Market Comment |
Australia |
| The S&P/ASX 200 index edged down 0.11% or 5.603pts to 5197.25 (day range: 5202.9 – 5164.2) on Wednesday. The index is above its 20d MA (@ 5123) and above its 50d MA (@ 5185). 68% of the index constituents are above their 20D MA (unchanged from the previous session) and 56% of the shares are above their 50D MA (vs 57%).
Australian consumer confidence index rose 4.2% MoM in October (vs -5.6% in September), according to Westpac Banking and the Melbourne Institute. |
Foreign Exchange |
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| The US dollar was under pressure against all its major counterparts on Wednesday. On the economic data front, MBA Mortgage applications fell 27.6% last week from an increase of 25.5% the week before. Retail sales rose 0.1% in Sept, below the 0.2% estimate. Wholesale prices declined 0.5% in Sept.
The Euro was mixed against its major pairs, lower against the NZD, CHF and GBP. In Europe, euro-zone industrial production decreased 0.5% in August, as expected after a 0.8% rise the month before (revised from +0.6%). UK ILO unemployment rate was down at 5.4% for the June-August period vs 5.5% in the previous one. It was anticipated to be flat. The Australian dollar was lower against all its major pairs except for the HKD and USD. |
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