Australia Business Confidence Unchanged in September

News Event

From Trading Economics: Business Confidence in Australia remained unchanged at 6 in September from 6 in August of 2016. Business Confidence in Australia averaged 5.73 from 1997 until 2016, reaching an all-time high of 20 in April of 2002 and a record low of -30 in October of 2008. Business Confidence in Australia is reported by the National Australia Bank.

Market Snap

Market Closing Wrap

In European Equity Markets stocks rose on Monday, reversing earlier weakness as oil stocks rallied on the back of stronger crude prices. The pan-European STOXX 600 index rose 0.7 percent, rising for the first time in four sessions days. The STOXX Oil index rose 1.9 percent, making it the biggest gainer.  Shares in oil majors Royal Dutch Shell, Total and Eni all rose by more than 2 percent. Deutsche Bank rose 3.4 percent, reversing earlier losses after Austria's finance minister Hans Schelling said he believed the German lender's problems could be resolved without collateral damage. EasyJet, which issued a profit warning last week, fell 2.3 percent after SocGen cut its rating on the stock to "sell" from "hold".

In Currency Markets the British pound steadied on Monday as the dollar took back some of Friday's losses against a range of currencies, while the Mexican peso rose after the damaging publication of a video of Donald Trump making vulgar comments about women. The pound was trading only 0.1 percent lower than Friday's U.S. close at $1.2418 and gained a quarter of a percent to 89.87 pence against the euro. The Mexican currency last stood at 19.018, still up about 1.5 percent. The Canadian dollar rose by about 0.2 percent to C$1.3268 to the U.S. dollar, edging away from Friday's low of C$1.3315, its lowest since mid-March. The dollar index was up 0.24 percent at 96.75.

In Commodities Markets  oil prices jumped about 3 percent on Monday, with Brent hitting one-year highs, after Russia said it was ready to join OPEC in curbing crude output and Algeria's oil minister said he expected similar commitments from other non-OPEC producers.  Brent crude hit its highest level since Oct. 12, 2015, reaching $53.73 a barrel, before paring gains to trade up 2.8 percent, at $53.37. U.S. West Texas Intermediate crude rose to $51.60, its highest since June 10, before trading at $51.38, up 3.2 percent. Spot gold was up 0.3 percent at $1,259.76 an ounce. Among other precious metals, silver was up 1 percent at $17.68 an ounce. Platinum was 0.1 percent higher at $965.20 an ounce and palladium was 0.3 percent lower at $663.30 an ounce.

In U.S., Equity Markets were closed for the Columbus Day holiday.

In Bond Markets Portugal's bonds climbed the most since June after the country's finance chief said that rating company DBRS Ltd. has a positive assessment of the nation's fiscal efforts, strengthening the government's conviction that it will keep its investment-grade rating. Portugal's 10-year bond yield fell 14 basis points to 3.44 percent, the biggest decline since June 28.

Source: Institute of Trading and Portfolio Management