Market Movers

Major market movers so far:

• RBA cuts rates 25 bps to 3.25%
• Spain’s September jobless rises 1.7% m/m, by 79,645 to 4.7 million (bad for EUR)
• Rajoy tells party he won’t seek rescue this weekend – Europa press
• UK September Nationwide house prices -0.4% m/m, -1.4% y/y, weaker than Reuters’ median forecasts flat, -0.8% respectively
• UK September construction PMI rises to 49.5 from 49.0 in August, but not quite as good as the median forecast of 49.8
• Eurozone August PPI rises 2.7% y/y, marginally above Reuters’ median forecast of +2.6%