Quite the jolly session for Asian Equities, supported by the energy sector as Crude attempts a breakout higher. These developments, for the moment, have been deemed more important than the BoJ on hold and providing no forwards guidance(to ease or not to ease?). Of course, Jpy was stronger on this. Watch out for the press-conference this morning. Today is also the last day of holidays in China & Hong Kong, and they will both return to the markets tomorrow.
FOMC member John Williams (dove/neutral, voter) said that he still think it makes sense to raise rates this year and that the FOMC has ‘to make the right decision’ regardless of market expectations.
Australia’s Sept AiG Performance of Construction Index fell from 53.8 to 51.9. However, RBA Assistant Gov. Debelle will be speaking this morning at 8 BST so watch out for that. Aud shrugged off the data and continues to rise, helped by crude.
UK industrial production and manufacturing output are today’s key data releases.Otherwise, there is a steady stream of mostly second-tier data before we get to the next key central bank announcements (BoE and ECB tomorrow).
Going into today, Crude Oil is helping all Comm-Dolls rise, whereas the USD remains dull. Gbp is trying to rotate higher, and might also be interesting, just avoid opening positions right in front of the data print.
Charts for Today:
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