Australia Consumer Confidence Declined in November

News Event

From Trading Economics: The Westpac-Melbourne Institute Consumer Sentiment Index for Australia dropped 1.1 percent to 101.3 in November of 2016, compared to a 1.1 percent increase in the previous month. Consumer Confidence in Australia averaged 101.69 from 1974 until 2016, reaching an all time high of 127.67 in January of 2005 and a record low of 64.61 in November of 1990. Consumer Confidence in Australia is reported by the Westpac Banking Corporation, Melbourne Institute.

Market Snap

Market Closing Wrap

In European Equity Markets stocks edged higher in cautious trading on Tuesday, with encouraging updates from some companies underpinning the broader market on a day when investors stayed focused on the election battle in the United States. The pan-European STOXX 600 index rose 0.3 percent. Credit Agricole advanced 5.6 percent after the French lender said it had completed a simplification of its structure in the third quarter that puts more capital into the listed arm of the business, allowing it to set a minimum dividend level for next year. ArcelorMittal fell 4.3 percent after the world's largest producer of steel reported third-quarter core profit below expectations and said its final quarter would be weaker than the third

In Currency Markets the dollar rose against the safe-haven Japanese yen and Swiss franc on Tuesday, but was overall little moved as investors bet on victory for Hillary Clinton in the U.S. presidential election that had already been largely priced into the market. A Trump victory would be expected to drive capital into the perceived security of the Japanese yen and Swiss franc. Both fell against the dollar in morning trading. The dollar rose 0.35 percent against the yen to 104.81 yen and about 0.15 percent against the Swiss franc to 0.9755 franc. The euro edged up 0.11 percent to $1.1051, while sterling held steady at $1.2390.  The dollar index was flat on Tuesday at 97.775.

In Commodities Markets oil prices were little changed on Tuesday, paring earlier gains in line with U.S. stock markets as voters head to the polls to elect the next president of the United States. Brent futures edged up 0.2 percent, to $46.07 a barrel. U.S. crude rose a penny to $44.90 per barrel.  Gold inched higher on Tuesday as the dollar fell and investors remained cautious ahead of the outcome of the U.S. presidential election. Spot gold was up just 0.1 percent at $1,282.93 an ounce. Silver rose 0.8 percent to $18.37 an ounce. Platinum  was up 0.5 percent at $1,008.60 an ounce, after hitting $1,009.40, its highest since Oct. 3, earlier in the session. Palladium rose 0.8 percent to $658.25 an ounce.

In US Equity Markets stocks were little changed in light trading on Tuesday morning as investors treaded cautiously while awaiting the outcome of the U.S. presidential election, with the odds tilting towards Democrat nominee Hillary Clinton. The Dow Jones Industrial Average rose 0.14 percent, at 18,285.76. The S&P 500 was up 0.06 percent, at 2,132.73 and the Nasdaq Composite rose 0.02 percent, at 5,167.19. All the 11 major S&P 500 sectors were higher, led by a 0.7 percent gain in the defensive utilities and telecom services sectors.  CVS fell 13.6 percent after the drugstore operator cut its full-year profit forecast. Hertz's more than 50 percent fall was set to be the stock's biggest ever after the car rental company slashed its full-year profit forecast.

In Bond Markets  U.S. long-dated Treasury yields were slightly lower on Tuesday in quiet trading as investors awaited the results of the U.S. presidential election.  In mid-morning trading, benchmark 10-year note yields were flat in price to yield 1.827 percent, little changed from Monday's 1.828 percent. U.S. 30-year bond prices rose 8/32, yielding 2.588 percent, down from 2.602 percent late on Monday. Two-year note yields were at 0.833 percent, up from Monday's 0.822 percent.

Source: Institute of Trading and Portfolio Management