Asian investors are digesting a mixed US jobs report released on Friday. The rate for the jobless category dropped to 16-year lows at 4.2% in September, with wage gain of 0.5% – both beating market expectations.
Strong wage growth and decade-low unemployment rate helped to underpin disappointing non-farm jobs data, which dropped -30k due to major disruption brought by Hurricane Harway and Irma last month.
The likelihood of a December rate hike, according to CME’s FedWatch tool, has gone up to above 92% last Friday. The US dollar index fell from a two-month high of 94.1 to around 93.6 this morning, as the market is still digesting the jobs data.
EUR/USD rebounded to 1.173 area after testing immediate support level of 1.168 (78.6% Fibonacci extension). Technically its 10-Day Moving Average line and SuperTrend (10,2) are both trending downwards, suggest downtrend momentum prevails.
US indices hovered around record levels after the release of jobs data last Friday. Investors are waiting for the third quarter earnings season to support the recent rally and stocks’ rich valuation. The S&P 500 index consolidated near record high of 2,550 points as President Trump twitted that there is only “one way to resolve” the North Korea Nuclear threat, which was widely suspected to be the ‘military option’.
In Singapore, the Straits Times Index is facing some selling pressure at the technical resistance level of 3,300. Investors are also waiting for the earnings season to kick off this Wednesday to paint a clearer picture of outlook. This Friday’s advanced GDP data is also critical to Singapore’s stock market movement in the weeks to come. The STI has underperformed major developed markets over the last two months due to lack of positive surprises. Strong earnings and economic data are needed to wake up market participants in the fourth quarter.
|Singapore Press Holdings Ltd||SPH SP||10/11/2017||Y 17||0.146|
|Singapore Exchange Ltd||SGX SP||10/19/2017||Q1 18||0.09|
|Keppel Corp Ltd||KEP SP||10/19/2017||Q3 17||0.105|
|CapitaLand Commercial Trust||CCT SP||10/20/2017||Bef-mkt||Q3 17|
|Ascendas Real Estate Investment Trust||AREIT SP||10/20/2017||Q2 18|
|CapitaLand Mall Trust||CT SP||10/20/2017||Aft-mkt||Q3 17||0.029|
|Hutchison Port Holdings Trust||HPHT SP||10/24/2017||Q3 17||0.041|
|Oversea-Chinese Banking Corp Ltd||OCBC SP||10/26/2017||Bef-mkt||Q3 17||0.235|
|Sembcorp Industries Ltd||SCI SP||10/27/2017||Q3 17||0.043|
|DBS Group Holdings Ltd||DBS SP||10/31/2017||Q3 17||0.448|
|StarHub Ltd||STH SP||11/2/2017||Q3 17||0.044|
|Singapore Airlines Ltd||SIA SP||11/3/2017||Q2 18||0.09|
|Genting Singapore plc||GENS SP||11/3/2017||Q3 17||0.01|
|United Overseas Bank Ltd||UOB SP||11/3/2017||Q3 17||0.488|
|Global Logistic Properties Ltd||GLP SP||11/8/2017||Q2 18||0.014|
|Jardine Cycle & Carriage Ltd||JCNC SP||11/8/2017||Q3 17|
|Yangzijiang Shipbuilding Holdings Ltd||YZJSGD SP||11/8/2017||Q3 17||0.14|
|CapitaLand Ltd||CAPL SP||11/9/2017||Q3 17||0.045|
|UOL Group Ltd||UOL SP||11/10/2017||Q3 17||0.113|
|SATS Ltd||SATS SP||11/10/2017||Q2 18||0.053|
|ComfortDelGro Corp Ltd||CD SP||11/10/2017||Q3 17||0.035|
|Singapore Technologies Engineering Ltd||STE SP||11/10/2017||Q3 17||0.04|
|City Developments Ltd||CIT SP||11/10/2017||Q3 17||0.13|
|Wilmar International Ltd||WIL SP||11/10/2017||Q3 17||0.06|
|Singapore Telecommunications Ltd||ST SP||11/10/2017||Q2 18||0.059|
|Golden Agri-Resources Ltd||GGR SP||11/14/2017||Q3 17||0.002|
|Thai Beverage plc||THBEV SP||11/17/2017||Y17||1.08|
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