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The US$ is a bit softer again today with the EU currencies gaining some ground in Asia and then building on those after the Catalan decision to suspend any move to independence. The metals have headed higher on the back of the weaker dollar, as has WTI which rallied sharply, by 3%, after Saudi Arabia vowed to reduce monthly crude exports amid expectations that market re-balancing is underway. Stocks are once again at all time highs as investors wait on the start of the corporate reporting season, Thursday.
It should all be fairly steady today, with little data on the cards until the FOMC minutes later today, which should be fairly upbeat given that the Fed left the dot points unchanged in September, with a December rate hike now about 80% priced in. Any real volatility though looks likely to be deferred until the US CPI/Retail Sales figures, to be released on Friday. Ahead of that, today, the Australian WBC Consumer Confidence and the China New Loans data will be the Asian focus, while Europe will disseminate the Catalan decision to suspend the move to independence.
|INDICES / COMMODITIES|
|ASX SPI: 5748|