Market Brief: Contrasting Headlines Whip Prices

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FX Brief:



Equity Brief:

  • Mix performances seen in key Asian stock markets ahead of the high-level U.S-China trade talk that is set to kick-start today in Washington. Also, contrasting trade related headlines out in Asian session today do not offer any clear direction on how the talks will progress. On the positive side, it has been reported that U.S. administration is considering a currency pact with China that could lead to a partial deal. On the negative flipside, deputy-level talks among junior trade officials have shown no progress ahead of today’s key negotiation talk and the Chinese trade delegation may leave earlier today rather than stay for the scheduled two days of talks till Fri, 11 Oct. 
  • South Korea’s Kospi 200 is the worst performer today which has recorded a loss of -0.30% to hit a month low of 266 as it resumed trading from yesterday’s holiday break
  • Cautious trading has continued to be seen in Hong Kong stock market as anti-government protestors have indicated to plan more protests today and over the weekend. Property related stocks have underperformed where Henderson Land, Hang Lung Properties and Sun Hung Kai Properties have dropped by -0.90% to -0.80%.

Up Next

  • A slew of data from UK includes monthly GDP, manufacturing, industrial and construction output. Mark Carney is also speaking, although it’s about the new £20 note so we doubt it will be riveting. Unless we see surprisingly strong rebounds on the data front, Brexit headlines remain the dominant driver behind GBP moves.
  • US inflation data is expected to remain at 2.4%, well above the Fed’s 2% target. A slight miss below this figure increase the already high odds that they’ll cut next week (which is around 85% according to the CME FedWatch tool).  




Matt Simpson and Kelvin Wong contributed to this article

Data from Refinitiv. Index names may not reflect tradable instruments and not all markets are available in all regions.


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