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Bank of Canada Governor Macklem and Senior Deputy Rogers are speaking MondayGoldman Sachs plan to raise 10-year growth forecasts – enormous potential of generative AIECB and Riksbank speakers due on MondayPBOC sets USD/ CNY reference rate for today at 7.1781 (vs. estimate at 7.3165)Standard Chartered-owned crypto firm launches in Hong Kong: ZosiaAustralian data – September Retail Sales +0.9% m/m (vs. +0.3% expected)Australia rejected a free trade deal with the EU – “not been able to make progress”I’ve just spotted the first ‘Santa Rally’ post of the seasonCiti’s Morse says oil market is weaker than priced, also China diesel demand has peakedBank of Japan decision on JGB yield cap due this week – yen “a hissing volcano”US SEC investigating tampering at Two Sigma hedge fund: unauthorized model adjustmentsWTI & Brent oil down, equity stock indexes up – Sunday evening futures trade opensChina state media puff piece: policy bank steps up support for information infrastructureJordan asked the US to deploy Patriot air defense systems to bolster its border defenseDubai-Makhachkala aircraft effectively hijacked in Russia (Makhachkala , Dagestan)China domestic flights to jump 34% above pre-pandemic levels. Flights to US to rise also.Reports of US airstrikes on Iran-backed military bases in eastern SyriaWeekend – ECB’s Vujcic says the Bank’s rate hike cycle is over, “for now”Trade ideas thread – Monday, 30 October 2023Monday morning open levels – indicative forex prices – 30 October 2023Newsquawk Week Ahead: Highlights include FOMC, BoJ, BoE, US NFP, PMIs, and EZ CPI & GDPWeekly Market Outlook (30-03 November)Israel ground offensive underway but so far the fighting is limited to GazaForexlive Americas FX news wrap: Russell 2000 hits a three-year low, eyes on Gaza
Despite the weekend Middle East escalation oil dropped lower on the reopening for
the week in European and US Sunday evening/Monday morning Asia trade.
It managed to retrace much of its opening loss, not all, and as I post
is dribbling back to the downside again.
Major
forex rates were relatively subdued. USD/JPY had a 30 or so point
range, held in check by the imminent Bank of Japan statement due
around this time tomorrow. AUD/USD caught a bid after much better
than expected m/m retail sales growth, the quickest since January,
and firming the prospects for a November 7 Reserve Bank of Australia
rate hike. NZD/USD tracked Oz higher. The Australian government
walked away from a potential FTA with the EU after negotiations
stalled over insurmountable sticking points. AUD/USD shrugged this
off.
Asian
equity markets:
Japan’s
Nikkei 225 -1.2%
China’s
Shanghai Composite -0.3%
Hong
Kong’s Hang Seng -0.5%
South
Korea’s KOSPI +0.4%
Australia’s
S&P/ASX 200 -0.4%
(This
chart is from our charting app, which is free and can
be found at this link)
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