Market Comment |
Australia |
| The S&P/ASX 200 index dropped 0.2% or 10.929pts to 5335.22 (day range: 5354.9 – 5319.4) on Wednesday. The index is above its 20d MA (@ 5235) and above its 50d MA (@ 5158). 73% of the index constituents are above their 20D MA (vs 77% the previous session) and 78% of the shares are above their 50D MA (vs 77%).
Australia’s CPI rose 1.5% YoY in 3Q vs +1.5% in 2Q, according to the Australian Bureau of Statistics. |
Foreign Exchange |
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| The US dollar was higher against all of its major counterparts with the exception of the CAD on Wednesday. On the economic data front, MBA mortgage applications fell 3.5% last week compared to an increase of 11.8% the week before. The Fed kept the target rate at 0.25% saying ” The U.S. Economy has been expanding at a moderate pace”
The Euro was lower against most of its major pairs except for the NZD and AUD. In Europe, German import prices fell 0.7% in September after a 1.5% drop a month earlier. Economists anticipated a 0.2% slide. Separately, GfK consumer confidence index was down to 9.4 in November, as expected, from 9.6% in October. The Australian dollar was under pressure against all its major pairs except for the NZD. |
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