Market Comment |
Australia |
| The S&P/ASX 200 index jumped 1.33% or 69.289pts to 5279.69 (day range: 5284 – 5210.4) on Friday. The index is above its 20d MA (@ 5102) and above its 50d MA (@ 5213). 89% of the index constituents are above their 20D MA (vs 79% the previous session) and 64% of the shares are above their 50D MA (vs 49%).
Australia’s home loans rose 2.9% MoM in August vs -0.3% in July, according to the Australian Bureau of Statistics. |
Foreign Exchange |
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| The US dollar was weaker against all its major counterparts except for the GBP and JPY on Friday. On the economic data front, The US Import price index dropped 0.1% MoM in Sept from a revised drop of 1.6% in Aug. (-0.5% estimate). On a YoY basis, overall US import prices are down 10.7%.
The Euro was higher against its major pairs with the exception of the AUD. In Europe, French industrial production increased 1.6% in August after being down by 1.1% in July (revised from -0.8%). Economists anticipated a 0.6% rise. UK trade balance deficit narrowed to £3.268B in August from £4.4436B in July. Consensus expected a £2.15B deficit. The Australian dollar was higher against all its major pairs. |
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