Market Comment |
Australia |
| The S&P/ASX 200 index was up 0.63% or 32.794pts to 5230.05 (day range: 5238.9 – 5197.3) on Thursday. The index is above its 20d MA (@ 5127) and above its 50d MA (@ 5177). 75% of the index constituents are above their 20D MA (vs 68% the previous session) and 64% of the shares are above their 50D MA (vs 56%).
Australia’s jobless rate was 6.2% in September (unchanged from the previous month) and participation rate 64.9% (vs 65.0% in August), according to the Australian Bureau of Statistics. |
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| The US dollar was mixed against all its major counterparts on Thursday. On the economic data front, Initial Jobless Claims dropped to 255K for the week ending Oct 10, the lowest level since 1973. The prior week reported a revised 262K. Continuing Jobless Claims lowered to 2158K for the week ending Oct 3 from a revised 2208K the week before. The Empire State Manufacturing index rose to (-11.36) in Oct from (-14.67) in Sept. (-8) was the estimate. CPI decreased 0.2% MoM in Sept from a decrease of 0.1% in Aug, in-line with expectations. The Philadelphia Fed Business Outlook Index rose to (-4.5) in Oct from (-6.0) in Sept.
The Euro was under pressure against all its major pairs. No major economic news was reported in Europe. The Australian dollar was higher against all its major pairs except for the NZD and CAD. |
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