Global Markets Daily

27 Oct 2015, Tuesday

GBL: Global Markets Daily		Saktiandi Supaat (65) 6320 1379 saktiandi@maybank.com.sg
FX Research: G7 Forex | AxJ Forex | Malaysia Rates | Singapore Rates | Indonesia Rates
Dollar softened against most of the majors on Mon, weighed by lower new home sales for Sep at 468K vs. previous 529K. NZD and AUD gained around 0.5% each against the greenback. EUR also gained +0.4%. Only the CHF traded on the back foot.  Equity players chose to remain on the sidelines overnight, ahead of Sep durable goods order release tonight along with consumer confidence index for Oct. US benchmark indices ended Mon, hardly changed. Risk sentiment was cautious as we write. Early starters Nikkei and Kospi spent initial trading hours in modest red. Oil prices were on the slide with WTI last seen at $43.81/bbl. Brent was also lower at $47.42/bbl, down 0.9% for Mon. That inspired mild MYR downside this morning, last seen at 4.2440. In the FX space, KRW was on the rise, up +0.3% against the greenback, lifted by higher consumer confidence for Oct. New Zealand saw a wider trade deficit in Sep of NZ$1.22bn vs consensus at NZ$825mn. NZD edged -0.1% lower, last seen at 0.6780. Looking ahead, we have Philippines’ imports and trade balance due soon, followed by China’s industrial profits. China also moves into the second day of its fifth plenum, the policy setting meeting that sets the tone for the 13th five year plan. Late into Asia, UK releases 3Q GDP. The Fed begins the two-day FOMC meeting tonight. We do not expect any action from them but focus will be on the statement release on Wed night. §