Australia New Motor Vehicles Sales Rose in September

News Event

From Trading Economics: Total vehicle sales in Australia rose 2.5 percent month-on-month in September of 2016, following a downwardly revised flat growth in August and reaching an all time high of 100,640 units. Sales increased for all categories: sport utility vehicles (+3.5 percent), passenger vehicles (+2.1 percent) and other vehicles (+1.5 percent). Year-on-year, total vehicle sales grew by 0.8 percent. Total Vehicle Sales in Australia averaged 76508.08 from 1994 until 2016, reaching an all time high of 100640 in September of 2016 and a record low of 48099 in January of 1994. Total Vehicle Sales in Australia is reported by the Australian Bureau of Statistics.

Market Snap

Market Closing Wrap

In European Equity Markets, stocks fell on Monday as weak-looking business updates from firms such as media group Pearson and Norwegian seafood company Marine Harvest weighed on the market. The pan-European STOXX 600 index fell 0.7 percent. Pearson fell 8.4 percent after the company warned of tough trading conditions, even though cost cuts enabled it to maintain its full-year outlook. Marine Harvest shares also fell 4.1 percent after the company cut its 2016 output guidance. The Italian banking sector was buoyed by merger activity, with UniCredit confirming it was in talks to sell its stake in Bank Pekao, while shareholders approved plans for a merger between Banco Popolare and Banca Popolare di Milano.

In Currency Markets the U.S. dollar retreated from seven-month highs on Monday as investors evaluated whether the Federal Reserve will let inflation run above target before raising interest rates, and as some investors took profits from the recent dollar rally. The euro, which fell below $1.10 for the first time in almost three months last week, gained 0.26 percent to $1.1099. The dollar eased 0.09 percent against the yen to 104.07 yen, close to last week's more than two-month peak of 104.63. The pound fell 0.22 percent to $1.2160. The Australian dollar was steady, with Aussie at $0.7618, while Kiwi climbed 0.59 percent to $0.7129. The dollar index was last down 0.10 percent at 97.914, after rising to 98.169 in overnight trading, the highest since March 10.

In Commodities Markets  oil prices fell on Monday, weighed by oversupply concerns, while expectations of an OPEC intervention next month to curb production limited losses. International benchmark Brent crude oil futures fell 57 cents to $51.38 per barrel, after hitting a session high of $52.29 a barrel. U.S. West Texas Intermediate crude oil futures were trading at $49.65 per barrel, down 70 cents from their last settlement, after hitting a session high of $50.58. Spot gold was up 0.4 percent at $1,255 an ounce. Silver added 0.1 percent to $17.36 an ounce. Platinum fell 0.1 percent to $931 an ounce. Palladium lost 1 percent to $636, after hitting a near three-month low of $629.22 in the previous session.

In US Equity Markets stocks  inched lower in a choppy session on Monday as an advance in technology and financial stocks offset the effects of lower oil prices and a fall in healthcare stocks. The S&P 500 was down 0.12 percent, at 2,130.45 and the Nasdaq Composite was down 0.1 percent, at 5,209.21. Bank of America reversed course to trade down 0.15 percent, despite its profit rising for the first time in three-quarters and also topping estimates.  Allergan fell 1.7 percent after FDA staff said the drugmaker's urinary treatment had not been adequately studied in clinical trials. Netflix fell 2.5 percent as analysts anticipate weakness in subscriber growth when the video streaming website reports third-quarter results after markets close.

In Bond Markets U.S. Treasury yields fell on Monday, pulling back from four-month highs, as bargain-minded investors bought bonds whose prices had fallen after Federal Reserve Chair Janet Yellen said last week the central bank may tolerate inflation above its 2-percent goal. Benchmark 10-year Treasury notes were up 3/32 in price for a yield of 1.782 percent, down 1 basis point from late Friday. British 10-year government bond yields were last at 1.131 percent, falling from 1.223 percent in European trading, the highest since June 20. German 10-year bunds were last yielding 0.064 percent, falling from 0.104 percent, their highest since June 24.

Source: Institute of Trading and Portfolio Management