• US indices finished yesterday’s session slightly lower. The S & P 500 and Nasdaq extended losing streak to 6 days yesterday, dropping 0.33% and 0.09%, respectively. Dow Jones and Russell 2000  closed lower, posting losses of 0.10% and 0.30%, respectively.
  • Indices from Asia-Pacific traded mixed today.  Nikkei  fell 0.48% and Kospi ticked 1.20% lower while S&P/ASX 200 rose 0.10%. Indices from China struggled to find common direction.
  • DAX futures point to a more or less flat opening of the European cash session today
  • Fed’s Bowman believes inflation expectations appear to be well anchored. Sizable rate hikes should remain on table if inflation not seen moving down
  • US consumer spending is up 10% in October, according to Bank of America
  • Japan finance minister Suzuki says excess FX volatility can hurt economy and excess moves by speculators cannot be tolerated
  • US chip manufacturer Applied Materials lowered financial outlook due to export restrictions to China. Meanwhile Taiwan Semiconductor Manufacturing Co. has secured a one-year license to continue ordering American chip making equipment for its expansion in China
  • China Securities Times report local governments to buy houses in order to support developers nad economy
  • Hong Kong’s central bank intervenes in FX in order to support HKD
  • Yellen Worries Over Loss of ‘Adequate Liquidity’ in Treasuries, according to Bloomberg. She also believes that Russia could profitably sell oil at prices circa $60 / barrel
  • ECB policymakers are close to a deal to change terms of the TLTRO, decision could occur on October 27, according to Reuters
  • Australia October inflation expectations survey: 5.4% (previous 5.4%)
  • Japan September PPI +0.7% m/m (expected +0.3%)
  • API report showed larger than expected inventory build of 7.05 million barrels
  • Cryptocurrencies are trading lower today. Bitcoin fell 0.9% and approaches $19,000 mark while Ethereum adds 1.2% and approaches $1,280 area
  • Energy commodities fell slightly with Brent  trading 0.2% lower
  • Precious metals are trading little changed with gold and silver trading 0.2% lower.
  • JPY and NZD are the best performing major currencies while GBP and CAD lag the most

USDCAD once again approaches major resistance at 1.3850.

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