Some mixed tones as the cash market gets underway The slight hints of optimism earlier are fading as more cautious and tepid tones are prevailing now. Nasdaq futures briefly erased gains in the past hour but are keeping a little higher by ~0.2% currently, so that also points to some indecision in the risk mood.
The aussie has some headwinds to navigate through, says CBA The firm's head of international economics, Joseph Capurso, says that the aussie could fall to 0.6850 against the dollar - weighed down by RBA policy, the US election and a stalling global economy in the near-term.
Via Bloomberg After many months of gaining industrial metals we are starting to see some falls. This is due to the rising COVID-19 cases which is starting to show signs of an increasing momentum in cases. Copper, Zinc, and Aluminium have been some of the worst performing commodities during recent trading and unless demand can come
Slightly more positive tones in early trades - German DAX futures +0.5% - UK FTSE futures +0.5% - Spanish IBEX futures +0.5% This reflects the slight optimism in US futures, though gains are more modest now as we start to move towards the start of European morning trade.
A mixed session for Asian equities US futures are keeping a little higher so that at least feeds into some calmer tones as we look towards European trading, but it is tough to extrapolate much from this for now.
Latest data released by ONS - 25 September 2020 Slight delay in the release by the source.
Daily thread to exchange ideas and to share your thoughts Major currencies aren't doing a whole lot to start the new day but the aussie and kiwi are mildly higher for now, but still trading within narrow ranges.
This just reaffirms the manufacturing PMI data from earlier in the week In case you missed it, the print rose to its highest level in over two years on improved foreign demand i.e. export orders and Ifo's data pretty much confirms that narrative from earlier this week.
The virus resurgence continues to gather pace in Europe The number here isn't too comforting, especially after France also posted a record daily number of coronavirus cases yesterday . This will only help to intensify calls for tighter restrictions and that doesn't bode well for the economic recovery in the region.
Japan to allow long-term residents entry more freely starting from 1 October The above is being confirmed by Japanese economy minister, Yasutoshi Nishimura. Adding that Japan is also to expand immigration entry worldwide starting from 1 October.