Open/Wrap

Asian market overview (quick)

  • Nothing surprising in RBA minutes but some doubt now surfacing whether they cut in November or December:
  • Nikkei gains nearly 1%:
  • JPY crosses rally with continued M&A related buying keeping USD/JPY buoyant:
  • FT headline that Spain is now ready to ask for bailout has also encouraged risk sentiment:
  • Rio Tinto production numbers were reasonably decent, encouraging some positive AUD sentiment:
  • AUD/NZD breaks above technical resistance at 1.2575 after latest NZ CPI data increased expectations of an RBNZ rate cut:

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