Global Markets:
- Asian stock markets: Nikkei and Shanghai Composite up 1.40 %, Hang Seng gained 2.25 %, ASX rose 0.60 %
- Commodities: Gold at $1184 (+0.35 %), Silver at $16.15 (+0.20 %), WTI Oil at $46.60 (-0.10 %), Brent Oil at $49.80 (+0.25 %)
- Rates: US 10 year yield at 2.00, UK 10 year yield at 1.76, German 10 year yield at 0.55
News & Data:
- Australia Employment Change (Sep): -5.1K (exp 9.6K prev 17.4K)
- Australia Unemployment Rate (Sep): 6.2% (exp 6.2% prev 6.2%)
- Australia Participation Rate (Sep): 64.9% (exp 65.0% prev 65.0%)
- Australia Consumer Inflation Expectation (Oct): 3.5% (prev 3.2%)
- New Zealand Manufacturing PMI (Sep): 55.4 (prev rev 55.1)
- New Zealand ANZ Consumer Confidence Index (Oct): 114.9 (prev 110.8)
- New Zealand ANZ Consumer Confidence Index (MoM) Oct: 3.7% (prev 0.9%)
- Bank of Korea leaves its main interest rate unchanged at 1.50 %
- PBoC Fixes Yuan Reference Rate At 6.3402 (prev 6.3408)
Markets Update:
The Australian and New Zealand Dollar rallied in the APAC session, with the AUD up 0.75 % against the USD, while NZD/USD gained 0.65 % on the day. AUD/USD found decent support at 0.72 in yesterday's Asian session and remained well bid since then. It broke through 0.73 in the late US session and jumped to 0.7340 in early Sydney trading. Australian employment data led to a dip to 0.7295, but the pair quickly recovered and is now trading around 0.7350.
NZD/USD is up more than 200 pips since it posted a short-term bottom at 0.6620 two days ago. Technical resistance is seen at 0.6920, but the next significant level now lies at 0.70. EUR/USD took out the 1.1460 resistance level without much difficulties and is now on its way towards the 1.15 level. Resistance can be expected at 1.1624 and then 1.1710, which is the August high. USD/JPY finally broke out of the 119-121 range after disappointing US econ data. The pair traded as low as 118.70 in the Asian session and next support is seen at 118.25, followed by 117.00.
Upcoming Events:
- 08:30 BST – Swedish Unemployment Rate
- 09:00 BST – Norwegian Trade Balance
- 13:30 BST – US CPI
- 13:30 BST – US Initial Jobless Claims
- 13:30 BST – US NY Empire State Manufacturing Index
- 15:00 BST – US Phily Fed Manufacturing Index
- 15:30 BST – FOMC Member Bullard speaks
- 15:30 BST – FOMC Member Dudley speaks
- 22:45 BST – New Zealand CPI
