Global Markets:
- Asian Stock Markets : Nikkei down 0.21, Shanghai Composite closed, Hang Seng down closed, ASX down 0.22%
- Commodities : Gold at $1958.45 (-0.41%), Silver at $23.45 (-0.05%), Brent Oil at $92.42 (0.26%), WTI Oil at $91.12 (0.362%)
- Rates : US 10-year yield at 4.612, UK 10-year yield at 4.533, Germany 10-year yield at 2.850
News & Data:
- (CAD) GDP m/m 0.0% vs 0.1% expected
- (USD) Core PCE Price Index m/m 0.1% vs 0.2% expected
- (USD) Revised UoM Consumer Sentiment 68.1 vs 67.7 expected
Markets Update:
Asia-Pacific stocks experienced declines despite positive manufacturing data from China, which indicated a return to expansion territory. Official data revealed that China’s factory activity in September expanded, marking the first expansion since April. The Purchasing Managers’ Index (PMI) for China climbed to 50.2 in September, surpassing Reuters’ expectations of 50.0. Notably, China’s markets were closed for the weeklong Golden Week holiday, and South Korean and Hong Kong’s markets were also observing holidays.
In Japan, the Nikkei 225 traded 0.21% lower, closing at 31,759.88, while the Topix slipped 0.39%, ending at 2,314. The sentiment among Japan’s major manufacturers improved, registering a score of 9 in the third quarter, up from 5 in the previous three months, according to the widely-watched central bank tankan survey.
Australia’s S&P/ASX 200 declined by 0.22%, closing at 7,033.2. In the United States on Friday, the three major indexes had mixed results. The Dow and S&P 500 closed the session lower by 0.5% and 0.3%, respectively, concluding a negative week for both indexes. In contrast, the Nasdaq Composite finished up 0.1%. Over the weekend, U.S. legislators managed to reach a temporary agreement, averting a government shutdown.
Upcoming Events:
- 2:00 PM GMT – USD ISM Manufacturing PMI
- 2:00 PM GMT – USD ISM Manufacturing Prices
- 3:00 PM GMT – GBP MPC Member Mann Speaks
- 3:00 PM GMT – USD Fed Chair Powell Speaks
- 3:00 PM GMT – USD FOMC Member Harker Speaks
