Macro Dragon: RBA Mins, Asia Risk-on Tues, Snowflake

Macro 2 minutes to read
Kay Van-Petersen

Global Macro Strategist

Summary:  Macro Dragon = Cross-Asset Daily Views that could cover anything from tactical positioning, to long-term thematic investments, key events & inflection points in the markets, all with the objective of consistent wealth creation overtime.


(These are solely the views & opinions of KVP, & do not constitute any trade or investment recommendations. By the time you synthesize this, things may have changed.)

Macro Dragon: RBA Mins, China Monthly Growth Data, Asia Risk-on Tues, Snowflake

 

Top of Mind…

  • As we touched on the Dragon’s wk ahead piece yest, whilst econ data is light it is central banks galore with rate decisions out of Fed, BoJ, BoE, ECB, SARB, RNB, BCB, BKID to name a few (the last four respectively represent South Africa, Russian, Brazil & Indonesia).
  • Shortly we will be getting RBA minutes from their Sep meeting – if memory serves correctly, the minutes have not really been a big mover of aussie lately.
  • Perhaps more importantly this Asia Tuesday morning will be the monthly growth figures out of China. Later on in the day as Europe comes in we will get Avg. Earnings & jobs data out of the UK, and more importantly ZEW readings out of the bloc & in particular, Germany.
  • North America will see manufacturing Sales out of Canada, with the US seeing a range of things: Empire State Manufacturing, Import Prices, Capacity Utilization & Industrial Production.
  • Overnight session saw decent risk-on with SPX 3384 & Nas-100 11278 up +1.3% & +1.7% respectively.
  • The likes of copper 306.65, silver 27.25 & gold 1958 also traded higher at +1.1%, +1.5% & 0.8% respectively.
  • Brent pulled back by c. 20bp to 37.26, whilst the USD dropped by 30bp as the DXY closed down at 93.0460
  • G10 FX wise looks likes biggest beneficiaries of the USD weakness were the kiwi, yen & euro.
  • Would expect the o/n risk-on to flavor the price action in today's Asia Pacific session. 

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Worth Making Some Time For…

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Start-to-End = Gratitude + Integrity + Vision + Tenacity. Process > Outcome. Sizing > Idea.

This is the way 

KVP

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