Market Comment |
Australia |
| The S&P/ASX 200 index was flat on Monday. The index is above its 20d MA (@ 5142) and above its 50d MA (@ 5168). 81% of the index constituents are above their 20D MA (vs 75% the previous session) and 74% of the shares are above their 50D MA (vs 64%).
The Business New Zealand and BNZ Performance of Services Index rose to 59.3 in September, the highest level since November 2007, from 58.5 in August. |
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| The US dollar was higher against its major counterparts on Monday with the exception of the GBP. On the economic data front, US Homebuilder confidence reached a decade high with the index reaching 64 for October compared to 62 in September.
The Euro was mixed against its major pairs. In Europe, euro zone construction output fell 0.2% in August after increasing 0.4% a month earlier (revised from +1%). According to Rightmove, UK house prices were up by 0.6% in October after a 0.9% rise in September. The Australian dollar was lower against all its major pairs except for the CAD and NZD. |
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