Global Markets:
- Asian stock markets: Nikkei up 0.30 %, Shanghai Composite rose 1.14 %, Hang Seng lost 0.34 %, ASX 200 rose 0.61 %
- Commodities: Gold at $1285.26 (0.81 %), Silver at $16.96 (1.06 %), WTI Oil at $49.47 (0.37 %), Brent Oil at $55.76 (0.25 %)
- Rates: US 10-year yield at 2.36, UK 10-year yield at 1.36, German 10-year yield at 0.46
News & Data:
- (CNY) Caixin Services PMI 50.6 vs 53.1 expected
- (USD) Average Hourly Earnings m/m 0.5 % vs 0.3 % expected
- (USD) Non-Farm Employment Change -33 K vs 82 K expected
- (USD) Unemployment Rate 4.2 % vs 4.4 % expected
- (CAD) Ivey PMI 59.6 vs 56.0 expected
- (GBP) Halifax HPI m/m 0.8 % vs 0.0 % expected
- (CAD) Employment Change 10.0 K vs 13.9 K expected
- (CAD) Unemployment Rate 6.2 % vs 6.3 % expected
- China services sector growth falls to 21-month low in September: Caixin PMI
- Oil up on expectation of Saudi production restraint, lower U.S. rig count- RTRS
CFTC Positioning Data:
- EUR long 91K vs 88K long last week.
- GBP long 20K vs 5K long last week.
- JPY short 85K vs 71K short last week.
- CHF short 3.2K vs 1.8K short last week.
- CAD long 75K vs 75K long last week
- AUD long 72k vs 77k last week.
- NZD long 8K vs 8K long last week.
Markets Update:
Asia-Pacific equity markets mostly Opened higher on Monday, led by buying in China hitting a 21 month high after a weeklong holiday there. Hong Kong stocks, however, fell modestly after hitting 10-year highs Friday. Turkey’s lira also tumbled as relations with the U.S. deteriorated. Liquidity was lacking with Japan and South Korea on holiday and a partial holiday in the United States where stocks will be open but bonds will be closed.
USDJPY is currently seen Trading near today’s opening level at 112.60, The USD had dropped close to 30 pips earlier in the session against the Yen reaching lows of 112.32 before recovering to current levels. Overall the Dollar is a shade softer across the currency markets today. Notably the Dollar was seen trading as high as 113.43 on Friday against the Yen.
EURUSD opened the week around the lows of 1.1725 and reached as highs as 1.1747 in the session before settling around current levels of 1.1735. Overall the Euro gained 0.1 percent against the US Dollar. Likewise, GBPUSD is seen trading around 1.3095 as the Pound added over 0.1 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies was flat is currently valued at 93.75
AUDUSD has maintained a little lower than its late Friday level and is currently seen Trading at 0.7760 down from its session highs of 0.7782. The Kiwi opened creating fresh lows of 0.7058 earlier in the session before retracing partially against the USD. NZDUSD is currently seen trading at 0.7073 overall down by 0.2 percent.
Upcoming Events:
- All Day – (JPY) German Bank Holiday
- All Day – (CAD) German Industrial Production m/m
- All Day – (EUR) German Bank Holiday
- 06:00 GMT – (EUR) German Industrial Production m/m
- 08:30 GMT – (EUR) Sentix Investor Confidence
- 23:01 GMT – (GBP) BRC Retail Sales Monitor y/y\
- 23:50 GMT – (JPY) Current Account
The Week Ahead:
Tuesday, October 10th
- 00:30 GMT – (AUD) NAB Business Confidence
- 03:20 GMT – (AUD) RBA Assist Gov Debelle Speaks
- 08:30 GMT – (AUD) Manufacturing Production m/m
- 08:30 GMT – (GBP) Goods Trade Balance
- 12:30 GMT – (CAD) Building Permits m/m
- 14:00 GMT – (USD) FOMC Member Kashkari Speaks
- 18:00 GMT – (CAD) Gov Council Member Wilkins Speaks
Wednesday, October 11th
- 00:00 GMT – (USD) FOMC Member Kaplan Speaks
- 14:00 GMT – (USD) JOLTS Job Openings
- 18:00 GMT – (USD) FOMC Meeting Minutes
- 21:45 GMT – (NZD) FPI m/m
- 23:01 GMT – (GBP) RICS House Price Balance
- 23:50 GMT – (JPY) Bank Lending y/y
Thursday, October 12th
- 08:30 GMT – (GBP) BOE Credit Conditions Survey
- 09:00 GMT – (EUR) Industrial Production m/m
- 12:30 GMT – (CAD) NHPI m/m
- 12:30 GMT – (USD) PPI m/m
- 12:30 GMT – (USD) Unemployment Claims
- 12:30 GMT – (USD) Core PPI m/m
- 14:30 GMT – (EUR) ECB President Draghi Speaks
- 14:30 GMT – (USD) FOMC Member Brainard Speaks
- 14:30 GMT – (USD) FOMC Member Powell Speaks
- 15:00 GMT – (USD) Crude Oil Inventories
- 19:10 GMT – (CAD) Gov Council Member Wilkins Speaks
- 21:30 GMT – (NZD) Business NZ Manufacturing Index
Friday, October 13th
- Tentative – (CNY) Trade Balance
- 00:30 GMT – (AUD) RBA Financial Stability Review
- 07:15 GMT – (CHF) PPI m/m
- 12:30 GMT – (USD) CPI m/m
- 12:30 GMT – (USD) Core CPI m/m
- 12:30 GMT – (USD) Core Retail Sales m/m
- 12:30 GMT – (USD) Retail Sales m/m
- 14:00 GMT – (USD) Prelim UoM Consumer Sentiment
- 14:25 GMT – (USD) FOMC Member Evans Speaks
- 15:30 GMT – (USD) FOMC Member Kaplan Speaks
