18.11.14

Good morning,

The Reserve Bank of Australia released their meeting minutes. The RBA had left the cash rate unchanged at the meeting. RBA Governor Glenn Stevens speaks at CEDA annual dinner in Melbourne this session. AUDUSD trading at 0.8730 Looking ahead to the next 24 hours the Bank of Japan will be closely watched at their press conference following the Interest Rate decision. Japan slipped into recession this week with a GDP result which surprised the forecasters. USDJPY trading at 116.58

The NIKKEI was trading at 17344.06 up 370.26 points for an increase of 2.18%

Today in Europe the focus will mainly be on Great Britain where Consumer Price Index data will be released, along with Producer Price and Retail Price indices. Following the British release the Euro Zone and Germany will announce the ZEW Survey of Economic Sentiment for November. EURGBP trading at 0.7972 Tomorrow we will see the Bank of England’s meeting minutes.

The FTSE100 closed at 6671.97 up 17.60 points, while the DAX closed at 9306.35 after gaining 53.41 points or 0.58% yesterday.

Across the Atlantic today we will see the United States Producer Price Index figures, and the Redbook Index following. The NAHB Housing Market Index for November is expected to come out at 55 from 54 previously. EURUSD trading at 1.2483 at the time of writing. Looking ahead to tomorrow’s session the main story will be the FOMC meeting minutes. USOIL contracts will expire today with the commodity trading at $75.55 per barrel.

The DOW closed at 17647.75 yesterday.

Hope you all have a good day.