Sunday, October 30, 2016

Overnight


Apparent spillover from the Hillary email bombshell hit Asian markets overnight but weak economic data and lower oil prices didn't help shares either.

The Nikkei 225 traded off 0.26% as investors await Tuesday Bank of Japan two-day monetary policy meeting to gauge if any sunrises erupt.The Kospi was alos down on the opening, 0.27% while the ASX 200 remained flat. The yen weakened against the dollar, fetching 104.68, down slightly from late U.S. levels and off Friday's three-month high of 105.54.The broader Topix dropped 0.3 percent to 1,388.75 and the JPX-Nikkei Index 400 shed 0.3 percent to 12,446.54. the Shanghai Composite was down -0.45% at 2009.60.

The dollar index, which measures the greenback against a basket of six major currencies, traded at 98.466 around 11:40 a.m. on Monday, after last week moving to levels as high as 98.8. In the oil market, Brent futures continued its declines from Friday's session, trading down 0.52 percent to $49.45 a barrel on Monday. U.S. crude futures was down 0.47 percent at $48.47 after it last settled at $48.70.

Coming up this week Tuesday's Bank of Japan's interest rate decision, the Federal Reserve holds it's meeting on Wednesday and is widely expected to hold rate steady until after the election. That premise no doubt got a further boost by Friday's FBI announcement.Thursday the Bank of England steps into the limelight with its interest rate decision while the Japanese markets will be closed that day for holiday.Friday the October jobs report comes out and two Federal Reserve governors are set to give speeches. Gold on Friday jumped more than one percent on the FBI news and remained steady in early Monday trading on the back of a firm dollar and what the Fed does later in the week. Spot gold was at $1,276.30, unchanged.











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