21.11.14

Good morning,

Japanese Prime Minister Shinzo Abe dissolved parliament's lower house, with an election expected mid-December. The Japanese Finance Minister, Aso, has said the yen has been weakening too rapidly. These comments have led to the JPY strengthening against most pairs with USDJPY trading at 117.357 at time of writing. GOLD was trading at 1196USD per ounce during the Asian session today.

The NIKKEI was trading at 17357.51 up 56.65 points or 0.33%

In Europe this morning, European Central Bank President Mario Draghi is scheduled to speak. Italian wage inflation data for October is also penciled in, but this is of minor importance. Hungarian Gross Wages rose by 2.4%, from 2.2% previously. One Euro will buy 304.40 Hungarian Forints. EURCHF trading at 1.2019 British Public Sector Net Borrowing figures will round off the European data for the session.

The FTSE100 closed at 6678.90 down 17.70 points or minus 0.26% while the DAX closed at 9483.97 up 11.17 points or 0.12% following yesterday’s session.

Across the Atlantic we await the Canadian Consumer Price Index data, which is expected to increase slightly year on year. Any deviation from the slight expected increase could cause some volatility in Loonie pairs. USDCAD trading at 1.1310 US markets will only have the November Kansas FED manufacturing activity index on their calendar today, which is expected to read 5, up from 3 previously. EURUSD trading at 1.2541 at the time of writing.

The DOW closed at 17719.00 after gaining 33.27 points or 0.19% from the previous close.

Hope you all have a nice weekend.