AUD Pokes Head After US Bank Holiday

AUD

The Aussie dollar opens up against most majors this morning while the ASX finished yesterday's session +0.2% higher with energy and gold stocks being stand out performers. Asian equities were mixed to open the week with the Nikkei -0.3% and the Hang Seng +0.6%. This morning, we'll see NAB Business Confidence data as well as New Loans from China (tentative release). China's banks are expected to have extended 2.5 trillion yuan in net new yuan loans last month (up 84% from August) as the central bank strives to boost the economy's recovery amid reduced demand both domestically and abroad. 

USD

AUDUSD rallied in the early hours, breaking through the 0.64 handle to open at 0.6410. Wall St. started the week in the green while the U.S Treasury market was closed for Columbus Day. The NASDAQ closed +0.4% with the S&P 500 and Dow Jones +0.6% respectively. A quiet 24h ahead in terms of US data with FOMC Member Waller speaking on 'The Evolution of Monetary Policy' in Washington. Tomorrow night we have the Core PPI m/m which is expected to remain unchanged at 0.2% and PPI m/m expected to drop from 0.7% to 0.3%.

EUR

AUDEUR spiked overnight to open at 0.6068. European equities ended the session down with the DAX -0.7% and the CAC -0.5%. Yesterday evening, we had mid-tier data out of the Eurozone with German Industrial Production m/m down printed at -0.2% from -0.1% and the Sentix Investor Confidence printing better than expected up at -24.9. Tonight, we'll see ECB President Lagarde speak at the World Bank and International Monetary Fund Annual Meeting, in Morocco.

GBP

AUDGBP opens higher this morning, peaking at 0.5241 before settling at 0.5237. Equities were quiet during the U.S Bank holiday with the FTSE closing flat. A quiet first half of the week for the GBP with no major data out until Thursday, where we have the GDP m/m expecting +0.2% growth following a -0.5% decline printed in September.

NZD

AUDNZD being the only major to open slightly lower at 1.0642. A very quiet week for the NZD with a handful of mid-tier data beginning tomorrow with Visitor Arrivals m/m. No major data out of the NZD until next Tuesday where we have the CPI q/q which previously printed at 1.1%.