On Monday mornings, market activity is typically low until more Asian markets open. Prices can fluctuate, so be cautious.
Highlights from the weekend in China:
- China reveals limited information on stimulus at Saturday’s conference.
- Major state-owned banks in China announce mortgage rate cuts effective October 25.
- China’s CPI for September drops below August levels and expectations; PPI declines further.
Currency rates showed little change since Friday, but AUD and NZD softened slightly after the weekend news from China:
- EUR/USD: 1.0938
- USD/JPY: 149.05
- GBP/USD: 1.3073
- USD/CHF: 0.8572
- USD/CAD: 1.3758
- AUD/USD: 0.6745
- NZD/USD: 0.6102