MORNING BRIEFING: The market is waiting for the Fed, BoE and ECB.

[RTFX-Trading]

MORNING BRIEFING: The market is waiting for the Fed, BoE and ECB.

What’s new:
US: Obama sees further job cuts to come.
Oil: crude oil ends sharply up 1.50% in NY.
US: the real estate and manufacturing sectors increase.
G20: exchange rates on the agenda.
Eurozone: rebound in manufacturing in October.
England: industrial activity at the highest for two years.

Today:


Rates in Asia and Indices:
EURUSD: 1.4811 - 1.4763.
USDCHF: 1.0226 - 1.0195.
EURUSD: 1.6421 - 1.6352.
EURJPY: 133.98 - 133.22.
USDJPY: 90.49 - 90.14.
Dow Jones: 9'789 +0.79%.
NASDAQ: 2'049 +0.20%.
S & P 500: 1,042 +0.65%.
Nikkei: Closed.
Shanghai: 3'105 +0.95%.
Gold: $1'064.40.
Crude oil: $78.23.
 
Comments:
The Dollar gained some ground against its major rivals, following the rise of manufacturing in October for the third consecutive month, as growth returned to its level three years ago. Construction spending and homes sales are also up in September. These figures reassure the markets before the 2 day meeting of the American Federal Reserve that starts today and ends tomorrow with an announcement at 20:15 CET with a status quo on interest rates is expected.

The Australian central bank raised for the second time in a few weeks its main interest rate by 25 basis points to 3.50%. The question investors are facing is which will be the next central bank to increase interest rates?? The meetings of the Fed, the BoE and the ECB this week should provide some clarity on the subject.

Good day.
 
Nicolas Longchamp
RTFX Ltd
Head Office
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