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Key Data Being Released Today
| China – | Trade Balance (USD) (Oct) | |||
| United Kingdom – | Halifax House Price Index (YoY) | |||
Macro Report
Big moves are afoot in the markets again, following on from a strong Friday in Asian hours, US payrolls in the evening, then comments from China over the weekend on the countries COVID policy.
The AUD, which saw outsized gains when compared to the USD/CNY, saw upward movements of 3% and touching 0.6483. Some gains were given back on Monday morning on market open as comments on China’s commitment to zero-covid will remain in place, falling some 0.80%.
US payrolls, which acted as somewhat of a tailwind for an already bullish session, showed the unemployment rate ticking upwards to 3.7% from September’s 3.5%.
Coupled with a shifting narrative from Fed speakers, hinting at support of a slowdown in policy, has seen markets gravitate towards a 50bps rise as opposed to 75bps at the next FOMC.
A quiet start to the week will see Chinese trade figures released during Asian hours. Key data this week will be a US double header of CPI and results of Mid-term elections.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6417 | -0.76 |
| AUD/JPY | 94.27 | 0.31 |
| AUD/CNH | 4.6065 | 0.14 |
| DXY | 111.013 | 0.21 |
| Rates | Yield (%) | Change |
| US 10 Year | 4.163 | 0.014 |
| Aus 10 year | 3.900 | 0.027 |
| Equities | Level | Change (%) |
| S&P 500 | 3771 | 1.36 |
| NASDAQ | 10475 | 1.28 |
| ASX 200 | 6893 | 0.50 |
| Commodities | Level | Change (%) |
| Iron Ore | 85.16 | 2.15 |
| Gold | 1685.7 | 3.59 |
| Brent Crude oil | 98.64 | 4.19 |