FPG Overnight Headlines 17/11/2022

Overnight headlines 

The US 10-year note’s yield decreased 8 basis points to 3.69 percent. 

In terms of S&P 500 industry groupings, energy led the declines on Wall Street, driving nine of the 11 lower. The second and third biggest losers were in the consumer discretionary and information technology sectors. 

After tensions in Ukraine subsided, the price of oil momentarily dropped below $US92 a barrel; Ukrainian and NATO officials came to the conclusion that the missile that crashed in Poland and killed two people was a Ukrainian defensive weapon. 

More resistance to raising US interest rates also dampened enthusiasm. 

The October jobs report will be made public. NAB previously stated: “Given some unfavourable sample variance, there is greater uncertainty surrounding the October data than usual. 10,000 people will be employed, and the unemployment rate will increase by 0.1% to 3.6%, according to our estimates. 

Market movements 

• The Australian dollar fell by 0.4% to 67.29 US cents, 

• The price of bitcoin fell by 2% to $16,541. S&P -0.8% Nasdaq fell 1.5% 

• Stoxx 50 in Europe fell by 0.8% FTSE -0.3% CAC -0.5% DAX -1% 

• Spot gold fell by 0.3% to $US1772.89/oz;  

• Brent crude fell by 1.6% to $US92.40/barrel;  

• Iron ore increased by 2.5% to $US98.10/ton 

• the 10-year yield was US 3.69%. Germany 1.99% Australia 3.72 percent 

Today’s agenda 

Local: October employment; third-quarter NZ PPI 

Overseas data: The October final CPI for the Eurozone, the October home starts and building permits in the US, the November Philadelphia Fed index, and the November Kansas City Fed index