Global Markets:
- Asian stock markets: Nikkei up 2.30 %, ASX gained 1.80 %, Shanghai Composite & Hang Seng closed
- Commodities: Gold at $1114.20 (-0.10 %), Silver at $14.57 (+0.35 %), WTI Oil at $45.71 (+1.35 %), Brent Oil at $48.76 (+0.55 %)
- Rates: US 10 year yield at 2.06, UK 10 year yield at 1.76, German 10 year yield at 0.59
News & Data:
- China Caixin Manufacturing PMI (Sep, F): 47.2 (exp 47.0 flash 47.0)
- China Caixin Services PMI (Sep): 50.5 (prev 51.5)
- China Caixin Composite PMI (Sep): 48.0 (prev 48.8)
- China Official Manufacturing PMI (Sep): 49.8 (exp 49.7 prev 49.7)
- China Official Non-Manufacturing PMI (Sep): 53.4 (prev 53.4)
- Japan Nikkei Manufacturing PMI (Sep, F): 51.0 (flash 50.9)
- Japan Tankan Large Manufacturing Index: 12 (exp 13 prev 15)
- Japan Tankan Large Manufacturing Outlook: 10 (exp 10 prev 16)
- Japan Tankan Large All Industry Capex (YoY): 10.9% (exp 8.7% prev 9.3%)
- Australia AiG PMI (Sep): 52.1 (prev 51.7)
- South Korea Trade Balance (Sep): USD 8.943 Bln (exp USD 6.678 Bln prev rev USD 4.270 Bln)
- Ex-BoJ Iwata: Kuroda Too Optimistic On Economy & Inflation, Further Stimulus Likely Via Bond’s ETFs & Real Estate – BBG
Markets Update:
The Aussie Dollar was the best performing currency overnight, with AUD/UD reaching 0.7070 resistance. Should the pair break higher, it could pave the way for a test of the 0.7158 level (Sep 22 high). NZD/USD extended gains above 0.64 and reached a high of 0.6430 in Asia, while USD/CAD fell to 1.3280 after trading as high as 1.3430 in yesterday's European session. The Canadian Dollar has been supported by rising Oil prices in the past two trading sessions. The Euro and the Pound remain weak. EUR/USD traded down to 1.1145 overnight and a test of 1.11 support seems likely in the short-term. GBP/USD managed to hold above the 1.51 level, but there is no notable support now until 1.5085.
Upcoming Events:
- 08:15 BST – Swiss Retail Sales
- 07:45 BST – Italian Manufacturing PMI
- 07:50 BST – French Manufacturing PMI
- 07:55 BST – German Manufacturing PMI
- 08:00 BST – Euro Zone Manufacturing PMI
- 08:30 BST – UK Manufacturing PMI
- 13:30 BST – US Initial Jobless Claims
- 14:45 BST – US Official Manufacturing PMI
- 15:00 BST – US ISM Manufacturing PMI
- 19:30 BST – FOMC Member Williams speaks
