FX Letter: ·
CPI data for Australia usually arrived as expected. This makes it less likely that the will will cut in November, although expectations were only around 20%. The trimmed average (the preferred RBA meter) remains stable at 1.6% yo-yo and 0.4% QoQ, although the weighted average was lowered to 1.2% yo-yo (1.3% earlier) and 0.3% QoQ (0.4% earlier). Still – it is possible that RBA can reach the new year without further relaxation, unless employment changes completely in the meantime. in Japan rose 9.1% yoy in September – although this newly discovered hunger for & # 39; things & # 39; in fact, the rush was to beat the October sales tax. If history is repeated, expect retail tank sales in the coming months. We have seen a few lashes about AUD and NZD pairs, but with volatility that generally remains low, it cannot be deciphered too much. Other than it was a press release (AU CPI) and we trade back near open prices. And of course traders await the highly anticipated today and that of Powell.
Asian money indices% change
Stock overview:
Nearly all Asian stock markets are profitable after 3 to 5 days of consecutive earnings, while traders await the outcome of the Fed FOMC meeting and release future US monetary policy guidelines later in the second half of the US session. Later after the end of the US session, technology bellwether Apple (NASDAQ 🙂 will report its fourth quarter tax revenue and will include 10 days of its new iPhone 11 sales. The usual "hot and cold" cycle of the trade-related news flow from the US and China is also coming back to the market. Reuters had reported that a US government official said an interim agreement between the US and China may not have been completed in time for signature in November, but the official had added that this did not mean the deal was falling apart. This comment went against US President Trump's earlier optimism, in which he expected to sign "Phase 1 of the trade agreement" with the Xi of China at the upcoming APEC summit in November 16-17. The worst performer today is that of Australia, which has declined nearly -0.80% led by stocks of mining and natural resources. BHP, Rio Tinto (LON 🙂 and Fortescue Metals shed -1.3%, -1.2% and -1.6% respectively against the background of weaker iron ore futures -price . Against the profit trend trend is the Straits Times Index (STI) of Singapore, which achieved a modest profit of 0.33% under the leadership of the three banks; DBS, UOB and OCBC have increased by 1.30%, 0.64% and 0.93% respectively. UOB will report its Q3 earnings next Friday, November 1, before market opening. The S&P 500 E-Mini futures acted almost unchanged as during today's Asian mid-session with a tight range of 5 points after falling 0.08% from its new all-time high of 3046, squeezed in cash yesterday S&P 500 index.
Up Next
Data from the US is the first major event, and it is expected to soften from 2% yoy to 1.6%. Fed Atlanta GDP, however, expects it to fall to 1.7%, leaving room for a small positive surprise from the main event. The Fed and BOC hold their policy meetings, which are more than likely to take precedence over the second layer of economic data available in the European. View the previews for an overview of how things could play out.
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