Global Markets: 

  • Asian stock markets: Nikkei up 1.70 %, Shanghai Comp fell 0.10 %, Hang Seng rose 0.50 %, ASX rallied 0.30 %
  • Commodities: Gold at $1224 (-0.20 %), Silver at $18.51 (-0.05 %), Crude Oil at $91.88 (-0.15 %)
  • Rates: US 10 year yield at 2.65

News & Data: 

  • New Zealand Credit Card Spending 4.2 % vs 4.5 % previous
  • New Zealand ANZ Consumer Confidence 1.8 % vs -5.4 % previous
  • Japan Leading Index 105.4 vs 105.9 previous
  • Japan Coincident Index 109.9 vs 109.9 previous

FX Overview: 

USD/JPY rallied above 109.00 overnight, driven by GBP/JPY buying and a fresh 7-year high in the Nikkei stock index. The topside was capped at 109.45, just ahead of the 109.50 barrier option, amid profit-taking flows and option-related supply. Not much resistance until 110 now, but there will be good selling interest around that level, so an easy break above seems rather unlikely.

GBP was in the focus overnight and it seems very likely that Scotland has voted against independence. The Pound is slightly under pressure as we head into the London open, as that outcome was widely expected and traders decided to take some profits.

Upcoming Events: 

  • 12:30 GMT – Canada CPI (0.2 % MoM, 2.1 % YoY)
  • 14:00 GMT – US Leading Indicators (0.4 %)