Market Comment |
Australia |
| The S&P/ASX 200 index increased 2.07% or 105.878pts to 5221.13 (day range: 5221.13 – 5115.2) on Wednesday. The index is above its 20d MA (@ 5197) and below its 50d MA (@ 5429). 50% of the index constituents are above their 20D MA (vs 31% the previous session) and 34% of the shares are above their 50D MA (vs 24%).
Australia: The Westpac-Melbourne Institute Consumer Confidence Index fell 5.6% MoM in September (vs +7.8% in August). Australia’s home loans rose 0.3% MoM in July vs +4.8% in June, according to the Australian Bureau of Statistics. |
Foreign Exchange |
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| The US dollar was mixed against its major counterparts on Wednesday. On the economic data front, MBA Mortgage applications index fell -6.2% for the week ending Sept 4 compared to an increase of 11.3% in the week prior.
The Euro was weaker against all its major counterparts except for the CAD, GBP and JPY. In Europe, UK industrial production slid 0.4% in July, at the same pace than in June. Economists anticipated a 0.1% increase. Separately, UK trade balance deficit climbed to £3.37B in July from £0.81M the month before. The Australian dollar was higher against most of its major pairs except for the CHF and NZD. |
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