Global Markets:
- Asian stock markets: Nikkei up 0.70 %, Shanghai Composite lower by 0.10 %, Hang Seng gained 0.88 %, ASX 200 rose 0.55 %
- Commodities: Gold at $1304.66 (0.01 %), Silver at $17.38 (-0.16 %), WTI Oil at $51.88 (0.82 %), Brent Oil at $7.80 (1.10 %)
- Rates: US 10-year yield at 2.28, UK 10-year yield at 1.36, German 10-year yield at 0.40
News & Data:
- (CNY) CPI y/y 1.6 % vs 1.6 % expected
- (CNY) PPI y/y 6.9 % vs 6.3 % expected
- (USD) Prelim UoM Consumer Sentiment 101.1 vs 95.1 expected
- (USD) CPI m/m 0.5 % vs 0.3 % expected
- (USD) Core CPI m/m 0.1 % vs 0.2 % expected
- (USD) Core Retail Sales m/m 1.0 % vs 0.9 % expected
- (USD) Retail Sales m/m 1.6 % vs 1.7 % expected
- (CHF) PPI m/m 0.5 % vs 0.3 % expected
- Oil jumps on fears of new Iran sanctions, Iraq conflict
- Euro on defensive on political worries, tame inflation dents dollar- RTRS
CFTC Positioning Data:
- EUR long 98K vs 91K long last week.
- GBP long 15K vs 20K long last week.
- JPY short 101K vs 85K short last week.
- CHF short 4.3K vs 3.2K short last week.
- CAD long 76K vs 75K long last week
- AUD long 69k vs 72k last week.
- NZD long 6K vs 8K long last week.
Markets Update:
Asia-Pacific equity markets advanced to decade highs on Monday. Last week’s inflation data in the U.S. added to evidence that global growth is continuing steadily with limited price pressures in the American economy. Japan’s benchmark index was leading gains thanks to a weaker yen, as global risk appetite continued to improve.
USDJPY after a slightly lower open in very early NZ/Australia recovered partially and is currently seen trading higher at 111.95. Noticeably, The Yen had climbed 0.4 percent against the US Dollar on Friday. The Nikkei Stock Average NIKKEI 225 was up 0.8% earlier today on track to close at another 21-year high as the weaker Yen lifted export and finance stocks.
EURUSD is little changed with no major movements and is currently seen trading at 1.1804. Overall the Euro slipped 0.2 percent against the US Dollar mainly because of lingering concerns about the Eurozone after a conservative Austrian leader secured a victory in parliamentary elections at the weekend. The dollar index, which tracks the dollar against a basket of currencies was flat and is currently valued at 93.15
AUDUSD was mostly consolidating within a 20 pips range in the session maintaining a little lower than its late Friday level and is currently seen Trading at 0.7871. No major movements in the Kiwi Too as the NZ government formation negotiation and jostling continues, The NZDUSD is currently seen trading at 0.7173 down from Friday’s highs of 0.7196.
Upcoming Events:
- 06:00 GMT – (EUR) German WPI m/m
- 09:00 GMT – (EUR) Trade Balance
- 12:30 GMT – (CAD) Foreign Securities Purchases
- 12:30 GMT – (USD) Empire State Manufacturing Index
- 14:30 GMT – (CAD) BOC Business Outlook Survey
- 21:45 GMT – (NZD) CPI q/q
The Week Ahead:
Tuesday, October 17th
- 00:30 GMT – (AUD) Monetary Policy Meeting Minutes
- 00:30 GMT – (AUD) RBA Assist Gov Ellis Speaks
- 08:15 GMT – (GBP) MPC Member Ramsden Speaks
- 08:30 GMT – (GBP) CPI
- 08:30 GMT – (GBP) PPI Input m/m
- 08:30 GMT – (GBP) RPI y/y
- 09:00 GMT – (EUR) German ZEW Economic Sentiment
- 09:15 GMT – (GBP) MPC Member Tenreyro Speaks
- 10:00 GMT – (EUR) Final CPI y/y
- 10:15 GMT – (GBP) BOE Gov Carney Speaks
- 12:30 GMT – (USD) Import Prices m/m
- 13:15 GMT – (USD) Capacity Utilization Rate
- 13:15 GMT – (USD) Industrial Production m/m
- 17:00 GMT – (USD) FOMC Member Harker Speaks
- 19:30 GMT – (CAD) Gov Council Member Wilkins Speaks
- Tentative – (NZD) GDT Price Index
Wednesday, October 18th
- 08:10 GMT – (EUR) ECB President Draghi Speaks
- 08:30 GMT – (GBP) Average Earnings Index 3m/y
- 08:30 GMT – (GBP) Claimant Count Change
- 08:30 GMT – (GBP) Unemployment Rate
- 12:00 GMT – (USD) FOMC Member Dudley Speaks
- 12:00 GMT – (USD) FOMC Member Kaplan Speaks
- 12:30 GMT – (CAD) Manufacturing Sales m/m
- 12:30 GMT – (USD) Building Permits
- 12:30 GMT – (USD) Housing Starts
- 14:30 GMT – (USD) Crude Oil Inventories
Thursday, October 19th
- 00:30 GMT – (AUD) Employment Change
- 00:30 GMT – (AUD) Unemployment Rate
- 00:30 GMT – (AUD) NAB Quarterly Business Confidence
- 01:10 GMT – (AUD) RBA Assist Gov Bullock Speaks
- 02:00 GMT – (CNY) GDP q/y
- 02:00 GMT – (CNY) Industrial Production y/y
- 02:00 GMT – (CNY) Fixed Asset Investment ytd/y
- 02:00 GMT – (CNY) NBS Press Conference
- 08:30 GMT – (GBP) Retail Sales m/m
- 12:30 GMT – (USD) Unemployment Claims
- 12:30 GMT – (USD) Philly Fed Manufacturing Index
Friday, October 20th
- 08:30 GMT – (GBP) Public Sector Net Borrowing
- 12:30 GMT – (CAD) CPI m/m
- 12:30 GMT – (CAD) Core Retail Sales m/m
- 12:30 GMT – (CAD) Common CPI y/y
- 12:30 GMT – (CAD) Median CPI y/y
- 12:30 GMT – (CAD) Retail Sales m/m
- 12:30 GMT – (CAD) Trimmed CPI y/y
- 14:00 GMT – (USD) Existing Home Sales
- 23:30 GMT – (USD) Fed Chair Yellen Speaks
