Headlines:
Heads up: It is a partial market holiday in the USWeekly update on interest rate expectationsChinese equities look to hold on to hope for now at leastSwitzerland September producer and import prices -0.1% vs +0.2% m/m priorSNB total sight deposits w.e. 11 October CHF 467.1 bn vs CHF 471.4 bn priorChina records ¥582.62 billion trade surplus in SeptemberChina September M2 money supply +6.8% vs +6.4% y/y expectedOPEC slashes global oil demand growth forecast for third month in a row
USD leads, CHF lags on the dayEuropean equities higher; S&P 500 futures up 0.1%Gold down 0.1% to $2,654.73WTI crude down 2.4% to $73.74Bitcoin up 3.2% to $64,867
It was a quiet session as markets are marred by holidays in major markets. In Asia, Japan was out and looking to the session ahead, the US – partially – and Canada will be too.
That kept trading sentiment in a bit of a bind but in the last hour or so, we are seeing the dollar catch a light bid.
EUR/USD is down 0.2% to 1.0915 with USD/JPY up 0.4% to 149.70 on the day. The latter is trading to its highest levels since the start of August, as the dollar continues to keep on steadier footing since the start of the month.
The Swiss franc is the laggard on the day, with USD/CHF up 0.6% to 0.8625 and EUR/CHF up 0.4% to 0.9415. Is the SNB at work amid quiet markets?
Meanwhile, the antipodeans are also lagging slightly as the Chinese yuan is punished after a lack of stimulus details from a much anticipated press conference in China. AUD/USD is down 0.5% to 0.6715, keeping near the lows for the day currently.
In the equities space, European indices are a little higher with US futures also up slightly ahead of holiday thin trading in Wall Street later.
This article was written by Justin Low at www.forexlive.com.
