04.11.16

Good morning,

Asian markets saw Foreign Investment numbers in and out of Japan on the rise. The Japanese Markit Services PMI figure for October was up on previous readings. USDJPY trading at 103.24 at time of writing. The Reserve Bank of Australia released their Monetary Policy Statement, and Retail Sales figures during the Asian session. Retail Sales figures were out higher than had been expected. AUDUSD trading at 0.7671 at time of writing.

In Europe this session Sterling weakness could be of further interest following the Court ruling in the UK that the Government must consult Parliament in order to invoke the Article 50 process to leave the European Union. Sterling gained ground rapidly following the court's decision being announced. EURGBP trading at 0.8900 at time of writing. Markit Services and Composite PMI data will be released today from Spain, Italy, France, Germany and the Euro Zone. Euro Zone Producer Price Index data for September will also be out today.

In the US today Non Farm Payrolls and Unemployment Rate data will be the main news asides from the US Election. Canada will announce Unemployment data at the same time as the US data is released, so volatility could be high in the USDCAD pair in particular. Trading at 1.3415 at time of writing, close to levels not seen since the first quarter of this year. The markets are tightening amid uncertainty as to which way the election is headed. It will be an interesting weekend regarding news releases towards either candidate, positive or negative, as at this late stage the undecideds could play a major part in the outcome.

I hope you all have a nice weekend.