07.11.16

Good morning,

The week of the US election which has the world markets on edge as American voters go to the polls. The Bank of Japan released minutes from their most recent Monetary Policy meeting. The bank will look towards interest rate policy and to make policy adjustments as appropriate if judged necessary for maintaining the momentum toward achieving the 2% price target. USDJPY trading at 104.44 at time of writing. Australian figures released included the AiG Performance of Construction Index and the ANZ Job Advertisements figures for October were published. AUDUSD was trading at 0.7678 at time of writing.

In Europe this session German Factory Orders are the first item on the agenda today. Norway release Manufacturing Output figures for September. There will be numerous pieces of European data throughout the session with Danish and Spanish Industrial data, Swiss Consumer Price Index figures for October and the Halifax House Prices for October before the Euro Zone Retail Sales figures for September are announced. EURGBP trading at 0.8908 at time of writing. Inflation Report Hearings and the NIESR GDP Estimate out of Britain will be the main data for tomorrow.

In the US all eyes will be on the Election. Voting will take place across all 51 states, with a total of 270 Electoral College seats are needed by a candidate to secure the role of President. Hillary Clinton is the expected winner, and currency and bond markets are shifting towards the expected outcome. USD gaining ground on all pairs except the South African Rand and the Mexican Peso this morning. EURUSD trading at 1.1058 at time of writing.

I hope you all have a good week.