Global Markets:
- Asian stock markets: Nikkei up 1.00 %, Shanghai Composite gained 0.10 %, Hang Seng fell 0.10 %, ASX declined 0.15 %
- Commodities: Gold at $1147.20 (-0.01 %), Silver at $15.62 (+0.45 %), WTI Oil at $45.90 (-0.30 %), Brent Oil at $48.75 (+0.40 %)
- Rates: US 10 year yield at 2.16, UK 10 year yield at 1.93, German 10 year yield at 0.53
News & Data:
- Bank Of Japan Leaves Monetary Policy Unchanged
- Japan Unemployment Rate (Sep): 3.4% (exp 3.4% prev 3.4%)
- Japan National CPI (YoY) Sep: 0.0% (exp 0.0% prev 0.2%)
- Japan Overall Household Spending (YoY) Sep: -0.4% (exp 1.1% prev 2.9%)
- Australia PPI (QoQ) Q3: 0.9% (prev 0.3%)
- Australia PPI (YOY) Q3: 1.7% (prev 1.1%)
- Australia Private Sector Credit (MoM) Sep: 0.8% (exp 0.5% prev 0.6%)
- Australia Private Sector Credit (YoY) Sep: 6.7% (exp 6.3% prev 6.3%)
- New Zealand ANZ Activity Outlook (Oct): 23.7 (prev 16.7)
- New Zealand ANZ Business Confidence (Oct): 10.5 (prev -18.9)
- New Zealand Building Permits (MoM) Sep: -5.7% (prev -4.9%)
- UK GfK Consumer Confidence (Oct): 2 (exp 4 prev 3)
- Japanese Econ Min Amari: Prices Moving Towards BoJ’s Target
- Japanese FinMin Aso: Japan Labour Market & Income Situation Improving — BBG
- Aso: Fed’s Decision To Stand Pat Reflects Cautious Judgement On Global Basis — RTRS
Markets Update:
The Bank of Japan left rates/QE unchanged, as expected. Despite this, USD/JPY had a sharp decline from 120.90 to 120.30 as speculators who expected more easing from the BoJ covered their positions. However, the pair quickly retraced losses and rallied to a fresh intraday high of 120.39. The press conference is scheduled for 0630 GMT.
EUR/USD spent the session in a 1.0965-95 range, while GBP/USD consolidated within 1.5305 and 1.5335. Meanwhile, the Aussie and Kiwi Dollar were the best performing currencies against the USD in the Asian session. AUD/USD started the new trading day around 0.7070 and rose to a high of 0.7115, while NZD/USD opened around 0.6690 in Sydney and made it to 0.6755.
Upcoming Events:
- 06:30 GMT – Bank of Japan Press Conference
- 07:00 GMT – German Retail Sales
- 08:00 GMT – Spanish GDP
- 10:00 GMT – Italian CPI
- 10:00 GMT – Euro Zone CPI
- 10:00 GMT – Euro Zone Unemployment Rate
- 12:30 GMT – US Core PCE Price Index
- 12:30 GMT – US Personal Spending
- 12:30 GMT – US Personal Income
- 12:30 GMT – Canadian GDP
- 13:45 GMT – Chicago PMI
- 14:00 GMT – Michigan Consumer Sentiment
