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- Asian equities started the week upbeat with the Nikkei +2.5%, Hang Seng +1.1%, and Shenzhen +1.2%. Locally, the ASX finished +0.4% as info tech lead gains +0.9%. The AUD/USD was well supported at the open to 0.6543, where it remained in a 0.6529/51 range over the session.
- European equities opened quietly with Stoxx and CAC the biggest movers +0.3% and -0.2% respectively. Germany’s October IFO Business Climate measure printed 88.4 against 88.0 estimates while the Current Assessment read 85.3 against 86.0 estimates. Euro and sterling dipped in early trade to find lows at 1.1618 and 1.3311.
- Little movement ahead of the NY open with ranges remaining fairly contained. The USD was a touch weaker however with EUR/USD and GBP/USD recovering to touch respective highs of 1.1652 and 1.33525 while AUD/USD moved up to 0.6559. USD/JPY fell to lows of 152.565 in the move.
- Once again key US data was not released due to the government shutdown though the Dallas Fed Manufacturing Activity Index for October printing at -5.0, up from -8.7 and better than forecasts of -7.8. No reaction to the data with ranges remaining limited across the NY morning.
- Wall St. was firmer from the open with the Dow Jones +0.5%, the S&P +0.9% and the Nasdaq +1.4% in early trade. Across the Atlantic, European markets held modest gains into the close with the FTSE +0.1%, the CAC +0.2% and the DAX +0.3% on the day.
- Limited movement over a subdued NY afternoon with majors holding tight ranges ahead of the Sydney open. AUD/USD settled just off the highs to be changing hands near 0.6550.
- Wall St. remained firm late in the day with the Nasdaq trading +1.7%, the S&P 500 +1%, and the Dow Jones +.5%.
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Key Economic Data Ahead (Sydney Time)
General Market
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