Market Comment |
Australia |
| The S&P/ASX 200 index jumped 1.42% or 73.465pts to 5239.22 (day range: 5246.4 – 5165.8) on Tuesday. The index is below its 20d MA (@ 5256) and above its 50d MA (@ 5163). 70% of the index constituents are above their 20D MA (vs 59% the previous session) and 76% of the shares are above their 50D MA (vs 69%).
Australia’s central bank maintained its cash rate target at 2.00% (as expected). Australia: The ANZ Roy Morgan Consumer Confidence Index rose 1.6% WoW to 115.2 in the week ended November 1. |
Foreign Exchange |
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The US dollar was higher against most of its major counterparts except for the AUD and CAD on Tuesday. On the economic data front, US Manufacturers new orders declined 1% in September from a revised decline of 2.1% in August. The decline was more than the (-0.9%) expected.
The Euro was under pressure against most of its major pairs except for the NZD. In Europe, UK PMI construction index fell to 58.8 in October, as expected, from 59.9 a month earlier. The Australian dollar pushed higher against all its major pairs. |
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