11.11.14

Good morning,

Japanese Machine Tool Orders reached 31.2% for October, compared to 34.8% for the same month of the previous year. The Consumer Confidence Index fell to 38.9 from 39.9 USDJPY trading at 115.75 a level not seen since October 2007. Later this week we will see the Machinery Orders from Japan, and Chinese New Loans data for October is expected in the coming 24 hours. Reserve Bank of New Zealand Governor Greame Wheeler is scheduled to speak in the coming hours.

The NIKKEI was trading at 17124.11 up 343.58 points or 2.05%

We expect very little fundamental data due for release today in Europe. European Central Bank member Yves Mersch conceded that the ECB buying government debt was a possibility. EURUSD trading at 1.2411 British Total Trade Balance fell by £2.838B EURGBP was trading at 0.7830 at time of writing. Tomorrow will see the important Bank of England Quarterly Inflation Report, and the ILO Unemployment Rate for the UK, expected to come in at 5.9% from 6.0%

The FTSE100 was trading at 6618.66 while the DAX was trading at 9384.95

Markets in the US and Canada remain closed for Veteran’s Day and Remembrance Day holidays. USOIL trading at $76.67 per barrel with GOLD trading at $1149 per ounce at time of writing. Thursday will see Jobless Claims figures before the important Retail Sales figures release on Friday. USDCAD trading at 1.1395 while USDCHF trades at 0.9691 US President Barak Obama was in Beijing where the Asia-Pacific Economic Cooperation summit is taking place.

The DOW closed at 17613.74 up 39.81 points an increase of 0.23%

Hope you all have a nice day.