Major Economic Data to keep an eye on:
Make sure to keep track of economic news related to your open positions.
A busy schedule a head of us today.
GBP – Core CPI (MoM+YoY) – 9:30 GMT
GBP – Core PPI Output (MoM+YoY) – 9:30 GMT
GBP – Core RPI (MoM+YoY) – 9:30 GMT
EUR – German ZEW Economic Sentiment – 10:00 GMT
USD – NY Empire State Manufacturing Index – 13:30 GMT
USD – FOMC Member Dudley Speaks – 15:00 GMT
NZD – CPI (QoQ) – 22:45 GMT
Senate leaders said Monday afternoon they were optimistic about a deal to reopen the government and raise the U.S. debt ceiling, as a White House meeting was put on hold to allow them more time to negotiate.
Over in the U.S., even as the agreement to end the partial government shutdown and extend the debt ceiling remained elusive, The S&P 500 added 0.4%, extending its year-to-date gain to about 20%.
Volatility is the new game in town, and down open in the U.S. Markets after a weekend without any concrete progress in Washington turned into a modest gain after the dip buyers step in and push the markets to close in a positive territory.
The Treasury market was closed for Columbus Day, and the holiday had a visible impact on trading volume as only 575 million shares changed hands on the floor of the New York Stock Exchange.
During the trading day today the October Empire Manufacturing Survey will be released.
Most China stocks fell this morning, with the benchmark index dropping for the first time in three days. But in rest of Asia, most stocks trades higher Tuesday on wind of optimism that U.S. policymakers are close to an agreement to end this too long government shutdown.Economists expect China, the world’s second-largest economy to post third-quarter GDP growth of 7.8% after notching 7.5% growth in the second quarter.
Japan’s Nikkei 225 is playing around the flat line after the Japanese markets were closed for a holiday the previous day.
The Australian dollar is still around 10% below its peak in April. The central bank has been steadfast in its view that the Aussie is overvalued and that it would like to see the currency fall further, a move that will help the industry in the country.
The U.S. dollar was mixed against its major rivals during Asian’s session as traders monitored news out of Washington regarding the possibility of an announcement that will put things back on track and the government will reopen soon.
EUR/USD inching higher to 1.3567, still moving side way with no definitive resolution.
USD/JPY lost 0.11% to 98.50 and it appears the yen is again being embraced as a safe haven alternative to the U.S. dollar.
GBP/USD moved up quietly to 1.5984.
USD/CHF rose to 0.9109
AUD/USD climbed 0.40% keeping the momentum from previous secessions.
Gold futures reversed course in electronic trade Tuesday, giving back a small chunk of the prior session’s gains as the precious metal continued to underperform despite the persistent fog of uncertainty that has settled over Washington.
Gold was down at $1,275 an ounce. Silver futures also follow the move in Gold and were off 13 cents to $21.23
