| Market Comment |
| Australia |
| The S&P/ASX 200 index was down 2.07% or 105.42pts to 4998.13 (day range: 5103.6 – 4988.8) on Wednesday. The index is below its 20d MA (@ 5110) and below its 50d MA (@ 5340). 27% of the index constituents are above their 20D MA (vs 39% the previous session) and 24% of the shares are above their 50D MA (vs 30%).
Australia’s July leading index was 103.7 (vs 103.4 in June) and coincident index was 108.4 (vs 108.2 in June), according to the New York-based Conference Board. |
| Foreign Exchange | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| The US dollar was higher against its major counterparts on Wednesday except for the EUR. On the economic data front, MBA mortgage applications rose 13.9% for the week ending Sept 18 from -7% in the week prior. MARKIT US Manufacturing PMI came in at 53, above the 52.8 estimate.
The Euro was higher against its major counterparts. In Europe, euro-zone PMI composite index was down to 53.9 in September in first estimation from 54.3 in previous one. It was expected to be 54. French GDP was confirmed flat in 2Q, as anticipated. The Australian dollar was under pressure against its major pairs. |
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