OctaFX | OctaFX Forex Broker
Open trading account
Back

Market wrap: Risk appetite was more positive - Westpac

Analysts at Westpac offered a market wrap.

Key Quotes:

"Global market sentiment: Risk appetite was more positive overnight (S&P500 +0.9%), amid solid company earnings plus optimism tax reforms would pass through the house today. US interest rates and the US dollar are slightly firmer.

Interest rates: US 10yr treasury yields rose from 2.32% to 2.36%, 2yr yields from 1.69% to 1.71% - a fresh nine-year high. Fed fund futures yields continued to price the chance of a December rate hike at almost 100%.

Currencies: The US dollar index is up 0.1% on the day. EUR eked a sideways range of 1.1760-1.1800. USD/JPY made a round-trip from 112.80 to 113.33 and back. AUD ranged sideways between 0.7580 and 0.7602. NZD initially slipped further to 0.6836 but recovered to 0.6866. AUD/NZD ranged sideways between 1.1060 and 1.1100.

Economic Wrap

US industrial production rose 0.9% in Oct (vs 0.5% expected). Capacity utilisationincreased from 76.0% to 77.0% ()76.3% expected). NAHB homebuilder sentiment rose from 68 to 70 (67 expected).

FOMC member Mester advocated a gradual tightening path, expecting inflation to rise to 2%. Kaplan.also expected progress on inflation but was open-minded on the need to hike at upcoming meetings.

Just announced: the US House voted 227-205 to overhaul the tax code. 13 Republicans voted no."

Gold steadier on Thursday, making a small gain into the US close

Spot gold has been trading in a more stable fashion on Thursday, closing slightly higher moving between $1,274.97 and $1,281.75 while the US dollar ha
Read more Previous

British Brexit minister Davis: We can go further than Canada-EU free trade agreement

British Brexit minister David Davis crossed the wires in the last hour, saying that they could go further than Canada-EU free trade agreement. Key qu
Read more Next
Start livechat