Global Markets:
- Asian Stock Markets : Nikkei down 1.10%, Shanghai Composite up 0.51%, Hang Seng up 1.66%, ASX up 0.18%
- Commodities : Gold at $1219.30 (+0.35%), Silver at $14.30 (+0.09%), Brent Oil at $74.42 (-0.83%), WTI Oil at $64.78 (-0.81%)
- Rates : US 10-year yield at 3.159, UK 10-year yield at 1.436, Germany 10-year yield at 0.386
News & Data:
- (AUD) Trade Balance 3.02B vs 1.71B expected
- (USD) Crude Oil Inventories 3.2M vs 3.6M expected
- (USD) Employment Cost Index q/q 0.80% vs 0.70% expected
- (CAD) RMPI m/m -0.90% vs -0.50% expected
- (CAD) GDP m/m 0.10% vs 0.00% expected
- (USD) ADP Non-Farm Employment Change 227K vs 188K expected
- (EUR) Core CPI Flash Estimate y/y 1.10% vs 1.10% expected
- (EUR) CPI Flash Estimate y/y 2.20% vs 2.20% expected
- (EUR) Spanish Flash GDP q/q 0.60% vs 0.60% expected
- Bank of England to stay in 'suspended animation' after Halloween meeting
- Australian house prices drop 3.5pc, heading for 'deepest downturn in modern history'
- China central bank Vice Governor: Will step up monetary policy support for rural areas
Markets Update:
Asian stock markets are mostly higher on Thursday, the first trading day of November, following the overnight gains on Wall Street for a second straight session amid upbeat corporate earnings results and data showing stronger than expected private-sector job growth in October. The Japanese market is declining after two straight days of gains.
The Greater China markets were higher by the conclusion of the morning session. Hong Kong's Hang Seng index rose 1.7 percent while the Shanghai composite advanced 0.5 percent and the Shenzhen composite saw gains of 1.6 percent. Those gains were supported by the Thursday morning report of the Caixin-IHS Markit October Purchasing Managers' index (PMI), which came in at 50.1 for October.
Japan's Nikkei 225 remained in negative territory, however, falling by 1.1 percent while the Topix shed 0.8 percent. In Australia, the benchmark ASX 200 shed much of its earlier gains to trade largely flat in the afternoon.
The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 96.836 after seeing an earlier high of 97.115. The dollar index had spiked to a 16-month high of 97.20 overnight on a ADP national employment report which showed that U.S. private sector payrolls increased by the most in eight months in October.
In commodities, U.S. crude futures were down 0.3 percent at $65.11 per barrel and Brent crude lost 0.37 percent to $74.76 per barrel. The two benchmarks remained on the back foot after falling more than $10 from a four-year peak reached early in October as the global market tumult last month was seen hurting demand for fuel.
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