A very dull and lacklustre Asian session with low volumes and and a lack of any market moving news. Maybe President Xi Jinping extended speech at the Communist Party Congress had everyone glued to their seats as Equities consolidated recent gains in very light volumes (Nikkei +0.04%, Hang Seng +0.00%, Shanghai Comp +0.27% & S&P/ASX +0.11%). Bond markets were also subdued with Dec Ten Years stuck in a 1.5 tick range with only 23k contracts exchanging hands. JGB's were also quiet and unable to break out of the previous days range, while Aussie Bonds faired a little better with both 3's & 10's pushing up to multi week highs. The currency markets were also quiet with $/Yen stuck in a tight 13 pip range and eur/usd finishing unchanged on the day. Oil and gold also traded in light volumes with both making small gains on the day.
Key Headlines:
-Australia’s Sept. Leading Index Rises 0.08% M/m to 97.43
-TRUMP: PLAN IS BIGGEST REDUCTION IN TAXES IN HISTORY OF U.S.
-SAKURAI: KEY FOR BOJ TO CONTINUE ITS POWERFUL EASING PROGRAM
-PBOC sets USD/CNY mid-point today at 6.5991 (vs. yesterday at 6.5883)
-HARKER SEES ONE MORE RATE INCREASE IN 2017: WSJ
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