12.11.14

Good morning,

Reserve Bank of New Zealand’s Greame Wheeler spoke mainly about the housing market in New Zealand and gave little hint as to monetary policy going forward. NZDUSD trading at 0.7861 following the scheduled speech. Australian dollar has gained ground on the Greenback with AUDUSD trading at 0.8719 The Reserve Bank of Australia is confident inflation is within reach of the 2% to 3% target.

The NIKKEI was trading at 17197.05 gaining 72.94 points or 0.43%

The focus in Europe today will be on the Bank of England and their Quarterly Inflation Report which is due out this session. GBPUSD trading at 1.5923 ahead of the publication. The British Unemployment rate will be released beforehand, and the rate is expected to fall to 5.9% from 6.0% for the third quarter. German Wholesale Price Index figures disappointed somewhat this session, falling by 0.6% for the month of October, when a drop of only 0.4% had been expected. EURUSD trading at 1.2454 at time of writing.

The FTSE100 was trading at 6619.29 while the DAX was trading at 9334.08

Across the Atlantic we will see the Wholesale Inventories for the month of September coming out of the US today. Later in the week we expect Jobless figures tomorrow, with the important October Retail Sales figures, which are expected to grow by 0.2%. Bank of Canada will publish their quarterly Review on Thursday. USDCAD trading at 1.1326 at time of writing.

The DOW closed at 17614.90 at the end of yesterday’s session.

Hope you all have a nice day.