04.11.14

Good morning,

The Reserve Bank of Australia left Interest Rates unchanged at 2.5% as had been expected. AUDUSD trading at 0.8730 Following the Japanese bond buying increase the Yen has fallen, leading to speculation that other exporting nations in Asia will follow suit and devalue their currencies. USDJPY trading at 113.59 with Japanese Vehicle Sales figures decreased by 9.1% year on year for October.

The NIKKEI was trading at 16862.47 up 448.71 points or 2.73%

Europe today will hear the updated Spanish unemployment change for October while the United Kingdom’s Purchasing Manager’s Construction Index is expected out at 63.5 down from 64.2. Euro Zone Producer Price Index figures for September will also be published this session, as will the European Commission Economic Growth Forecast. EURUSD trading at 1.2507 The Bank of England is expected to leave rates unchanged at 0.5% this Thursday. CABLE trading at 1.5990

The FTSE100 closed at 6487.97 while the DAX finished trading at 9251.70 yesterday, both dropping just under one percentage point.

The Canadian session will open today with Trade Balance figures and a look at Import/Export data for September. The Bank of Canada will speak later in the session, with the Canadian Unemployment data for October due out on Friday. USDCAD trading at 1.1372 In the US today we will see the Redbook Index for October and Factory Orders for September. Looking ahead to later in the week we await the ISM Non-Manufacturing PMI tomorrow and Non-Farm Payrolls on Friday.

The DOW closed at 17366.24 down just 24.28 points or minus 0.14%

Hope you all have a nice day.