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asia morning nov 3

The U.S. dollar remains firm against other major currencies...

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Asia Morning: U.S. Stocks Rebound on Election Eve
On Monday, on the eve of the November 3 presidential election, U.S. stocks closed in positive territory. The Dow Jones Industrial Average jumped 423 points (+1.60%) to 26925, the S&P 500 gained 40 points (+1.23%) to 3310, and the Nasdaq 100 was up 31 points (+0.29%) to 11084.


Nasdaq 100 Index (Daily Chart) : Downside Prevails

Sources: GAIN Capital, TradingView


Energy (+3.67%), Materials (+3.39%) and Capital Goods (+3.23%) sectors performed the best. Mohawk Industries (MHK +11.14%), National Oilwell Varco (NOV +8.45%) and United Rentals (URI +8.07%) were top gainers.

Twitter (TWTR -4.57%) slid further following a 21% slump last Friday.

Approximately 60% (the same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 15% (16% in the prior session) were trading above their 20-day moving average.

U.S. official data showed that construction spending increased 0.3% on month in September (+1.0% expected). The Markit U.S. Manufacturing Purchasing Managers' Index (final reading) posted at 53.4 for October (53.3 expected).

European stocks rebounded. The Stoxx Europe 600 rose 1.61%, Germany's DAX jumped 2.01%, France's CAC 40 rose 2.11% and the U.K.'s FTSE 100 was up 1.39%.

U.S. Treasury prices posted modest gains, as the benchmark 10-year Treasury yield eased to 0.845% from 0.855% Friday.

Spot gold advanced $16 (+0.89%) to $1,895 an ounce.

U.S. WTI crude futures (December) rebounded $1.16 (+3.24%) to $36.95 a barrel.

On the forex front, the U.S. dollar remained firm against other major currencies. The ICE Dollar Index edged up to 94.04, the highest level since September 28. 

EUR/USD eased further to 1.1642. On a daily chart, the pair keeps lingering around the lower Bollinger band.

GBP/USD ran down to 1.2855 before closing at 1.2916, down 0.26% on day.

Research firm Markit reported final readings of October Manufacturing PMI for the eurozone at 54.8 (54.4 expected), Germany at 58.2 (58.0 expected), France at 51.3 (51.0 expected), and the U.K. at 53.7 (53.3 expected).

USD/JPY rebounded for a third session climbing to 104.71 from 104.66 in the prior session.

Commodity-related currencies strengthened along with rebounding oil prices. AUD/USD gained 0.38% to 0.7055, while USD/CAD dropped 0.78% to 1.3217.

On Monday, on the eve of the November 3 presidential election, U.S. stocks closed in positive territory. The Dow Jones Industrial Average jumped 423 points (+1.60%) to 26925, the S&P 500 gained 40 points (+1.23%) to 3310, and the Nasdaq 100 was up 31 points (+0.29%) to 11084.


Nasdaq 100 Index (Daily Chart) : Downside Prevails

Sources: GAIN Capital, TradingView


Energy (+3.67%), Materials (+3.39%) and Capital Goods (+3.23%) sectors performed the best. Mohawk Industries (MHK +11.14%), National Oilwell Varco (NOV +8.45%) and United Rentals (URI +8.07%) were top gainers.

Twitter (TWTR -4.57%) slid further following a 21% slump last Friday.

Approximately 60% (the same as in the prior session) of stocks in the S&P 500 Index were trading above their 200-day moving average and 15% (16% in the prior session) were trading above their 20-day moving average.

U.S. official data showed that construction spending increased 0.3% on month in September (+1.0% expected). The Markit U.S. Manufacturing Purchasing Managers' Index (final reading) posted at 53.4 for October (53.3 expected).

European stocks rebounded. The Stoxx Europe 600 rose 1.61%, Germany's DAX jumped 2.01%, France's CAC 40 rose 2.11% and the U.K.'s FTSE 100 was up 1.39%.

U.S. Treasury prices posted modest gains, as the benchmark 10-year Treasury yield eased to 0.845% from 0.855% Friday.

Spot gold advanced $16 (+0.89%) to $1,895 an ounce.

U.S. WTI crude futures (December) rebounded $1.16 (+3.24%) to $36.95 a barrel.

On the forex front, the U.S. dollar remained firm against other major currencies. The ICE Dollar Index edged up to 94.04, the highest level since September 28. 

EUR/USD eased further to 1.1642. On a daily chart, the pair keeps lingering around the lower Bollinger band.

GBP/USD ran down to 1.2855 before closing at 1.2916, down 0.26% on day.

Research firm Markit reported final readings of October Manufacturing PMI for the eurozone at 54.8 (54.4 expected), Germany at 58.2 (58.0 expected), France at 51.3 (51.0 expected), and the U.K. at 53.7 (53.3 expected).

USD/JPY rebounded for a third session climbing to 104.71 from 104.66 in the prior session.

Commodity-related currencies strengthened along with rebounding oil prices. AUD/USD gained 0.38% to 0.7055, while USD/CAD dropped 0.78% to 1.3217.

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US and global equity markets have extended Wednesday’s sell-off, with Wall Street opening lower after a weak handover from Asia and Europe. The deterioration in risk appetite has been spreading across global markets. The dollar was firmer, Treasury yields were holding onto yesterday’s gains, while gold, silver and bitcoin were all under pressure alongside equities and major currencies.

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