06.11.14

Good morning,

Over the preceding 24 hours we saw the Bank of Japan’s Meeting Minutes from early October following which the Bank increased Government Bond buying leading to the current Yen weakness. USDJPY trading at 114.33 The pair reaching a high of 115.51 this session a level not seen since 2007. The Australian Unemployment Rate now stands at 6.2% the AUDUSD trades for 0.8618 at time of writing. In the coming 24 hours we will see the foreign investment figures in Japan and the Reserve Bank of Australia Policy Statement.

The NIKKEI was trading at 16792.48 down 144.84 from yesterday’s close, a decline of 0.86%

In Europe this session we see both the Bank of England and the European Central Bank give Interest Rate decisions. Currently the rates stand at 0.5% and 0.05% respectively. EURUSD trading at 1.2507 with EURGBP trading at 0.7825 The BoE is expected to keep rates at this level which are in effect since 2009. The consensus is that the ECB is also going to leave their rates unchanged with the monetary policy statement and press conference following the announcement of the updated rate.

The FTSE100 was trading at 6504.80 while the DAX was trading at 9281.40 shortly after the open of the session this morning.

Today with eyes firmly fixed on Europe the American Jobless Claims figures for the 1^st of November will be published, as will the Canadian Ivey Purchasing Managers Index for the month of October. USDCAD trading at 1.1391 ahead of the unemployment figures from both Canada and the US due tomorrow. The Canadian rate is expected to rise to 6.9% from 6.8% while the United States unemployment rate is expected to remain unchanged at 5.9%

The DOW closed at 17484.53 up 100.69 points or 0.58%

Hope you all have a nice day.