Market Comment |
Australia |
| The S&P/ASX 200 index edged up 0.06% or 3.068pts to 5125.69 (day range: 5150.1 – 5083.2) on Thursday. The index is below its 20d MA (@ 5235) and below its 50d MA (@ 5163). 41% of the index constituents are above their 20D MA (vs 40% the previous session) and 60% of the shares are above their 50D MA (unchanged).
Australia’s jobless rate was 5.9% in October (vs 6.2% expected and in September), according to the government. New Zealand: The BNZ-BusinessNZ Performance of Manufacturing Index posted 53.3 in October (vs 55.0 in September). New Zealand’s food-price index fell 1.2% MoM in October (vs -0.5% in September), according to the government. |
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| The US dollar was mixed against all of its major counterparts on Thursday. On the economic data front, US Initial jobless claims held steady at 276K for the week ending Nov 7. Continuing claims reported 2174K for the week ending Oct 31, up from a revised 2169K prior. The US Bloomberg consumer comfort index increased to 41.6 from 41.1 prior. Finally, the U.S. October budget deficit came in at $136.5B from a deficit of $121.7B last year.
The Euro was higher against most of its major pairs with the exception of the AUD, CHF, and EUR. In Europe, euro zone industrial production fell 0.3% in September after a 0.4% slide a month earlier. Economists anticipated a 0.1% drop. German consumer prices were flat in October, as anticipated. They decreased by 0.2% in September. The Australian dollar pushed higher against all of its major pairs. |
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