Global Markets:
- Asian Stock Markets : Shanghai Composite up 0.53%, Hang Seng up 1.54%, ASX up 0.27%
- Commodities : Gold at $1514.35 (+0.20%), Silver at $18.11 (+0.31%), Brent Oil at $61.31 (-0.62%), WTI Oil at $55.86 (-0.60%)
- Rates : US 10-year yield at 1.714, UK 10-year yield at 0.661, Germany 10-year yield at -0.381
News & Data:
- (AUD) Retail Sales m/m 0.20% vs 0.40% expected
- (USD) ISM Manufacturing PMI 48.3 vs 49 expected
- (USD) Unemployment Rate 3.60% vs 3.60% expected
- (USD) Non-Farm Employment Change 128K vs 90K expected
- (USD) Average Hourly Earnings m/m 0.20% vs 0.30% expected
- (GBP) Manufacturing PMI 49.6 vs 48.2 expected
- Consumer sentiment: expectations regarding the Swiss economy deteriorating
- NZ strikes deal on China FTA upgrade after years of talks
CFTC Positioning Data:
- EUR short 53K vs 51K short last week. Shorts increased by 2K
- GBP short 32K vs 52K short last week. Shorts trimmed by 20K
- JPY short 20K vs 18K short last week. Shorts increased by 2K
- CHF short 12k vs 11k short last week. Shorts increased by 1K
- AUD short 40k vs 48k short last week. Shorts trimmed by 8K
- NZD short 40K vs 40K short last week. Unchanged
- CAD long 44K vs 33K long last week. Longs increased by 11K.
Markets Update:
Asian stock markets are in positive territory on Monday following the gains on Wall Street Friday as much stronger than expected U.S. jobs data for October and renewed optimism about a U.S.-China trade deal boosted risk appetite. The Japanese market is closed for a holiday.
Mainland Chinese shares rose by the afternoon, with the Shanghai composite up 0.5% and Shenzhen component gaining 0.6%. In Hong Kong, the Hang Seng index jumped 1.5%. Shares of life insurer AIA surged more than 2%. Elsewhere, South Korea’s Kospi advanced 1.4%, with shares of chipmaker SK Hynix jumping 1.9%.
The dollar index, which tracks the greenback against a basket of six major rivals, was down 0.02% at 97.222. Those small moves contrasted with a 1.42% jump in the South African rand against the dollar. The currency rallied on relief that Moody’s maintained South Africa’s investment-grade rating on Friday, though the agency cut its outlook on the rating to “negative”. China’s yuan also strengthened, with the positive market tone around trade talks helping it to rise to a 2-1/2 month high against the dollar.
Oil prices, which had surged on hopes for a U.S.-China trade deal, pulled back on Monday.
Upcoming Events:
Monday, November 04, 2019
- 12:30 AM GMT – (AUD) Retail Sales m/m
- 6:30 PM GMT – (EUR) ECB President Lagarde Speaks
Tuesday, November 05, 2019
- 01:45 AM GMT – (CNY) Caixin Services PMI
- 03:30 AM GMT – (AUD) RBA Rate Statement
- 03:30 AM GMT – (AUD) Cash Rate
- 09:30 AM GMT – (GBP) Services PMI
- 01:30 PM GMT – (CAD) Trade Balance
- 03:00 PM GMT – (USD) ISM Non-Manufacturing PMI
- 09:45 PM GMT – (NZD) Employment Change q/q
- 09:45 PM GMT – (NZD) Unemployment Rate
Wednesday, November 06, 2019
- 01:00 PM GMT – (USD) FOMC Member Evans Speaks
- 02:30 PM GMT – (USD) FOMC Member Williams Speaks
- 03:30 PM GMT – (USD) Crude Oil Inventories
Thursday, November 07, 2019
- 12:30 AM GMT – (AUD) Trade Balance
- 10:00 AM GMT – (EUR) EU Economic Forecasts
- 12:00 PM GMT – (GBP) BOE Inflation Report
- 12:00 PM GMT – (GBP) MPC Official Bank Rate Votes
- 12:00 PM GMT – (GBP) Monetary Policy Summary
- 12:00 PM GMT – (GBP) Official Bank Rate
- 12:00 PM GMT – (GBP) Asset Purchase Facility
- 12:00 PM GMT – (GBP) MPC Asset Purchase Facility Votes
- 12:30 PM GMT – (GBP) BOE Gov Carney Speaks
Friday, November 08, 2019
- 12:30 AM GMT – (AUD) RBA Monetary Policy Statement
- Tentative – (CNY) Trade Balance
- 01:30 PM GMT – (CAD) Employment Change
- 01:30 PM GMT – (CAD) Unemployment Rate
- 01:30 PM GMT – (USD) FOMC Member Brainard Speaks
- 03:00 PM GMT – (USD) Prelim UoM Consumer Sentiment
Saturday, November 09, 2019
- 01:30 AM GMT – (CNY) CPI y/y
- &more…