Global Markets:
● Asian Stock Markets : Nikkei up 1.91%, Shanghai Composite down 0.24% Hang Seng down 1.11% ASX up 0.02%
● Commodities : Gold at $4,452.26 (-0.54%) Silver at $66.463 (-0.43%), Brent Oil at 97.03 (0.77%), WTI Oil at 92.24 (0.82%)
● Rates : US 10-year yield at 4.795, UK 10-year yield at 5.1345, Germany 10-year yield at 3.3376
News & Data:
● (USD) Average Hourly Earnings m/m 0.3% to 0.3% expected
Markets Update:
Asia-Pacific markets opened broadly higher on Monday as investors remained focused on escalating tensions in the Middle East, with the United States and Iran continuing to exchange strikes.
Japan’s Nikkei 225 gained nearly 1%, while the Topix rose 0.55%. South Korea’s Kospi advanced 3.09% at the open, and the small-cap Kosdaq climbed 1.33%. Australia’s S&P/ASX 200 was largely unchanged.
Geopolitical concerns remained elevated after the United States struck three Iranian oil tankers, following claims that Iranian forces had targeted U.S. warships with ballistic missiles. U.S. Energy Secretary Chris Wright also suggested that a nuclear agreement with Iran may not be reached soon.
Wright said the United States could potentially focus on destroying Iran’s nuclear capabilities rather than securing a formal agreement. He added that any future deal could potentially depend on Iran’s next administration, highlighting the uncertainty surrounding diplomatic efforts.
Preventing Iran from developing a nuclear weapon has repeatedly been identified by President Donald Trump as a major objective of the U.S. military campaign. However, Trump has continued pursuing diplomacy with Tehran despite the ongoing conflict.
The war has already pushed global energy prices significantly higher, increasing concerns about inflation and broader economic consequences.
Meanwhile, U.S. stock markets will remain closed on Monday because of a public holiday.
Upcoming Events:
● 11:50 PM GMT – JPY Final GDP Price Index y/y
