US data releases continued to point to robust momentum in the economy - ANZ

Analysts at ANZ explained that US data releases continued to point to robust momentum in the economy as the Q3 data trail draws to a close.

Key Quotes:

"That helped to steady the USD which was on the back foot during the London morning session. The crisis in Spain, meanwhile, is continuing to rumble on and that was reflected in a near 3% drop in the IBEX 35 and further widening in bond spreads (Spanish 10y bond yields rose 6bps)."

"The Catalans are expected to declare independence from Madrid shortly. The strength in the US data is supportive of the positive earnings outlook, which provided support to US equities. The S&P 500 index rose 0.2%, marking another record high."

"The German DAX was also firmer, rising 0.5%, with other major European equity markets (CAC 40, FTSE 100) unchanged."

"The yield on the US 10-year note edged up 1bp to 2.33%. WTI initially rose on a larger than expected drawdown of US inventories, but dropped back below USD50 in the New York afternoon. Gold was little changed (+0.2%) at $1275/oz at the time of writing."