ASIA WRAP: RBA Deliver On Expectations

*RBA cash rate unchanged at 0.75%
*Indonesia GDP y/y in line 5.02%; est. 5.01%
*Xi urges greater openness at CIIE


  • Volatility was soft through Asia session with many stopping to watch the Melbourne Cup (congrats Vow And Declare).
  • AUDUSD +0.25% found support through the RBA rate decision, a hold as expected.
  • NZDUSD +0.03% churned around 0.64.
  • USDJPY +0.22% edged higher as Xi's CIIE speech buoyed US-China trade cooperation.
  • USD was broadly weaker against EM FX on US-China trade hopes. 
  • USDCNH -0.10% finished at 7.023.


  • Equities continue a decent start to November with a broad bid across the board as markets eschew negative news.
  • ASX 200 +0.32% chopped around after jumping at the open dragged down by financials.
  • S&P 500 Futures +0.18%.
  • Nikkei Futures +2.01% as USDJPY climbed.
  • CSI 300 Futures +1.01%.
  • Hang Seng Futures +0.43%.

Fixed Income:

  • Yields ticked higher on general risk sentiment. 
  • US 10y yields +2.5bps.
  • AUS 10y yields +2bps.


  • Brent Crude Futures -0.02%. 
  • Gold Spot -0.26% pulled back as higher prices dampened demand somewhat.