The Asia stock market is set for a mixed start with some major markets including Japan and China closed for a holiday. The Australian market opened slightly higher, whereas the Hong Kong futures pointed slightly lower. The US share market fell from a record on Friday upon higher inflationary economic data and Federal Reserve’s hawkish remarks.
US longer-term yields traded lower on Friday. US 10-year yields fell by 1 point to near 1.63%. Meanwhile, US 2-year yields were flat near 0.16%.
According to ZERO Markets’ MetaTrader 5 platform, the US dollar was stronger against major currencies on Friday. EUR/USD rose from highs near 1.212 to lows around $1.2015. AUD/USD fell from highs near $0.7776 to lows around $0.771.
Commodity trading on Friday saw global oil prices fell by 2% Friday following the release of weak Japanese crude import data and concern on India fuel demand. Brent crude fell 1.9% to $US 67.2 a barrel.
Precious metals, gold, were flat near $US1769 an ounce. Iron ore prices retrieved by 2.1% from record to $186.45 a tonne.
Key events this week:
- US & China Manufacturing PMIs (Monday)
- Reserve Bank of Australia Rates Decision (Tuesday)
- Bank of England Rates Decision (Thursday)
- US April Employment Data (Friday)
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