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…
