XE Market Analysis: Europe – Oct 12, 2015

Narrow ranges have prevailed in early-week trading, with volume and impetus flagging with Japan out today, and U.S. and Canada also due to be closed for public holidays. Despite this, risk-on remained the dominant theme, reflected by commodity prices gains (copper up over 0.5%, oil prices by around 1%) and mostly-higher stock markets in Asia, led by continued gains in China (Shanghai Composite was showing a 3.3% gain in late PM session). This backdrop has maintained a firm tone in the AUD and other commodity currencies AUD-USD has logged a seven-week peak at 0.7353.