- HSBC flash China PMI 49.1 vs 47.9 in Sept
- Australian Q3 CPI 2.0% y/y vs 1.6% exp
- Swan: inflation remains contained
- Australian DEWR skilled vacancies -3.7% vs -3.4% prior
- OIS prob of RBA cut to 60% from 80%
- US FHFA home prices +4.7% y/y
- China and Japan met last week on disputed islands
- Nikkei -0.3%
- Shanghai comp +0.35%
- AUD leading, GBP lagging
The Australian dollar stole the show, jumping above 1.03 on the high CPI reading and extending the gains on better Chinese manufacturing data. There are caveats to both data points but nothing to reverse the momentum. Resistance at Monday’s 1.0338 high.
EUR/USD crept 10 pips higher after the China PMI but has come back down to unchanged at 1.2986.
Kiwi and CAD piggybacked on the Chinese data as well but overall moves have been miniscule.
Cable is the laggard, down 12 pips from the US close.