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Barry Norman

Analysis and Recommendations:

The EUR/JPY dipped 7 points to 132.67 as the euro eased after comments from Mario Draghi.  The euro stayed weak versus both the dollar and the yen after falling the previous day as European Central Bank President Mario Draghi reiterated the central bank’s readiness to expand monetary easing in December, dealers said.

Major Japanese automakers shattered their own records for new car sales in October in the United States lifted by low fuel prices and low interest rates while benefiting from an extra selling day in the month, data released by Autodata Corp. showed Tuesday.

“October was a huge month for the industry, smashing expectations and continuing its hot streak,” Toyota group Vice President Bill Fay said in a press release.

Overall sales totaled 1,455,516 cars and light trucks in October, 13.6 percent more than the year before. The total translates to 18.24 million units in seasonally adjusted annualized sales, according to the U.S. research company.

Among Japanese automakers, Toyota Motor Corp. posted a 13 percent increase in the month, selling 204,045 vehicles, making it the third-largest automaker in the country. It was the first year Toyota sold more than 200,000 vehicles in October.

Toyota said both its namesake division and Lexus luxury brand broke October records, boosted by strong sales increases, 18.8 percent and 33.9 percent, respectively, of its sport utility vehicles and light trucks.

FxEmpire provides in-depth analysis for each currency and commodity we review. Fundamental analysis is provided in three components. We provide a detailed monthly analysis and forecast at the beginning of each month. Then we provide more recent analysis and information in our  weekly reports and we provide daily updates and outlooks.

Today’s economic releases:

Cur.

 

Event

Actual

Forecast

Previous

 

  USD

 

API Weekly Crude Oil Stock

2.800M

 

4.100M

 

 

  NZD

 

Employment Change (QoQ) (Q3)

-0.4%

0.4%

0.3%

 

 

  NZD

 

Unemployment Rate (Q3)

6.0%

6.0%

5.9%

 

 

  AUD

 

Retail Sales (MoM) (Sep)

0.4%

0.4%

0.4%

 

 

  AUD

 

Trade Balance (Sep)

-2.317B

-3.000B

-2.711B

   

  CNY

 

Caixin Services PMI (Oct)

52.0

50.8

50.5

   

 

Upcoming Economic Events that you should be monitoring:

Wednesday, November 4, 2015

Cur.

 

Event

Actual

Forecast

Previous

 

  AUD

 

RBA Governor Stevens Speaks  

 

 

 

 

 

  JPY

 

Monetary Policy Meeting Minutes

 

 

 

 

 

  USD

 

FOMC Member Stanley Fischer 

 

 

 

 

 

  EUR

 

German Factory Orders (MoM) (Sep)

 

1.0%

-1.8%

 

 

  EUR

 

ECB Economic Bulletin  

 

 

 

 

 

  EUR

 

Retail Sales (MoM) (Sep)

 

0.2%

0.0%

 

 

  EUR

 

ECB President Draghi Speaks  

 

 

 

 

 

  GBP

 

Interest Rate Decision (Nov)

 

0.50%

0.50%

 

 

  GBP

 

BoE MPC Meeting Minutes

 

 

 

 

 

  GBP

 

BoE Gov Carney Speaks  

 

 

 

 

 

  USD

 

FOMC Member Dudley Speaks  

 

 

 

 

 

  USD

 

Initial Jobless Claims

 

262K

260K

 

 

  USD

 

Unit Labor Costs (QoQ) (Q3)  

 

2.3%

-1.4%

 

 

  USD

 

FOMC Member Stanley Fischer 

 

 

 

 

 

  USD

 

FOMC Member Lockhart Speaks 

 

 

 

   

Government Bond Auctions

Date Time Country

Nov 03 10:10 Austria Holds RAGB bond sale

Nov 04 15:30 Sweden Announces details of Bond on 11 Nov

Nov 04 N/A Holland Announces details of Bond on 10 Nov

Nov 05 09:30 Spain Auctions Bonos

Nov 05 09:50 France Auctions OATs

Nov 05 10:03 Sweden Holds I/L bond auction

Nov 09 12:00 Norway Details bond auction on 11 Nov

Nov 09 15:30 Italy Announces details of BTPs/CCTeu on 12 Nov

Nov 09 N/A US Holds 3-year note auction

Nov 10 10:30 UK 0.125% 2058 I/L Gilt auction

Nov 10 N/A Holland Eur 2.0-3.0bn 0% Apr 2018 DSL

Nov 10 N/A US Holds 10-year note auction

Nov 11 10:03 Sweden Holds bond auction

Nov 11 11:15 Norway Holds bond auction

Nov 11 10:30 Germany Eur 3bn 0.25% Oct 2020 Bobl

Nov 12 10:10 Italy Auctions BTPs/CCTeus

Nov 12 10:30 UK 4.25% 2039 Gilt auction

Nov 12 N/A US Holds 30-year bond auction

 

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