|08:30||GBP||BOE Credit Conditions Survey|
|12:30||USD||Core PPI m/m||0.1%||0.2%|
|14:30||EUR||ECB President Draghi Speaks|
|14:30||USD||FOMC Member Brainard Speaks|
|14:30||USD||FOMC Member Powell Speaks|
|15:00||USD||Crude Oil Inventories||-6.0M||-1.9M|
|00:30 (Oct 13th)||AUD||RBA Financial Stability Review|
|07:15 (Oct 13th)||CHF||PPI m/m||0.3%||0.3%|
Asian markets ended broadly higher on Wednesday, extending a month long rally that has ignored the possibility of capital leaving Asian markets if the U.S. raises interest rates this coming December. South Korea outperformed for the second session in a row, but Japan’s Nikkei rose to a 21-year high by the close.
European markets breathed a sigh of relief after Catalan president Carles Puigdemont said he was putting independence plans on hold and would seek talks with Madrid instead. Spain’s IBEX 35 rallied strongly on the news, although markets across the rest of Europe were little changed as the news also caused the Euro to rally. London’s FTSE was little changed as well, with investors there awaiting some catalyst to send the index into record territory for the first time since May.
U.S. markets were flat for much of the day as investors awaited the release of the September Federal Reserve meeting minutes. Those meeting minutes were more dovish than expected, letting investors know that a December interest rate hike is not a sure thing. Equity markets responded by rising, albeit modestly, to finish the session at new record levels.
The seventh largest cryptocurrency by market cap has been moving higher this week, but a look at the longer term shows the coin still in a downtrend from its September 23 high around $350. Until DASH gets above the $310 level the downtrend remains intact. Wednesday saw DASH reach the $300 level, where it hit a wall of resistance, but not enough to send it lower as it strives to reach the key $310 level.
If you believe in buying dips copper may be of interest as it pulled back off a four week high Wednesday. Longer term prospects for the industrial metal look strong as demand looks to outstrip supply in the fourth quarter of 2017.