UPDATE 2-Cricket-O'Keefe's dozen helps Australia humiliate India
* India all out for 107 (Updates after Australia win, adds quotes)
SYDNEY, Oct 11 (IFR) - Market Briefs * US Employment trends 128.5 v 128 pvs * Bank of Italy's Visco: Negative rates while challenging are becoming normal * USD rises broadly; cable falls on weak UK outlook; MXN strengthens after bumps on Trump campaign trail * Wall St rises as Clinton seen winner of second debate, Oil reaches 1-yr high after Russia signals joining output cap * OPEC chief optimistic of agreement with non-OPEC states on production cut - Reuters News * UK Brexit minister Davis says need to move forward on domestic legislation in parallel w/EU talks * Brazil's Temer: confident spending cap to be approved, crucial for country; no plan B Macro Themes in Play * Markets better, oil to new YTD best singlehandedly driving risk sentiment; higher rate move overlooked, commodity complex holds up well * Saudis, Russians hint at agreement next month on crude output; markets press bets on rate hike, figure higher oil gives Fed window to tighten, Dec trades at 7-in-10 * Europe leads bond market rout (US closed), Bunds highest yield since Brexit, yield curve clean break through 200 dma as ECB tapering talk sinks in * USD grinds against EUR, JPY and GBP on rate hike play, US semi-holiday kills activity; AUD, CAD, EM higher with stocks/commodities Looking Ahead - Economic Data (GMT) * 21:45 NZ Electronic Card Retail Sales mth Sep -0.4%-prev * 21:45 NZ Elec Card Retail Sales YY* Sep 3.7%-prev * 23:50 JP Current Account NSA JPY* Aug f/c 1539.1b, 1938.2b-prev * 00:30 AU NAB Business Conditions Sep 7-prev * 00:30 AU NAB Business Confidence Sep 6-prev * 00:30 AU Housing Finance* Aug f/c -2.5%, -4.2%-prev * 00:30 AU Invest Housing Finance* Aug 0.5%-prev * 05:00 JP Economy Watchers Poll* Sep 45.6-prev Looking Ahead - Events, Other Releases (GMT) * 02:00 US FRB-Chicago Pres Evans speaks on current economic conditions and monetary policy before an Australian Business Economists luncheon Currency Summaries EUR/USD * EURUSD slips lower, all one-way in slow US semi-holiday trade * USD broadly higher as Fed rate hike odds firm behind oil prices * Rate spike, steeper curve in Euro bond markets limiting EUR downside * ECB tapering talk having an effect, could still ruin plans for EUR bears * All eyes on EURUSD pennant boundaries, 1.1090-1.1250 USD/JPY * USD/JPY rode the USD rise & risk-on flows past the hrly & daily Cloud tops * Latter rises to 103.52 on Tues, so Monday's rebound was timely * Mkt now pricing in c70% risk of a Fed rate hike, w stocks & oil also rising * Risk-on flows are a weight on the haven JPY & massive spec longs * Might be seeing better risk flows on receding US election vol concern, too * Mkt still not expecting much from BOJ's YCC or CPI promises * JPY off hard v MXN, CAD and other energy-linked CCYs * CAD/JPY's taking another run at Cloud cover resistance & M-T dn TL USD/CHF * USD/CHF up on USD strength, 0.9839 high nearly identical to Friday's * Higher low & close add to the bullish bias, despite mediocre NFP Friday * Market pricing in roughly 70% probability of Dec Fed hike now * Stocks, oil and EM up, helping risk & weighing on CHF & JPY havens * EUR/CHF rose to 1.0972, by last week's 76 highs before a late slide * Seeing some topping and tailing inside 1.09-1.10; SNB's bid c1.08 GBP/USD * GBP/USD opens NorAm 1.2426 moves steadily lower to 1.2360 by sessions end * Flows light owing to US Columbus day holiday, Bond marts closed, no significant data * Pair holds abv Fri.'s recovery low, Hard Brexit remains the focus * EUR/GBP flat on the day, ends NY 0.9015, early 2017 Brexit sees rising vols * Traders defensive, despite recent spate of decent UK data, pot'l lack of c/a funding weighs USD/CAD * USD/CAD 1.3225/88 O/N, Noram 1.3140/3270, close 1.3170 (NY -90 pips) * DXY +0.3%; US bond mkt closed-Columbus Day, Canada closed-Thanksgiving * Consequently UST/CA 2Y sprd "unch". USD/CAD plunged as oil soared * Brent/WTI +1.9/2.7% on Russia headlines Gold +0.17% * CAD/JPY +1.63, 78.67, AUD/CAD -0.6%, 1.0010; EUR/CAD 1.4660 -1.56% * Tue- Light data, Canada housing starts, US empl trends, NFIB [page:2417] AUD/USD * AUD/USD opened NY 0.7590, NY range 0.7587/7629, O/N range 0.7581.0.7614 * Oz closing c 0.7605, +0.26% DXY +0.30% (+0.15% NY) AUD/JPY 78.84, +1.12% * AUD/CAD -0.25%, 0.9796, S&P -0.17% (+0.08% NY) Iron ore +2.2%, copper +0.15% * Gold -0.5%. CAD led commodity ccys lower [page:2346] AUD/CAD +0.3% in NY trade * AUD/NZD traded 1.0616/79 in NY, close 1.0662; EUR/AUD 1.4645, -0.78% * Z credit card data & Aussie weekly cons conf, Japanese data due O/N [page:2417] NZD/USD * NZD/USD opened NY 0.7139, traded 0.7123/46, closed @33 (O/N 0.7134/0.7202) * A quiet Noram session with Canada & US bank holidays DXY +0.31% (+0.16% NY) * S&P +0.57% (+0.10% in NY) Kiwi traded soft all day vs commodity ccy peers * NZD/CAD -1.25%, 0.9383 after Brent & WTI spiked on Russia h'lines * Brent +2.1%, WTI +2.85%, Nov milk -1.4%, gold +0.2%, corn +1.0%, wheat +2.5% * NZ credit card data & Aussie weekly cons conf, Japanese data due O/N [page:2417] LATAM * USD/MXN falls 2.25%, set to end NorAm 18.8880 near 1-mos lows * Trump in crisis after lewd remarks about women come to light * Peso gains as key focal points, oil, US rates and US election now MXN positive * USD/BRL moves lower in sympathy, drops 0.25% to 3.2115 by NY session end * Brazil's Temer confident of spending cap but has no plan B * USD/CLP steady at 670, Chilean mkts closed for holiday, likely rises Tues as copper +1.4% GBP fall may be focus at BoE Saunders' TSC hearing Michael Saunders, the newest member of the BoE MPC, will attend his TSC appointment hearing Tuesday starting 0900GMT. Saunders joined the MPC in August, shortly after the BoE loosened UK monetary policy. Saunders, who last week said he had not decided how to vote when the MPC meets next month, is likely to face questions on the impact of recent GBP losses on inflation and the outlook for monetary policy. Back in May, the Telegraph reported a "private warning" from Saunders via a third party, that Brexit "will force rates up to 3.5% within 18 months". A GBP collapse sending UK inflation sharply higher was the mooted justification. The recent GBP fall to a 31-year low against the USD and 7-year low against the EUR has lessened the probability of another BoE rate cut on Nov 3, and raised the risk of BoE rate rises to fight an inflation spike. See related items:
* India all out for 107 (Updates after Australia win, adds quotes)
NEW DELHI, Feb 25 A unit of Indian engineering conglomerate Larsen & Toubro has won an onshore engineering, procurement and construction (EPC) contract from Indian Oil Corp Ltd, the country's largest refiner, worth 11 billion rupees ($165 million), it said in a statement on Saturday.
PUNE, India, Feb 25 India were dismissed for 107 in the second innings of the first test against Australia on Saturday. Below are India's lowest totals in test matches played on home soil.