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Key Data Being Released Today
| Japan – | Services PMI | ||||
| Eurozone – | Manufacturing PMI (Oct) | ||||
| S&P Global Composite PMI (Oct) | |||||
| Services PMI (Oct) | |||||
| United Kingdom – | Composite PMI | ||||
| Manufacturing PMI | |||||
| Services PMI | |||||
Macro Report
Aussie PMI for October came in this morning, weaker than expected. Manufacturing PMI dropped to 52.8 versus a prior print of 53.5, while Service PMI published lower at 49.0 compared to the previous 50.5 figure. The AUD/USD currency pair eased on this downbeat data after witnessing strong upward momentum on Saturday.
The pair hit a high of 0.6413 this morning before slipping to 0.6359 at the time of writing. With FOMC’s 2-week period of silence among us, the AUD/USD may be restricted, but economic data released this week will be watched closely.
Aussie CPI data is up for publishing this week on Wednesday. The CPI data will be critical, considering data is only released once per quarter. Inflation printed 6.1% (YoY) previously, lower than the US, Europe and UK, and is expected to increase to 7.0%. Renewed CPI figures could pivot the RBA’s interest rate decision following its surprising 25 basis point rate hike.
Meanwhile, this eventful week ahead also brings third-quarter GDP figures for US and China. BOC, ECB and BOJ will announce interest rate decisions. Additionally, flash PMI data will also be eyed as markets eagerly await indications of changing economic conditions.
AUD/USD Daily Chart
DXY (USD INDEX) Daily Chart
Major Global Markets
| Currencies | Level | Change (%) |
| AUD/USD | 0.6359 | -0.31 |
| AUD/JPY | 95.1080 | 0.97 |
| AUD/CNH | 4.6222 | 0.27 |
| DXY | 112.1660 | 0.14 |
| Rates | Yield (%) | Change |
| US 10 Year | 4.22 | -0.16 |
| Aus 10 year | 4.18 | -0.83 |
| Equities | Level | Change (%) |
| S&P 500 | 3,752.75 | 2.37 |
| NASDAQ | 10,859.72 | 2.31 |
| ASX 200 | 6,676.76 | -0.80 |
| Commodities | Level | Change (%) |
| Iron Ore | 94.50 | 0.53 |
| Gold | 1,663.40 | 0.43 |
| Brent Crude oil | 93.62 | 0.13 |