15.11.16

Good morning,

The Reserve Bank of Australia's meeting minutes expects core inflation to pick up, and that the rates were left untouched at the record low level of 1.5% as the assessment was that inflation would return to normal levels. The minutes said the increase in coal and iron ore prices helped to buoy the economy. AUDUSD trading at 0.7565 at time of writing. Governor Phillip Lowe is scheduled to make a speech this session as well. New Zealand Retail Sales figures in the coming 24 hours. NZDUSD trading at 0.7113 at time of writing.

In Europe this session German Gross Domestic Product missed expectations in the third quarter. Down slightly on forecasts to 1.7%, when there was a 1.8% figure printed this time last year. GDP figures out this morning for Finland, Romania, Norway,Hungary, The Czech Republic, the Netherlands, Italy, the Euro Zone and Portugal, so an agenda full of information this session. Consumer Price Indices data is also on the agenda main talking point of the session will the United Kingdom CPI figures. EURGBP trading at 0.8664 at time of writing.

Across the Atlantic today we will see the October Retail Sales figures out of the US. Import and Export Price Indices are also on the calendar, as are Business Inventories, and the Redbook Index. USOIL trading at $44.30 at time of writing ahead of the API Weekly Crude Oil Stock data later today. EURUSD trading at 1.0814 while USDCAD was trading at 1.3492 Federal Reserve Chair Janet Yellen is scheduled to speak this Thursday, and it will be interesting to see if she speaks about the Presidential Election result and what it means for the FED going forward.

I hope you all have a nice day.