Morning Update – 10/05/16 – by Arjun Lakhanpal

Morning all.. Wall st closed quietly with S&P just managing to stay in the green. But Asia was mixed with Nikkei up 2.15% as the JPY weakened further but China was unchanged. Australia’s ASX 200 also retraced losses to trade up 0.23 percent, boosted by a 1.5 percent gain in the heavily-weighted financials sub-index. The energy and materials sub-indexes remained sharply lower, down 2.86 and 2.94 percent respectively. Chinese data showed April’s consumer price index was up 2.3 percent on-year, compared with the median forecast in a Reuters poll for a 2.4 percent increase. In March, consumer prices also rose by 2.3 percent on-year. The producer price index for April, on the other hand, fell 3.4 percent on-year, slightly smaller than the 3.8 percent decline that analysts polled by Reuters had expected. Chinese iron ore and steel futures dropped sharply on Monday, while base metals on the London Metal Exchange also finished down, with copper off 2.6 percent, aluminum down 2.3 percent and nickel off 5 percent, according to Reuters data. Oil prices were mixed during Asian hours on Tuesday, after tumbling nearly 4 percent on Monday in the U.S. session. WTI is unchanged on the session at present. This morning we get French, Italian and Norway IP, CPI from Norway, and trade daata from the UK. Good luck..