Morning Update – 21/10/15 – 10:01:16

October 21, 2015 by

Morning all.. US stocks had a mixed session with weak oil prices keeping a cap on and eventually closed down very slightly but Asia has seen a jump in S&P futures as the Nikkei jumped on poor data suggesting the BoJ may add to QE at the end of the month when the BoJ meet again. USDJPY maintained strength from the US session but failed to break above 120.00 so far. The trade balance in Japan recorded a seasonally adjusted deficit of ¥355.6bn for September, slightly narrowing from ¥373.5bn deficit in August. Both nominal exports (-1.7%mom, after -0.5%mom in August) and imports (-1.9%mom, -0.6%mom in August) weakened. For the July-September quarter (3Q), nominal exports were almost flat at +0.2%qoq, while nominal imports expanded +2.2%qoq. In terms of percentage of GDP, the trade balance for 3Q was -0.9%, compared with -0.5% in 2Q. The US10y yield fell 1bp to 2.058% after rising overnight as some suggested there was selling of US Treasuries and buying of stocks in the US session going through.. S&P futures are currently up 9 points. HK markets were closed.. This morning we get UK Public sector borrowing data and that is it for the day but we do have the Bank of Canada rate setting meeting; they are expected to leave rates unchanged. Good luck..