The Aussie and the Kiwi are the top performing currencies this morning in what seems to be a modest risk-off mentality prevailing across markets. However, in stark contrast to the safety-bid, the Yen and the Swiss Franc are the weakest currencies at the moment. Data during the Asian session saw Australian building permits data decline more than expected, posting a -6.90% decline for the month, below estimates of -2.00%. On an annualized basis, building permits grew at a slower pace of 5.10%, below forecasts of 7.40% expansion and softer than last month's 13.40% annualized growth. The markets could see some volatility in a relief rally as institutional investors square off their positions ahead of the end of the quarter today. The S&P500 index has bounced off key support at 1873 and is currently trending higher following yesterday’s gains with resistance at 1915.
Quarterly Window Dressing
Analisi Giornaliera - 30/09/2015