- EU summit begins with little expectations of breakthroughs.
- Greece set to go on another general strike.
- Australia 3rd qtr. NAB business confidence at -2 from a revised -3.
- PBOC sets Yuan rate at 6.3021, six days of stronger fixings.
- China September house price index fell 1.3%.
- China 3rd qtr. GDP rises 7.4% in line with expectations but 0.2% lower than previous number.
- China September industrial production rises 9.2%, slightly better than expected.
- China September retail sales rose 14.2%, better than the forecast of 13.2%.
- China September fixed assets investment rose 20.5% slightly above the forecast of 20.2%.
- China 3rd qtr. business climate index fell 4.1 to 122.8.
- NBS’s Sheng says China employment stable, achieving growth stabilization not an easy task, will continue prudent monetary policy, still needs to be cautious on inflation.
Well worse case scenario occurred as China numbers were more or less in line with expectations and a fat fingered trade in the AUD/USD up at 1.0395 was the highlight of the move. The EUR/USD rally also stalled at the highs of 1.3123 breaking back below 1.3100 ahead of the upcoming EU summit. USD/JPY traded as high as 79.20 with sellers lined up above at 79.30. Consolidation seems to be the call for now unless we get some divine intervention at the EU summit later.
Have a good day.
