In Asian Equity Markets indices traded mixed on Friday morning as Chinese economic data came in below expectations. Mainland Chinese stocks rose in early trade, with the Shanghai composite adding 0.22%. In Hong Kong, the Hang Seng index advanced 0.12%. Japan’s Nikkei 225, on the other hand, fell 0.66% in morning trade, with the Topix index also trading down by 0.57%. Automakers fell across the board, with Nissan declining 3.30% and Toyota falling 2.21%. Over in Australia, the ASX 200 traded flat.

 

In Currency Markets the Mexican peso fell to three-month lows against the dollar early on Friday after Washington unexpectedly said it will slap tariffs on all goods coming from its southern neighbor. The Mexican peso fell 1.85% to 19.4942 per dollar after U.S. President Donald Trump said on Thursday the United States will impose a 5% tariff on all goods coming from Mexico starting on June 10 until illegal immigration is stopped. At one point the peso weakened to 19.5950 per dollar, its lowest since March 8.

 

In Commodities Markets oil prices fell 1.5% percent on Friday to their lowest in nearly three months after U.S. President Donald Trump said he would impose tariffs on imports from Mexico, stoking fears about global economic growth. Front-month Brent crude futures, the international benchmark for oil prices, were at $65.86, their lowest since March 11. That was down just over a dollar, or 1.5%, from last session’s close. U.S. WTI crude futures were at $55.78 per barrel, down 81 cents, or 1.5%, from their last settlement. WTI earlier marked its lowest since March 8 at $55.66 a barrel.

 

In US Equity Markets stocks lost ground again on Thursday, as conflicting comments on trade talks from President Donald Trump and Beijing reinforced investor nervousness that a lengthy battle could be in the offing and harm global growth. The S&P 500 lost 0.08%, to 2,780.91 and the Nasdaq Composite fell 0.12%, to 7,538.12. Among stocks, Dollar General Corp jumped 7.2% after the discount retailer’s same-store sales and profit topped expectations. Viacom Inc climbed 3.6% after report that CBS Corp is preparing for merger talks with the media company. CBS rose 2.5%.

 

In Bond Markets U.S. Treasury yields held just above 20-month lows on Thursday as concerns about the U.S.-China trade war denting global growth sustained demand for the safe haven debt. Yields rose earlier on Thursday as higher stock markets showed improving risk appetite, but retraced that move as stocks pared gains. Yields have fell this week on concerns about the U.S.-China trade war and tensions between Italy and the European Union, as well as on expectations that U.S. inflation will stay low.

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