Global Markets:
- Asian stock markets: Nikkei down 2.10 %, Shanghai Composite fell 0.05 %, Hang Seng declined 0.70 %, ASX lost 1.30 %
- Commodities: Gold at $1140 (-0.10 %), Silver at $15.49 (-0.50 %), WTI Oil at $46.38 (-0.45 %), Brent Oil at $49.58 (+0.20 %)
- Rates: US 10 year yield at 2.14, UK 10 year yield at 1.92, German 10 year yield at 0.52
News & Data:
- China Official Non-Manufacturing PMI (Oct): 53.1 (prev 53.4) — Shanghai Daily
- China Official Manufacturing PMI (Oct): 49.8 (exp 50.0 prev 49.8) — WSJ
- China Caixin Manufacturing PMI (Oct): 48.3 (exp 47.6 prev 47.2)
- Japan Nikkei Manufacturing PMI (Oct, F): 52.4 (flash 52.5)
- South Korea Nikkei Manufacturing PMI (Oct): 49.1 (prev 49.2)
- Australia Building Approvals (MoM) Sep: 2.2% (exp 1.0% prev -6.9%)
- Australia Building Approvals (YoY) Sep: 21.4% (exp 24.1% prev 5.1%)
- Australia TD Securities Inflation (MoM) Oct: 0.0% (prev 0.3%)
- Australia TD Securities Inflation (YoY) Oct: 1.8% (prev 1.9%)
- Australia AiG PMI (Oct): 50.2 (prev 52.1)
- Chinese Premier Li: China Needs 6.5% GDP Growth To Meet Economic Goals — BBG
- PBoC Fixes Yuan Reference Rate At 6.3154 (prev 6.3495)
CFTC Positioning Data:
- EUR short 106k vs short 63K prev
- GBP long 4k vs long 7.5 K prev
- JPY short 34k vs short 4K prev
- CAD short 19k vs short 27K prev
- CHF long 1.5 vs short 1K prev
- AUD short 36k vs short 38K prev
- NZD long 5.6k vs long 4K prev
Markets Update:
Overnight, the USD weakened somewhat, while the Euro and Yen were the best performing currencies. EUR/USD opened with a 30 pips gap on Sunday, at 1.1035 vs 1.1005 (Friday's NY close). GBP/USD remained unchanged from Friday's close and spent most of the session in a 1.5430-40 range. USD/JPY opened roughly 20 pips lower, but filled the weekend gap. After the Tokyo open, it came again under pressure and eventually fell to a low of 120.25.
Upcoming Events:
- 08:45 GMT – Italian Manufacturing PMI
- 08:50 GMT – French Manufacturing PMI
- 08:55 GMT – German Manufacturing PMI
- 09:00 GMT – Euro Zone Manufacturing PMI
- 09:30 GMT – UK Manufacturing PMI
- 15:00 GMT – US ISM Manufacturing PMI
The Week Ahead (Key Data & Events):
Tuesday, November 03th
- 03:30 GMT – RBA Rate Decision
- 09:30 GMT – UK Construction PMI
- 15:00 GMT – US Factory Orders
- 21:45 GMT – New Zealand Employment Change
- 21:45 GMT – New Zealand Unemployment Rate
Wednesday, November 04th
- 00:30 GMT – Australian Retail Sales
- 00:30 GMT – Australian Trade Balance
- 08:45 GMT – Italian Services PMI
- 08:50 GMT – French Services PMI
- 08:55 GMT – German Services PMI
- 09:00 GMT – Euro Zone Services PMI
- 09:30 GMT – UK Services PMI
- 10:00 GMT – Euro Zone PPI
- 13:15 GMT – US ADP Nonfarm Employment Change
- 13:30 GMT – US Trade Balance
- 14:45 GMT – US Markit Services PMI
- 15:00 GMT – US ISM Non-Manufacturing PMI
Thursday, November 05th
- 07:00 GMT – German Factory Orders
- 08:15 GMT – Swiss CPI
- 09:00 GMT – Norwegian CB Rate Decision
- 10:00 GMT – Euro Zone Retail Sales
- 12:00 GMT – Bank of England Rate Decision
- 13:30 GMT – US Initial Jobless Claims
- 15:00 GMT – Canadian Ivey PMI
Friday, November 06th
- 09:30 GMT – UK Industrial Production
- 09:30 GMT – UK Manufacturing Production
- 09:30 GMT – UK Trade Balance
- 13:30 GMT – US Unemployment Rate
- 13:30 GMT – US NFP
- 13:30 GMT – US Average Hourly Earnings
- 13:30 GMT – Canadian Employment Change
- 13:30 GMT – Canadian Unemployment Rate
