Global Markets Daily

22 Oct 2015, Thursday GBL: Global Markets Daily Saktiandi Supaat (65) 6320 1379 saktiandi@maybank.com.sg FX Research: Wall Street ended another session in mild red, weighed by mixed corporate earnings in the absence of data cues. Elsewhere, Bank of Canada left key rate at 0.5% but lowered its 2016 GDP forecast from 2.3% to 2.0%. That sent USDCAD on a rally to a high of 1.3142 and the pair is still hovering thereabouts in early Asia. Also underpinning the pair was the slide in oil prices.   Overnight session was slightly favourable to the USD with cautious risk sentiments weighing on commodity linked currencies. EUR hardly moved ahead of ECB meeting tonight. Markets do not expect further stimulus from the central bank though some jawboning may be expected to curb the EUR strength. Data is light in the region. Onshore markets in India are closed for Dussehra. There is an air of caution in early Asian hours with Nikkei down -0.2% and Kospi also -0.3% lower. KRW was weighed by equity-related outflows, down -0.7% as we write, against the USD. Sentiments soured after Samsung Engineering announced plans to sell new shares in a rights offering, triggering a 24% plunge in its share, the most since 1997.  On the other end of the spectrum, THB gained 0.2%. Beyond Asia, ECB meeting will be watched. Thereafter, US existing home sales and weekly jobless claims are due. §    Disclaimer This email and its attachment(s) are confidential and are intended solely for the use of the individual to whom it is addressed. Any views or opinions expressed are solely those of the author and do not necessarily represent those of Maybank Kim Eng or any of its affiliates. Intended recipients of this email are prohibited from disseminating, forwarding, printing and/or copying its contents. If you are not the intended recipient of this email, you are strictly prohibited to take any action based upon them, which also includes dissemination, forwarding, printing and copying of its contents. Maybank Kim Eng Research sent this e-mail to you because your Notification Preferences indicate that you want to receive information about our daily research reports. If you wish to read Disclaimer in details, please click HERE. To unsubscribe or change preference settings, please click here to contact your representative.