-year yield at 2.075, UK 10-year yield at 0.853, Germany 10-year yield at -0.250<\/li>\n<\/ul>\n<h3><strong>News &amp; Data:<\/strong><\/h3>\n<ul>\n<li>(USD) TIC Long-Term Purchases 46.9B vs 30.8B expected<\/li>\n<li>(USD) NAHB Housing Market Index 64 vs 67 expected<\/li>\n<li>(USD) Empire State Manufacturing Index -8.6 vs 12.1 expected<\/li>\n<li>(CAD) Foreign Securities Purchases -12.80B vs 2.33B expected<\/li>\n<li>(GBP) Rightmove HPI m\/m 0.30% vs 0.90% previous<\/li>\n<li>AUD\/JPY plummets to fresh 5-month low on RBA minutes<\/li>\n<li>After Fed meets, expect bigger move than markets have priced in<\/li>\n<\/ul>\n<h3><\/h3>\n<h3><strong>Markets Update:<\/strong><\/h3>\n<p>Asian markets traded mixed in muted early trading Tuesday, as investors awaited key central bank meetings later this week. The U.S. Federal Open Market Committee will hold a two-day meeting starting Tuesday. Traders will keep a close watch on a policy statement, to be released Wednesday, and a news conference held by Fed Chairman Jerome Powell shortly after that.<\/p>\n<p>Financial markets had rallied on the remarks, which fuelled hopes that the Fed would cut interest rates this year. Although a rate cut isn\u2019t expected this time around, fresh comments from Powell could support another wave of buying or have investors swing the other way.<\/p>\n<p>The Japanese market gave up modest gains earlier in the session and is currently lower. The Nikkei lost 0.8% in afternoon trade, with market heavy-weights Softbank and Fast Retailing both losing close to 1%. The Shanghai Composite lost 0.2%, whereas the Shenzhen Composite traded lower by 0.4%. Hang Seng bucked the trend to trade higher by 0.8%, as Tencent jumped by almost as much as 2%. Down under, the ASX gained 0.6%, even as the RBA minutes justified its June 4 rate cut, the first since 2016.<\/p>\n<p>The Australian dollar fell to a fresh five-month low of $0.6851 after minutes from the RBA\u2019s June meeting. The euro was a shade higher at $1.1231 after spending the previous day confined to a narrow range. U.S. crude oil futures shed 0.13% to $51.86 per barrel after retreating 1.1% the previous day and Brent crude lost 0.2% to $60.81 per barrel following Monday\u2019s loss of 1.7%.<\/p>\n<h3><strong>Upcoming Events:<\/strong><\/h3>\n<ul>\n<li>09:00 AM GMT &#8211; (EUR) ECB President Draghi Speaks<\/li>\n<li>10:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/li>\n<li>01:30 PM GMT &#8211; (CAD) Manufacturing Sales m\/m<\/li>\n<li>01:30 PM GMT &#8211; (USD) Building Permits<\/li>\n<li>03:00 PM GMT &#8211; (GBP) BOE Gov Carney Speaks<\/li>\n<li><a href=\"http:\/\/www.icmarkets.com\/education\/forex-news-and-calendar\/\">&amp;more&#8230;<\/a><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 0.19%, Hang Seng up 0.84%, ASX up 0.57% Commodities : Gold at $1349.05 (+0.46%), Silver at $14.88 (+0.36%), Brent Oil at $60.84 (-0.16%), WTI Oil at $51.80 (-0.25%) Rates : US 10-year yield at 2.075, UK 10-year yield at 0.853, Germany 10-year yield &hellip; <a href=\"https:\/\/icm-cn-asia.com\/blog\/tuesday-18th-june-thin-volumes-as-investors-await-fed-outcomes-with-crossed-fingers\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Tuesday 18th June: Thin volumes as investors await Fed outcomes with crossed fingers<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":35042,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[339],"tags":[],"class_list":["post-35041","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35041","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=35041"}],"version-history":[{"count":1,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35041\/revisions"}],"predecessor-version":[{"id":35043,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/posts\/35041\/revisions\/35043"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media\/35042"}],"wp:attachment":[{"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/media?parent=35041"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/categories?post=35041"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icm-cn-asia.com\/blog\/wp-json\/wp\/v2\/tags?post=35041"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}