Market Comment |
Australia |
| The S&P/ASX 200 index was down 0.57% or 30.013pts to 5202.85 (day range: 5232.9 – 5173.3) on Tuesday. The index is above its 20d MA (@ 5118) and above its 50d MA (@ 5194). 68% of the index constituents are above their 20D MA (vs 76% the previous session) and 57% of the shares are above their 50D MA (vs 59%).
Australia’s September business conditions was 9 (unchanged from the previous month) and business confidence was 5 (vs 1 in August), according to the National Australia Bank. |
Foreign Exchange |
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| The US dollar was Higher against all its major counterparts except for the CHF, EUR and JPY on Tuesday. On the economic data front, U.S. September small business optimism rose to 96.1 from 95.9 in August.
The Euro was higher against its major pairs with the exception of the CHF. German consumer prices fell 0.2% in final estimation in September, as expected. Zew investor confidence index fell to 55.2 in October from 67.5 a month earlier. It was anticipated to be 64. UK consumer prices decreased 0.1% in September after a 0.2% rise a month before. They were expected to be flat. The Australian dollar was under pressure against all its major pairs. |
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Medium Term Strategy: Forex Pair of the day
EUR/GBP – further advance
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