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Asia Roundup: Japanese yen remains almost unchanged after manufacturing PMI, unemployment rate data; gold touches $1,513 mark in early Asia; most Asian markets in green - Friday, November 01, 2019

Market Roundup

  • Australia’s AIG manufacturing index stands at 51.6 vs 54.7 previous released.
     
  • Australia’s manufacturing PMI stands at 50.0 vs 50.3 previous released (expected 50.1).
     
  • Australia’s PPI q/q stands at 0.4 vs 0.4 previous released (expected 0.3).
     
  • Japan’s manufacturing PMI stands at 48.4 pct vs 48.9 pct previous release (expected 48.5).
     
  • Japan’s unemployment rate stands at 2.4 pct vs 2.2 pct previous release (expected 2.3).
     
  • South Korea’s CPI y/y stands at 0.0 pct vs -0.4 pct previous release (expected -0.3).
     
  • South Korea’s trade balance stands at 5.39B vs 5.98B pct previous release (expected 3.51B).
     
  • South Korea’s Nikkei manufacturing PMI stands at 48.4 vs 48.0 pct previous release (expected 48.5).

Economic Data Ahead

  • (0330 ET/0730 GMT) Swiss retail sales, CPI.
     
  • (0330 ET/0730 GMT) Thailand forex reserve, currency swap.
     
  • (0430 ET/0830 GMT) Hong Kong retail sales.
     
  • (0500 ET/0900 GMT) South Africa manufacturing PMI
    .
  • (0530 ET/0930 GMT) UK manufacturing PMI.
     
  • (0800 ET/1200 GMT) industrial production.
     
  • (0800 ET/1200 GMT) South Africa total vehicle sales.

Key Events Ahead

  • (0830 ET/1230 GMT) U.S. NFP job data.

FX Recap

USD: The U.S. dollar index that tracks the greenback against a basket of other currencies inched down 0.13% to 97.23.

EUR/USD: The euro rises gradually against U.S. dollar and currently trading around $1.1163 mark. It made intraday high at $1.1166 and low at $1.1148 mark. A sustained close above $1.1151 will drag the parity higher towards key resistances around $1.1220, $1.1390, $1.1472, $1.1550, $1.1620 and $1.1820 marks respectively. On the other hand, a consistent close below $1.1151 will drag the parity down towards key supports around $1.1079, $1.1026 and $1.0852 levels respectively.

USD/JPY: The Japanese yen remains almost unchanged after manufacturing PMI, unemployment rate data. The pair is currently trading around 108.00 mark. It made intraday high at 108.05 and low at 107.88 levels. A sustained close above 108.02 is required to take the parity higher towards key resistances around 108.83, 109.62, 112.60 and 113.98 marks respectively. Alternatively, a daily close below 108.02 will drag the parity down towards key support around 106.90 and 104.20 marks respectively.

GBP/USD: The pound trades marginally higher against U.S. dollar and stabilizes above $1.2950 mark. UK parliament approves early general election on December 12. A sustained close below $1.2940 requires for dragging the parity down towards key support around $1.2820, $1.2644 and $1.2352 mark respectively. On the other side, key resistances are seen at $1.2973, 1.3058, 1.3140 and 1.3226 levels respectively.

AUD/USD: The Aussie rises against U.S. dollar after mixed economic data. The pair made intraday high at $0.6909 and low at $0.6883 levels. A consistent close below $0.6818 requires for downside rally. On the other side, a sustained close above $0.6902 will take the parity higher towards $0.6977 and $0.7076 levels respectively.

NZD/USD: The New Zealand dollar strengthens noticeably on Friday and hits highest level since Sept 12. Pair made intraday high at $0.6442 and low at $0.6406. A sustained close above $0.6422 requires for the upside rally. Alternatively, a consistent close below $0.6349 will take the parity down towards key supports around $0.6236 and $0.6196 levels respectively.

Equities Recap

Japan’s Nikkei was trading 0.41 pct lower at 22,833.50 points.

Australia’s S&P/ASX200 was trading 0.09 pct higher at 6,669.55 points.

Hong Kong's hang seng index was trading 0.65 percent higher at 27,081.48 points.

Taiwan stock was trading 0.36 percent higher at 11,399.37 points.

South Korea’s kospi was trading 0.77 percent higher at 2,099.42 points.

India’s NSE Nifty was trading 0.07 pct lower at 11,868.80 points while BSE sensex was trading 0.08 points lower at 40,096.77 points.

Commodities Recap

U.S. Crude Oil WTI Futures were up 0.08% to $54.30. International Brent Oil Futures dropped 0.03% to $59.59.

Gold trades remarkably higher on Friday and touches $1,513 mark in early Asia. Gold faces strong resistance at $1,512 mark and sustained close above targets key resistances around $1,532 and $$1,552 mark respectively. Alternatively, a consistent close below $1,502 mark will drag the parity down towards $1,487, $1,472 and $1,440 mark respectively.

Treasuries Recap

The yield on benchmark 10-year Treasury notes was higher at 1.6962% compared with its U.S. close of 1.691% on Thursday. The two-year yield was at 1.5319%, up from a U.S. close of 1.526%.

The yield on 10 – year Australian bond was 0.60 pct lower to 1.101 points while Australia’s 15 – year bond was 0.62 pct lower to 1.212 points.

The yield on 20 – year Japan bond was -0.035 pct lower to 0.193 point.

By Aarti Panchal
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