- PBOC Sets Yuan Mid-Point at 6.3406 / Dollar Vs Last Close 6.3453.
- PBOC D/Gov- China's Stock Market Correction "Almost Over".
- IMF Deputy MD - Japan Should Proceed With 2nd Sales Tax Hike Scheduled April '17.
- IMF D/MD - Both Positives and Negatives to Weak Yen, Most Important To Avoid Excess Volatility.
- IMF Deputy MD - Japan Consumer Prices Rising Gradually, Excluding Effect of External Factors Such As Oil.
- NZ S/Adjusted Median House Price Prices +3.5% in September on previous Month.
- NZ S/Adjusted Median House Price Prices +14.9% in Sept on Year Ago.
- Fed's Stanley Fischer Says Economy Continues Growing but with Considerable Uncertainty Due to Global Economic and Financial Conditions.
- Fischer says Anticipates First Fed Rate Hike this Year but says that is "An Expectation, not a Commitment".
- Fischer- Shifting Expectations about Fed's Policy could itself be a Source of Volatility, but says Officials Cannot Communicate More Than Facts Warrant.
- Fischer Says Fed Decision to Delay Rate Hike in September Meant to Allow More Time to Assess Developments Globally and Particularly In China.
- Fischer- Does not Anticipate Recent Events will have a Significant Effect on Fed Policy, But Notes "Disappointing" Recent Jobs Report and Slow Export Growth.
- Fed's Fischer says Slowing Rate of Job Growth Still Adequate to Absorb Remaining Slack in U.S. Labor Market.
- Fischer Says Drag of Low Oil Prices on U.S. Investment Appears to be Waning.
- Fischer Says Exports may be restrained by Strong Dollar for "Somewhat Longer".
- (0245 ET/0645 GMT) France Current Account.
Key Events Ahead
- Japan markets were closed for Health-Sports Day and US markets will remain closed on Monday for Columbus Day.
- (0810 ET/1210 GMT) US Fed's Lockhart speaks.
- (1030 ET/1430 GMT) US Fed's Evans speaks
- N/A UK BOE's Martin Weale speaks.
- (1630 ET/2030 GMT) US Fed's Brainard speaks.
FX Recap
EUR/USD: Public holidays in Japan and the US make for a quieter start in the Asia, with limited movements across the FX board amid low volumes. The pair soared over the week, buoyed mainly by the dovish FOMC minutes, which undermined the greenback globally. An absolute data-empty European session to kick-off an eventful week ahead, with the inflation data from both sides of the Atlantic to dominate the financial markets. It made intraday high at 1.1376 and low at 1.1352 levels. Initial support is seen around at 1.1015 and resistance at 1.1560 levels.
USD/JPY: Pair traded around a flat-line above the 120 handle, with the downside supported at the hourly 100-SMA while the gains limited by a broadly weaker US dollar. Japan markets were closed for Health-Sports Day and US markets will remain closed on Monday for Columbus Day. Pair made intraday high at 120.25 and low at 120.08 levels. Initial resistance is seen at 123.20 and support is seen at 118.42 levels.
GBP/USD: Pair remained at the higher ranges of the $1.53 level, keeping some of the early morning gains amid concerns around the timing of the Federal Reserve (Fed) rate hike. Sterling was up 0.13% at $1.5328 against the greenback, after hitting an intraday high of $1.5336 earlier in the session. Pair made intraday high at 1.5336 and low at 1.5306 levels. Initial support is seen at 1.5107 and resistance is seen around 1.5725 levels.
NZD/USD: Kiwi struggles to extend beyond 0.67 handle, clinching gains on oil price rally. Pair rises to 0.6706, up 0.11% so far. Cheaper fuel prices, past strength in the New Zealand dollar, and now renewed strength in the currency all paint a soft picture for New Zealand's inflation outlook, putting greater pressure on the central bank to do more to achieve its target. Pair made intraday high at 0.6706 and low at 0.6671 levels. Initial support is seen at 0.6235 and resistance at 0.6721 levels.
AUD/USD: The Australian dollar was on an upward trajectory over the past week, taking advantage of the US dollar's weakness in a week that saw central banks dominate market focus. The Australian currency was trading at a seven-week high at the end of the week following the dovish Federal Open Market Committee (FOMC) minutes from the meeting that took place in September 16 - 17. Looking towards the North American session, Fed officials' Lockhart and Evans are scheduled to deliver speeches at their respective events. Pair made intraday high at 0.7346 levels and low around 0.7304 levels. Initial support is seen at 0.6908 and resistance at 0.7438 levels.
Equity Recap
Japan markets were closed for Health-Sports Day and US markets will remain closed on Monday for Columbus Day.
Hong Kong's benchmark Hang Seng index advanced 0.59% to 22,592.41 points at the opening bell, and mainland China's benchmark Shanghai Composite grew 0.35% to 3,194.39 points at the same time.
Korea's benchmark Kospi index rose 0.14% to 2,022.45 points on Monday morning.
The benchmark Australian S&P/ASX 200 index fell 0.73% to 5,241.20 points in Sydney, with oil miners and banks weighing on the index.
New Zealand's benchmark S&P/NZX 50 index rose 0.71% to 5,678.57 points this afternoon in Wellington.
Australia's S&P/ASX 200 index closes down 0.99 pct at 5,227.60 points.
Treasury Recap
South Korea sells 5-year treasury bonds at average yield of 1.82 pct -finance ministry.
Thailand 15 bln baht, 187-day Treasury bill average accepted yield 1.43846 pct. Thailand 15 bln baht, 28-day Treasury bill average accepted yield 1.41138 pct.
New Zealand government bonds were mostly steady, though 10-year yields reached their highest in three months at 3.48 percent.
Australian government bond futures eased to two-week lows, with the three-year bond contract off 2 ticks at 98.120. The 10-year contract shed one tick to 97.2550.
Commodity Recap
Gold was trading near a seven-week high on Monday bolstered by a weaker dollar and expectations the Federal Reserve will not hike U.S. interest rates this year. Spot gold was little changed at $1,157.70 an ounce by 0346 GMT, after gaining 1.6 percent in the previous session. The dollar was close to a three-week low.
Oil prices climbed on Monday after US rig counts slipped for another week and OPEC officials sounded optimistic about the outlook, while a weaker US dollar helped to boost demand for the commodity. Futures for WTI rose 0.58% to trade at $49.92 per barrel, while Brent futures were traded 0.49% higher at $53.17 per barrel.
