EQUITIES

Asia-Pacific markets higher on Asian afternoon trade. The Nikkei 225 led the gains advancing at 1.24%. Australia’s S&P/ASX 200 rose 1.01%, South Korea’s up 0.70%, Singapore’s Straits Times index rose 0.49%, and Hang Seng index in Hong Kong at 0.69% higher, while the Shanghai composite at -0.33% lower. In Thailand, the SET Composite index fell more than 1.5% as protests continue in the country.

OIL

Oil prices slipped, as surging coronavirus cases globally are impacting demand.  Brent crude futures traded to $42.80 a barrel, while U.S. crude at $40.72.

On Thursday, Brent closed at $42.93 per barrel, while WTI futures ended at $40.88 per barrel.

CURRENCIES

The U.S. dollar index, which tracks the greenback against a basket of its peers, was last at 93.76 after touching levels around 93.9 in recent days.

The yuan and risk-sensitive Australian and New Zealand dollars dipped from session highs after China’s GDP headline miss but stayed bought on views the consumption data was a harbinger of better growth in the current quarter.

The yuan was last steady in onshore trade at 6.6982 per dollar, Aussie and kiwi dollar both edged 0.1% higher.

GOLD

Spot gold currently trading at $1,900.40 per ounce, while stands around $1,903.80 per ounce for gold futures. Previously closed at $1,899.70 and $1,906.40, respectively.

Silver trading at $24.10, platinum trading at $855.00 and palladium trading at $2,222.00.

ECONOMIC OUTLOOK

Asian markets advanced toward a recent 2-1/2-year peak on Monday, as investors reacted to Chinese economic data and renewed hope for U.S fiscal package and expectations of a coronavirus vaccine by the end of this year.

On Saturday night, House Speaker Nancy Pelosi says stimulus deal must be agreed to within 48 hours or package won’t pass before Election Day.

China's economic data today:

- Q3 GDP grew 4.9% YoY.

- Q3 GDP grew 2.7% QoQ.

- September retail sales grew 3.3% YoY.

- September industrial output grew 6.9% YoY.

- Jan-Sept fixed asset investment grew 0.8% YoY.

Japan’s exports fell 4.9%.

Drugmaker Pfizer Inc said on Friday it could have a coronavirus vaccine ready in the U.S. by the end of this year.

To date, number of confirmed worldwide cases for COVID-19 pandemic has surpassed 39.898 million affecting 213 countries and territories around the world and 2 international conveyances, recording more than 1.112 million fatality globally.

TECHNICAL OUTLOOK

[USDJPY]

Important Levels to Watch for Today:

- Resistance line of 105.513 and 105.593.

- Support line of 105.252 and 105.172.

Commentary/ Reason:

- The yen was steady at 105.43 per dollar.

- The USD/JPY pair has stalled around the current range for some time.

- USD/JPY on Monday was modestly higher as the dollar strengthened on renewed hope for U.S fiscal package and expectations of a coronavirus vaccine by the end of this year.