Invetors’ main focus on RBA’s Cash Rate decision and Japan’s Cope CPI report today!

FXPrimus has summarized the important market indicator of the day.

Today at 03:30 RBA will announce its latest Cash Rate decision and BoJ its Cope CPI at 05:00.

At 07:00 EU will release the Spanish Unemployment Change while German markets will be closed in observance of German Unity Day.

At 08:30, UK will release its Construction PMI, a figure of which is expected to change one point higher.

On other important events, FOMC member Powell will speak about regulatory reform at a financial regulation event at 12:30.

GBPUSD – Sterling falls 1.0% amid a slowdown in Manufacturing activity and the weak currency. The British Pound plummeted to the bottom of the descending channel which started 2-Weeks ago as the UK Manufacturing PMI declined 10 points amid an increase in production costs linked to the weak currency. The figure did not signal a contraction, however, it may be signalling a slowdown for the rest of the PMI reports released today and tomorrow. Next level of support the 50.0% FR at 1.3214

EURUSD – Euro decelerates supported by poor Unemployment data, Catalonia’s independence referendum. Euro extended its losses starting Q4 on the wrong foot as a series of data from the Eurozone came out worse than expected. Catalonia’s desire to split from Spain with a 90% ‘yes’ votes weighed in as investors fear this will have a n impact on other regional referendums expected to eventuate this month. Euro-Dollar declined further on positive US data while market participants wait for today’s Spanish Unemployment figures.
USDJPY – Dollar kicks-off Q4 with a rally as SIM Manufacturing PMI hits a 13-Year high. Dollar gained against Yen on yesterday’s session as the actual figures of September’s ISM report led the US general economy to its 100th consecutive month of growth despite the deadly shooting in Las Vegas. Dollar strength extended amid geopolitical concerns in Europe and also Kaplan’s remarks on a rate hike. The pair settled above the 200DMA while investors push the price above the 112.80 level, currently at 113.15 (06:00 GMT).

USOIL – Oil slumps on fears over oversupply as Libya prepares to ramp up production. Crude Oil depreciated to near $50 yesterday, damaging the recent bullish sentiment, due to disruption in the Sharara field, while Abu Dhabi expanded its investment in solar and Shell restarted Louisiana’s refinery. Oil price moved from a high of 52.94 to a low of 50.18 while market players are waiting from API’s report.
XAUUSD – Dollar’s strength moves Gold price below critical support, losing over $9 per ounce. Spot Gold declined amid Dollar’s strength despite geopolitical concerns as the effect of those did not change bearish sentiment. Gold is currently trading just above $1270, below the $1280 support, while Russia doubled its gold purchases. The Gold price fell over fears of another rate hike, as Fed’s Kaplan signalled.
In US Indexes, S&P 500 closed 0.39% higher while DJ appreciated 0.68%.
In Europe, UK 100 surged 0.90% while DE 30 raised 0.58%.
In Asia, ASX 200 plummeted 0.47%, Nikkei saw an increase of 1.05% and Hang Seng surged 1.91%.
In stocks, Twitter gained 1.30% while BoA followed with a raise of 1.10%.