Global Markets:
- Asian stock markets: Nikkei up 0.65 %, Shanghai Composite rose 0.25 %, Hang Seng gained 1.15 %, ASX rallied 0.50 %
- Commodities: Gold at $1073 (+0.30 %), Silver at $14.19 (+0.25 %), WTI Oil at $43.25 (+0.50 %), Brent Oil at $46.25 (-0.05 %)
- Rates: US 10 year yield at 2.23, UK 10 year yield at 1.89, German 10 year yield at 0.48
News & Data:
- New Zealand Trade Balance (Oct): NZD -963Mln (exp NZD -1000Mln prev NZD -1222Mln)
- New Zealand Trade Balance 12M YtD (Oct): NZD -3237Mln (exp NZD -3318Mln prev NZD -3235Mln)
- New Zealand Imports (Oct): NZD 4.79Bln (exp NZD 4.97Bln prev NZD 4.91Bln)
- New Zealand Exports (Oct): NZD 3.83Bln (exp NZD 4.00Bln prev NZD 3.69Bln)
- Australia Private CapEx (QoQ) Q3: -9.2% (exp -2.9% prev -4.0%)
- South Korea Consumer Confidence Index: 106 (prev. 105)
- PBoC Fixes Yuan Reference Rate At 6.3896 (prev 6.3877)
- PBoC's Sheng Expects Net Capital Inflows In Long Run And For FX Volatility & Outflows To Subside — MNI
- Sheng: CNY Won’t See Large Weakness Despite Short Term Pressure — MNI
Markets Update:
Speculation about further easing measures by the ECB put the Euro under pressure yesterday and led to a 100 pips decline in EUR/USD. The pair fell to a low of 1.0565 at the NY open, a fresh multi-month low. It bounced from there and rose to 1.0640 at the end of the session. In Asia, EUR/USD consolidated in a 1.0615-28 range.
GBP/USD found once again support ahead of the 1.5050 level and rose back above 1.51 in yesterday's late NY session. Asia did not have much interest in the pair and it was stuck in a 1.5115-30 range. Meanwhile, USD/JPY retraced some of its gains amid broad USD weakness. It opened around 122.70 in Sydney and fell to a low of 122.55.
Looking ahead, there are no tier 1 data releases today. Markets are quiet overall and it might stay like that today due to US markets being closed for the Thanksgiving holiday.
Upcoming Events:
- 08:00 GMT – Spanish GDP
- 12:00 GMT – German GfK Consumer Climate
- 23:30 GMT – Japan CPI
- 23:30 GMT – Japan Unemployment Rate
- 23:30 GMT – Japan Household Spending
