October’s survey headlines the data docket in European trading hours. Economic news-flow has softened relative to consensus forecasts over the past month, opening the door for the possibility of a downside surprise. Such an outcome may feed fears that cooling in wake of the Brexit referendum is beginning to emerge, weighing on the .
Later in the day, the analogous report will enter the spotlight. The outcome may boost the if the past two weeks’ cautious improvement in US data outcomes continues. Follow-through may prove limited for Sterling and the greenback however, with investors probably unwilling to commit to a strong directional bias as and BOE rate decisions loom ahead.
The underperformed sentiment brightened in Asian trade, sapping demand for the anti-risk unit. Commodity-bloc FX followed regional shares upward, with the leading the way after a somewhat upbeat dented rate cut chances further. Indeed, the currency surged alongside front-end bond yields after Governor Philip Lowe’s statement crossed the wires.
|22:30||AiG Perf of Mfg Index (OCT)||50.9||–||49.8|
|22:30||AUD||ANZ Roy Morgan Weekly Consumer Conf||114.1||–||113.6|
|23:00||AUD||CoreLogic House Px (MoM) (OCT)||0.5%||–||1.0%|
|23:00||QV House Prices (YoY) (OCT)||12.7%||–||14.3%|
|0:30||Japan PMI Mfg (OCT F)||51.4||–||51.7|
|1:00||CNY||Manufacturing PMI (OCT)||51.2||50.3||50.4|
|1:00||CNY||Non-manufacturing PMI (OCT)||54.0||–||53.7|
|1:45||CNY||Caixin China PMI Mfg (OCT)||51.2||50.1||50.1|
|2:55||JPY||BOJ Policy Rate||-0.10%||-0.10%||-0.10%|
|3:30||AUD||RBA Cash Rate Target||1.50%||1.50%||1.50%|
|5:00||JPY||Vehicle Sales (YoY) (OCT)||0.8%||–||3.7%|
|5:30||AUD||Commodity Index AUD (OCT)||100.2||–||92.9|
|5:30||AUD||Commodity Index SDR (YoY) (OCT)||16.0%||–||3.9%|
|6:30||JPY||BOJ’s Kuroda Holds Press Conference||–||–||–|
|8:15||Retail Sales Real (YoY) (SEP)||-2.2% (A)||-3.0%||Low|
|8:30||CHF||PMI Manufacturing (OCT)||54.7 (A)||53.2||Medium|
|9:30||Markit UK PMI Manufacturing SA (OCT)||54.5||55.4||Medium|