Global Markets:
- Asian stock markets: Nikkei up 0.60 %, Hang Seng rose 0.55 %, ASX 200 fell 0.50 %, Shanghai Composite closed for holiday
- Commodities: Gold at $1278 (+0.50 %), Silver at $17.99 (+1.20 %), WTI Oil at $49.15 (+0.90 %), Brent Oil at $51.30 (+0.80 %)
- Rates: US 10 year yield at 1.69, UK 10 year yield at 0.78, German 10 year yield at -0.05
News & Data:
- Japan Nikkei Services PMI Sep: 48.2 (prev. 49.6)
- Japan Nikkei Composite PMI Sep: 48.9 (prev. 49.8)
- Australian Retail Sales (MoM) Aug: 0.4% (est. 0.20%, prev. 0.00%)
- Australia AIG Perf of Services Index Sep: 48.9 (prev. 45)
- Singapore Nikkei PMI Sep: 52.9 (prev. 52.3)
- New Zealand ANZ Commodity Price Index (MoM) Sep: 5.1% (prev. 3.20%
- UK BRC Shop Price Index (YoY) Sep: -1.8% (prev. -2.00%)
- South Korea CPI (MoM) Sep: 0.6% (est. 0.20%, prev. -0.10%)
- South Korea CPI (YoY) Sep: 1.2% (est. 0.70%, prev. 0.40%)
Markets Update:
Precious metals were in the focus yesterday as Gold broke below $1300. Plenty of stops were triggered as the level broke and momentum sharply accelerated, bringing price to a low of 1266. Gold was able to bounce slightly in Asia, but remains trading with an offered tone. Silver also came under pressure and fell from 18.80 to a low of 17.70.
The US Dollar is extending gains, while commodity currencies and the Yen were the worst performing currencies in the past 24 hours. AUD/USD fell to 0.76 after another fail to break above 0.77, while NZD/USD declined below 0.72. Meanwhile, USD/JPY is slowly approaching the 103 level.
The Pound remains under pressure, and the daily close below 1.2790 support suggests further losses are ahead. The Euro continues to consolidate, as it bounced off 1.1140 support and rallied back above 1.12.
Upcoming Events:
- 08:45 BST – Italian Services PMI
- 08:50 BST – French Services PMI
- 08:55 BST – German Services PMI
- 09:00 BST – Euro Zone Services PMI
- 09:30 BST – UK Services PMI
- 10:00 BST – Euro Zone Retail Sales
- 13:15 BST – US ADP Nonfarm Employment Change
- 13:30 BST – US Trade Balance
- 13:30 BST – Canadian Trade Balance
- 14:45 BST – US Services PMI
- 15:00 BST – US ISM Non-Manufacturing PMI
- 15:30 BST – US Crude Oil Inventories
