- Morgan Stanley's Wilson "remains comfortable" with year-end 3900 S&P500 target
- Toyota near solid-state battery breakthrough: 1,200-km range, 10-min charge
- Moody's see weak fundamentals in China's property sector as a weight in next 12-18 months
- Bank of America expect FOMC hold in November & a 'close call' December interest rate hike
- First meeting of China - US economic working group, candid and constructive discussions
- ICYMI - China set to approve 1 trln yuan in additional sovereign debt issuance today
- PBOC sets USD/ CNY central rate at 7.1786 (vs. estimate at 7.2992)
- Bank of Japan announces an unscheduled JGB buying operation
- The economic calendar for Europe, UK & US on Tuesday is a sea of red - plenty of key data
- Japan looks set to extend fuel and utility price subsidies through to end April 2024
- Japan Jibun preliminary manufacturing PMI for October 48.5 (prior 48.5)
- US equites - BlackRock says there is too much optimism about corporate earnings
- Not FX - McDonald’s is giving away free fries every Friday for the rest of the year
- Fake reports incoming of an attack on US Navy ship Carney - no attack happened
- South Korea looking to Africa to secure graphite as China tightens export controls
- The good news / bad news preview of Australia CPI data due Wednesday
- Australian data - ANZ-Roy Morgan consumer confidence index 78.2 (prior 76.4)
- White House national security spokesman Kirby says not the time for Israel-Hamas ceasefire
- Bitcoin higher again, above US$32K
- AUD traders heads up - Reserve Bank of Australia Governor Bullock speaks later on Tuesday
- Australia preliminary PMI: Manufacturing 48.0 (prior 48.7) & Services 47.6 (prior 51.8)
- AUD traders - NAB says CPI data to be higher than RBA expects, forecast November rate hike
- ICYMI - China's sovereign wealth fund bought ETFs to prop up puking stock market
- Reports that attacks continuing on US base in Syria
- China set to approve circa US$137billion in additional sovereign debt issuance on Tuesday
- There is some talk that US bases in Syria and nearby have been hit (update: fake news)
- Media reports that Putin had a heart attack
- S&P closes below 200 day MA for the 2nd day in a row
- Forexlive Americas FX news wrap: US 10-year yields tag 5% then reverse
Bitcoin rocketed higher during the session here, carrying on its gains from Monday. The prospect of Bitcoin ETFs has lit a fire under the price. BTC/USD hit US$35K during the session here, its highest since May of 2022.
More broadly the USD lost ground, also carrying on its Monday move. All major FX, including the hapless yen, rose vs. the big dollar. Lower US yields, after the 10-year tickled 5%, are the weight on the USD.
Otherwise news and data flow was limited here. We had preliminary PMIs from Australia and Japan, none of these were encouraging (see bullets above).
Bitcoin update:
