02.12.16

Good morning,

A quiet session in Asia leading into the weekend with just the Aussie Retail Sales figures for October and Japan's Monetary Base data for November released overnight. USDJPY trading at 113.98 at time of writing. Looking ahead to next week, the Reserve Bank of Australia is scheduled to update Interest Rates, although markets are not expecting any deviation from the current 1.5% AUSUSD trading at 0.7419 at time of writing.

In Europe the session got underway with Swiss Gross Domestic Product figures missing expectations in the third quarter. EURCHF trading at 1.0787 at time of writing. Spanish Unemployment Change figures, Hungarian Trade Balances and Sweden's Current Account data will all lead into the Purchasing Manager's Index out of the United Kingdom, and the Producer Price Index data out of the Euro Zone. Sunday the 4th of December will see voting take place in the Italian Referendum.

Unemployment data will take centre stage today in both the United States, and Canada, where both rates are expected to remain unchanged at 4.9 & 7% respectively. USDCAD trading at 1.3305 at time of writing. Loonie strength on the back of the recent OPEC meeting, where it is reported there will be a cut in Oil Production by the majority of member producer nations. USOIL was trading at $50.88 per barrel at time of writing, up from between 45 and 46 dollars pre-meeting.

I hope you all have a nice weekend.