It looks like today could potentially be an active one for trading in AUD and Australian stocks. The big story in North American trading today has been the massive rally in USD which rolled like a cyclone over commodities and currencies crushing everything in its path. With Europe facing political and financial turmoil, China struggling and Japan potentially needing more stimulus and reform following a soft economy and cabinet shuffle, the US has come out as relatively stronger on many fronts and because of this, has once again become the default destination for capital looking for a haven. Today’s better than expected ISM manufacturing PMI and US construction spending showed that the US economy has maintained its momentum through the summer keeping the pressure on the Fed to start withdrawing stimulus than previously planned. Hawkish speculation ignited USD, sending gold done over $20.00/oz and crude oil to a 3% loss at one point during the day. The USD also crushed a number of other paper currencies. The resource Dollars, AUD NZD and CAD all were hit by lower commodity prices. JPY fell on speculation the Bank of Japan may need to take an even more dovish tone at this week’s meeting while GBP dropped on growing concerns about the Scottish independence referendum in a little over two weeks. While the USD sent a decisive signal about which way traders think the wind is blowing, stocks were more mixed and uncertain. The NASDAQ closed at an all-time high again but the Dow and S&P finished down on the day. Meanwhile, Canadian stocks were not down as much as one would have thought considering their higher weighting in resource producers. To no surprise, energy producers and miners had a really rough day which has the potential to impact Australian share trading and the S&P/ASX. In addition to this, it’s a big day for data with service PMI data due for China, Australia, Japan and others. Manufacturing PMIs were already soft and confirmation of weakness from the service side could impact trading in indices and currencies across the region. Australian markets in particular may also be active on today’s GDP report. The Nikkei rallied yesterday on speculation of more stimulus and may be active through the week as data and the BoJ meeting signal whether this is realistic or not. Economic News Significant announcements released overnight include: Canada manufacturing PMI 54.8 vs previous 54.3 US Markit manufacturing PMI 57.9 vs street 58.0 US ISM manufacturing PMI 59.0 vs street 57.0 US construction spending 1.8% vs street 1.0% Singapore PMI 49.7 vs street 51.0 Singapore electronics sector 50.7 vs street 51.9 UK construction PMI 64.0 vs street 61.5 Eurozone producer prices (1.1%) as expected Spain unemployment 8K vs street 21K Upcoming significant announcements include: 9:30 am AEST Australia service PMI previous 49.3 11:00 am AEST China non-manufacturing PMI previous 54.2 11:30 am AEST Australia GDP street 3.0% vs previous 3.5% 11:35 am AEST Japan service PMI previous 50.4 11:45 am AEST China HSBC service PMI previous 50.0 3:00 pm AEST India service PMI previous 52.2 7:30 am BST Sweden service PMI previous 46.4 8:15 am BST Spain service PMI previous 56.2 8:45 am BST Italy service PMI previous 52.8 8:50 am BST France service PMI previous 51.1 8:55 am BST Germany service PMI previous 56.4 9:30 am BST UK service PMI street 58.5 10:00 am BST Eurozone retail sales street 0.9% 9:00 am EDT Brazil service PMI previous 50.2 9:45 am EDT ISM New York previous 68.1 10:00 am EDT Canada interest rate 1.00% no change expected 10:00 am EDT US factory orders street 11.0% 2:00 pm EDT US Beige book