Market Comment |
Australia |
| The S&P/ASX 200 index dropped 1.18% or 60.124pts to 5052.02 (day range: 5119.2 – 5042.8) on Friday. The index is below its 20d MA (@ 5078) and below its 50d MA (@ 5256). 55% of the index constituents are above their 20D MA (vs 60% the previous session) and 37% of the shares are above their 50D MA (vs 38%).
Australia’s new home sales roe 2.3% MoM in August vs -1.8% in July, according to the Housing Industry Association. Australia’s retail sales rose 0.4% MoM in August vs -0.1% in July, according to the Australian Bureau of Statistics. |
Foreign Exchange |
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| The US dollar was under pressure against its major counterparts on Friday with the exception of the AUD. On the economic data front, The US unemployment rate was steady at 5.1% for September. US Nonfarm Payrolls declined to 142K below the 201K estimate for September. August Nonfarm payrolls were revised lower to 136K from 173K previously reported. US factory orders slowed as inventory draw down continued. Orders fell 1.7% in August from a revised 0.2% increase in July.
The Euro was mixed against its major pairs. In Europe, PPI Index fell 0.8% in August after being down 0.2% in July (revised from -0.1%). Economists anticipated a 0.6% decline. UK PMI construction index was up to 59.9 in September from 57.3 a month earlier. Consensus expected 57.5. The Australian dollar was under pressure against all of its major pairs. |
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