Friday 27th October: European Open Briefing

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Friday 27th October: European Open Briefing 1

Global Markets:

  • Asian stock markets: Nikkei up 1.20 %, Shanghai Composite rose 0.28 %, Hang Seng climbed 0.83 %, ASX 200 down 0.83 %
  • Commodities: Gold at $1269.05 (-0.04 %), Silver at $16.78 (-0.13 %), WTI Oil at $52.62 (-0.04 %), Brent Oil at $59.38 (0.13 %)
  • Rates: US 10-year yield at 2.46, UK 10-year yield at 1.38, German 10-year yield at 0.41

News & Data:

  • (AUD) PPI q/q 0.2 % vs 0.4 % expected
  • (EUR) Minimum Bid Rate 0.00 % vs 0.00 % expected
  • (USD) Unemployment Claims 233 K vs 235 K expected
  • (USD) Pending Home Sales m/m 0.0 % vs 0.2 % expected
  • (EUR) Spanish Unemployment Rate 16.4 % vs 16.6 % expected
  • (EUR) M3 Money Supply y/y 5.1 % vs 5.0 % expected
  • Dollar buoyant after ECB sends euro to three-month lows
  • Oil markets tighten, Brent approaches $60 per barrel – RTRS

Markets Update:

Asia equity markets rose on Friday following gains in U.S equities. Technology shares were boosted by upbeat earnings from U.S. high-tech giants while the euro hovered near three-month low against the dollar after the European Central Bank extended its stimulus. Australian assets took a hit after the government lost its majority.

USDJPY moved little early on Friday hovering around Wednesday’s three month high of 114.245, Overall the Yen lost 0.1 percent against the dollar with the pair currently seen trading at 114.10. Nikkei 225 tacked on over 1.0 percent as the dollar strengthened against the Yen. Most tech stocks, automakers and financials climbed during the session.

EURUSD is currently seen trading around 1.1636 after stance sent the euro to a three-month low of 1.1624 against the US Dollar. Overall the Euro is down 0.1 percent against the US Dollar today continuing its 1.4 percent drop on Thursday.  The dollar index, which tracks the dollar against a basket of currencies gained 0.1 percent following a 0.7 percent gain on Thursday and is currently valued at 94.78

AUDUSD reached lows of 0.7625 as the Aussie dollar lost close to 0.4 percent against the US Dollar. Currently AUDUSD is seen trading above 0.7640. Australian politics were at the fore today as the government lost majority with their deputy prime minister and 4 senators kicked out of parliament for being dual citizens. The kiwi after creating fresh lows below 0.6820 has recovered partially as the New Zealand dollar is seen trading around 0.6840 against the US Dollar.

Upcoming Events:

  • 06:00 GMT – (EUR) German Import Prices m/m
  • 12:30 GMT – (USD) Advance GDP q/q
  • 12:30 GMT – (USD) Advance GDP Price Index q/q
  • 14:00 GMT – (USD) Revised UoM Consumer Sentiment

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