07.11.14

Good morning,

The Reserve Bank of Australia Monetary Policy Statement released overnight saw that the current policy is "very accommodative" because lower interest rates are supported by a recent decline in the currency. The AUD weakened against the other major currencies in the Asian session after the release, trading at 0.8567 against the USD at time of writing. In Japan foreign investment in stocks and bonds grew according to figures released overnight for the end of October. USDJPY trading at 115.32; a level not seen since 2007.

The NIKKEI was trading at 16880.38 up 87.90 points, an increase of 0.52%

European figures today saw the Swiss unemployment rate remain unchanged at 3.2% Germany’s Trade Balance saw an increase in both imports and exports, however Industrial Production figures disappointed slightly, with the expected 2% increase for September actually coming in at 1.4% The EURO has fallen to a fresh low again this session of 1.2368 against the USD, a level not seen since 2012. British Trade Balance figures are due out this session. Swiss Retail Sales figures out this session with USDCHF printing yearly highs this session of 0.9735

The FTSE100 was trading at 6572.26 while the DAX was trading at 9409.47 both up in the region of one third of one percent shortly after the session opened.

The US today will see the updated unemployment figures, which are expected to remain at 5.9%, the Non-farm Payrolls figures are out at the same time as are the Canadian unemployment figures. We can expect the volume of USDCAD trades to be somewhat higher around this time. USDCAD was trading at 1.1442 with a weekly high of 1.1466 printed on Wednesday, the highest the pair has been since 2009. The FED president Janet Yellen will meet with other international central bank members in France today at the Eco Fin meeting.

The DOW closed at 17554.47 up 69.94 points or 0.40%

Hope you all have a nice weekend.