Global Markets:
- Asian stock markets: Nikkei up 1.20 %, Shanghai Composite rose by 0.02 %, Hang Seng lost 0.20 %, ASX 200 down 0.20 %
- Commodities: Gold at $1277.57 (-0.23 %), Silver at $17.01 (-0.42 %), WTI Oil at $52.11 (0.52 %), Brent Oil at $57.89 (0.26 %)
- Rates: US 10-year yield at 2.38, UK 10-year yield at 1.32, German 10-year yield at 0.44
News & Data:
- (USD) Existing Home Sales 5.39 M vs 5.30 expected
- (CAD) CPI m/m 0.2 % vs 0.3 % expected
- (CAD) Core Retail Sales m/m -0.7 % vs 0.3 % expected
- (CAD) Retail Sales m/m -0.3 % vs 0.5 % expected
- Oil prices rise on tightening supply, strong demand
- Dollar climbs to three-month high against yen on Abe election win
CFTC Positioning Data:
- EUR long 90K vs 98K long last week.
- GBP long 5K vs 15K long last week.
- JPY short 101K vs 101K short last week.
- CHF short 5K vs 4.3K short last week.
- CAD long 75K vs 76K long last week
- AUD long 62k vs 69K last week.
- NZD long 7K vs 6K long last week.
Markets Update:
Asia-Pacific equity markets were mostly higher on Monday. Japan shares were at two-decade top, yen at three-month low as Japanese Prime Minister Shinzo performed strongly in the election winning 312 out of 465 seats, with reports he, along with his coalition partner, will retain a two-thirds majority.
USDJPY had an active session earlier today, as the Yen slid over 0.4 percent to lows of over 114.0 against the USD early in Asia before partially recovering to current levels of around 113.75. Overall the Yen currently remains down 0.2 percent against the US Dollar. The Nikkei 225 surged 1.2 percent, with exporters notching gains on the softer Japanese currency.
EURUSD is currently seen trading around 1.1770 recovering from lows of around 1.1750 earlier in the session. The Euro eased as Spain’s constitutional crisis aggravated concerns about political unity in the region. Currently the Euro is down 0.1 percent against the US Dollar. The dollar index, which tracks the dollar against a basket of currencies was up 0.1% and is currently valued at 93.74
AUDUSD was weak earlier in the session trading around lows of 0.7800, but recovered to current levels of 0.7822. Australian 10-year government bond yields rose 2 basis points to 2.80 percent. The Kiwi continued its downtrend as the New Zealand dollar created fresh lows of 0.6931 against the US Dollar earlier in the session before recovering to current levels of 0.6967.
Upcoming Events:
- 07:00 GMT – (EUR) ECB's Praet Speaks
- 10:00 GMT – (GBP) CBI Industrial Order Expectation
- 12:30 GMT – (CAD) Wholesale Sales m/m
- 14:00 GMT – (EUR) Consumer Confidence
- 14:30 GMT – (AUD) CB Leading Index m/m
The Week Ahead:
Tuesday, October 24th
- 07:00 GMT – (EUR) French Flash Manufacturing PMI
- 07:00 GMT – (EUR) French Flash Services PMI
- 07:30 GMT – (EUR) German Flash Manufacturing PMI
- 07:30 GMT – (EUR) German Flash Services PMI
- 08:00 GMT – (EUR) Flash Manufacturing PMI
- 08:00 GMT – (EUR) Flash Services PMI
Wednesday, October 25th
- 00:30 GMT – (AUD) CPI q/q
- 00:30 GMT – (AUD) Trimmed Mean CPI q/q
- 08:00 GMT – (EUR) German Ifo Business Climate
- 08:30 GMT – (GBP) Prelim GDP q/q
- 12:30 GMT – (USD) Core Durable Goods Orders m/m
- 12:30 GMT – (USD) Durable Goods Orders m/m
- 14:00 GMT – (CAD) BOC Monetary Policy Report
- 14:00 GMT – (CAD) BOC Rate Statement
- 14:00 GMT – (CAD) Overnight Rate
- 14:00 GMT – (USD) New Home Sales
- 14:30 GMT – (USD) Crude Oil Inventories
- 15:15 GMT – (CAD) BOC Press Conference
- 21:45 GMT – (NZD) Trade Balance
Thursday, October 26th
- 07:00 GMT – (EUR) Spanish Unemployment Rate
- 07:45 GMT – (AUD) RBA Assist Gov Debelle Speaks
- 08:00 GMT – (EUR) M3 Money Supply y/y
- 11:45 GMT – (EUR) Minimum Bid Rate
- 12:30 GMT – (EUR) ECB Press Conference
- 12:30 GMT – (USD) Unemployment Claims
- 14:00 GMT – (USD) Pending Home Sales m/m
Friday, October 27th
- 00:30 GMT – (AUD) PPI q/q
- 06:00 GMT – (EUR) German Import Prices m/m
- 12:30 GMT – (USD) Advance GDP q/q
- 12:30 GMT – (USD) Advance GDP Price Index q/q
- 14:00 GMT – (USD) Revised UoM Consumer Sentiment
