Market Comment |
Australia |
| The S&P/ASX 200 index increased 0.29% or 14.87pts to 5133.11 (day range: 5145.5 – 5082.7) on Wednesday. The index is below its 20d MA (@ 5199) and below its 50d MA (@ 5161). 46% of the index constituents are above their 20D MA (vs 40% the previous session) and 62% of the shares are above their 50D MA (vs 60%).
Australia: The Conference Board Leading Economic Index declined 0.1 percent in September to 103.5, according to the Conference Board. Australia’s Westpac leading economic index rose 0.12% MoM to 97.74 in October, according to Westpac Banking and Melbourne Institute. |
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| The US dollar was higher against its major counterparts on Wednesday with the exception of the GBP. On the economic data front, MBA Mortgage Applications rose 6.2% last week compared to a decrease of 1.3% the week before. Housing Starts in the US fell to 1060K in Oct from a revised 1191K in Sept due primarily to a decline in apartment construction. Finally, Building Permits increased to 1160K in Oct, above the economist forecast of 1147K.
The Euro was higher against its major pairs except for the GBP. There was no major economic news reported in Europe. The Australian dollar was under pressure against all of its major pairs except for the CHF. |
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