Sentiment moved in a positive direction heading into the US long weekend with Trump’s support for a large scale Covid support package. The S&P500 closed up 0.9% to a one-month high, the US dollar fell, and bond yields rose slightly. Commodities, Brent crude oil futures fell 1.1% to $42.85, copper rose 1.3%, and gold rose 1.9%.
AUD/USD: 0.7173 – 0.7243
EUR/USD: 1.1767 – 1.1831
GBP/USD: 1.2922 – 1.3050
USD/JPY: 105.59 – 105.98
USD/CAD: 1.3110 – 1.3187
NZD/USD: 0.6599 – 0.6672
AUD/JPY: 75.95 – 76.52
AUD/NZD: 1.0850 – 1.0876
AUD/USD reached a high of 0.7243 at the close of last week as demand now likely to have been raised to the 0.7180/.7200 region while offering interest should gather momentum with a push toward 0.7300 region
Event Risk Data Today
Eurozone: EU/UK post-Brexit trade talks will continue.
Japan: Capital investment remains challenged by uncertainty, with PPI (prior: 6.3%, market f/c: -0.4%).
New Zealand: Net migration in August will remain depressed by border restrictions (prior: -26).
UK: BOE commentary from Haskel and Bailey
US: partially closed for Columbus Day.