Global Themes

Rebound

The USD rebounded from last week’s lows after US sharemarkets saw a strong rally to close the week.

The US dollar saw the majority of the selling last week as traders fretted about the impact of weaker markets on the US Federal Reserve’s resolve to raise interest rates further.

Lows

The USDCNY bounced from 10-day lows as US sharemarkets rallied with the pair up 0.6% at the end of Friday’s session.

The USD continued to climb this morning.

With global markets tense last week, the Japanese yen - widely seen as a safe haven currency - was well supported.

The GBP was weaker early trade this morning.

The GBP will be in focus after the UK and EU suspended Brexit talks ahead of this week’s EU summit.

US retail sales

This week sees a rush of economic data with US retail sales, due at 8:30pm tonight, the first of the week’s releases.

Tomorrow, NZ and China both have inflation readings, while UK unemployment is out tomorrow night.

In Australia, the September employment report is due on Thursday looking for 15k new jobs after last moths very strong result of 44k.

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