Market Roundup
•Australia Building Approvals (MoM) (Sep) 12.0%, 12.0%forecast,-3.6% previous
•Australia Private House Approvals (Sep) 4.0%,4.0% forecast,-1.0% previous
•Japan Coincident Indicator (MoM) (Sep) 1.8%, -1.3% previous
•Japan Leading Index (Sep) 108.0, 107.9 forecast,107.0 previous
•Japan Leading Index (MoM) (Sep) 1.0%,1.3% previous
Looking Ahead Economic Data(GMT)
•09:30 EU Sentix Investor Confidence (Nov) -3.9 forecast,-5.4 previous
•10:00 Greece CPI (YoY) (Oct)1.9% previous
•10:00 Greece HICP (YoY) (Oct) 1.8% previous
•10:00 Greece Industrial Production (YoY) (Sep) -2.9% previous
Looking Ahead Events And Other Releass(GMT)
•No events Ahead
Looking Ahead Events And Other Release(GMT)
• No events Ahead
Currency Forecast
EUR/USD : The euro edged lower on Monday as greenback firmed optimism grew that the historic U.S. government shutdown could soon end. The U.S. Senate advanced a measure to reopen the government after a 40-day closure that has left federal workers unpaid, disrupted food aid, and snarled air travel. Lawmakers plan to amend a House-passed bill to fund operations through January 30 and include three full-year appropriations. The prolonged shutdown has increasingly weighed on the U.S. economy and left the Federal Reserve with limited economic data. Immediate resistance can be seen at 1.1560(Daily high), an upside break can trigger rise towards 1.1614(50%fib).On the downside, immediate support is seen at 1.1475(23.6%fib), a break below could take the pair towards 1.1462(Lower BB).
GBP/USD: Sterling eased slightly against the dollar on Monday as optimism grew that an end to the historic U.S. government shutdown could be near. The U.S. Senate moved closer to a vote on reopening the government after bipartisan negotiations made progress over the weekend. The 40-day shutdown has weighed heavily on the U.S. economy, leaving federal employees unpaid and restricting key data releases, forcing the Federal Reserve to operate with limited information. White House economic adviser Kevin Hassett warned that fourth-quarter GDP could turn negative if the shutdown continues, while Friday’s data showed consumer sentiment slumping to a 3-1/2-year low in early November. Overall risk sentiment remained upbeat .Immediate resistance can be seen at 1.3178(38.2%fib), an upside break can trigger rise towards 1.3262(SMA 20).On the downside, immediate support is seen at 1.3000(Psychological level), a break below could take the pair towards 1.2977(Lower BB).
AUD/USD: The Australian dollar firmed on Monday after comments from RBA Deputy Governor Andrew Hauser boosted confidence in the country’s economic outlook. Speaking at a UBS conference in Sydney, Hauser said Australia’s economy continues to see demand outpacing potential output, marking the tightest recovery since the early 1980s. The RBA left interest rates unchanged at 3.6% last week, adopting a more cautious stance after three rate cuts this year amid rising inflation, firm consumer demand, and a strengthening housing market. Attention now turns to Australia’s October employment report due Thursday, with a Reuters poll forecasting a 15.0K job gain and unemployment steady at 4.4%..Immediate resistance can be seen at 0.6603(38.2%fib), an upside break can trigger rise towards 0.6655(Higher BB).On the downside, immediate support is seen at 0.6538(50%fib), a break below could take the pair towards 0.6466(61.8%fib)
USD/JPY: The U.S. dollar edged higher against the yen on Friday amid reports suggesting Japan’s new government could adopt a more flexible fiscal stance. Prime Minister Sanae Takaichi is reportedly preparing an economic package aimed at supporting growth while maintaining price stability, encouraging the BOJ to pursue a balanced policy approach. The plan, due for finalization on November 21, will include measures to offset rising living costs and bolster defense and investment. BOJ policymakers, meanwhile, remain cautious, emphasizing the importance of sustained wage growth before considering further policy adjustments. Immediate resistance can be seen at 154.58(23.6%fib) an upside break can trigger rise towards 155.00 (Psychological level) .On the downside, immediate support is seen at 152.90 (38.2%fib) a break below could take the pair towards 152.98 (SMA20).
Equities Recap
Asian equities rose on Monday as markets globally gained on optimism that the prolonged U.S. government shutdown may soon end.
Hang Seng was up 1.55% ,South Korea’s KOSPI traded up 3.02% ,Japan’s Nikkei 225 was up 1.33%
Commodities Recap
Gold prices climbed to a two-week high on Monday, supported by growing expectations of another Federal Reserve rate cut in December and a series of weak economic reports that fueled concerns over a global slowdown..
Spot gold gained 1.4% to $4,053.40 per ounce by 0435 GMT. U.S. gold futures for December delivery rose 1.3% to $4,062.40 per ounce.
Oil prices rose on Monday amid optimism that a resolution to the U.S. government shutdown could soon boost demand in the world’s largest oil consumer, offsetting concerns over rising global supply.
Brent crude futures rose 45 cents, or 0.71%, to $64.08 a barrel by 0426 GMT. U.S. West Texas Intermediate crude was at $60.23 a barrel, up 48 cents, or 0.80%.
