The highlight of the Asian session was the miss on Australian CPI, this caused the Aussie Dollar to come under significant selling pressure as traders piled into FI markets. The Equity market also went bid initially before selling off to fresh daily lows only to recover and finish slightly ahead on the day. This close was inline with most equity markets which saw small gains on the day (Nikkei +0.09%, Hang Seng +0.73%, Shanghai Comp +0.12% & S&P/ASX +0.09%). Other Bond markets failed to benefit from the euphoria in the Aussie markets, with Treasuries probing the downside and JGB's finishing 4 lower. Volume was a mediocre 67k lots in Dec Ten Years which remained in a tight 3 tick range. In FX space other than the movement in AUD, all was quiet with the USD finishing marginally up on the session. Elsewhere Gold slipped to 2½ week lows while Oil traded close to the previous days highs. Also overnight China wrapped up its 19th National Congress without a showing a clear successor to Xi.
Key Headlines
-Australia Skilled Vacancies M/M (Sep) 0.0%, previous +0.3%
-Australia CPI Data (Q3) Q/Q +0.6% versus +0.8% expected, previous +0.2%. Y/Y +1.8% versus +2.0% expected, previous +1.9%.
-The PBoC set the yuan mid-point at 6.6322 against the Dollar. Injecting 100 Bln yuan via 7-day reverse repos & 60 Bln yuan via 14-day reverse repos
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