00:30 Australia Trade Balance (Sep) 1,46В
03:30 Japan BoJ's Governor Shirakawa Speech
08:55 Germany Purchasing Manager Index Services (Oct) 48,3
09:00 Е15 Purchasing Manager Index Services (Oct) 45,8
09:30 UK Manufacturing output (September) Y/Y -2,3%
09:30 UK Manufacturing output (September) -0,8%
09:30 UK Industrial production (September) Y/Y -2,2%
09:30 UK Industrial production (September) -0,2%
09:30 UK CIPS services index (October) 42,4
10:00 Е15 Retail sales (September) adjusted Y/Y -1,6%
10:00 Е15 Retail sales (September) adjusted -0,2%
The dollar gained against the euro on speculation Barack Obama's sweeping victory in the U.S. presidential election will help him push through policies needed to revive the world's biggest economy.
The currency also rose against the pound and the Australian dollar as Obama won at least 349 electoral votes, more than the 270 needed, and Democrats increased their majority in Congress. The euro lost more than 2 percent versus the yen after European Central Bank member Juergen Stark signaled support for interest- rate cuts to bolster the region's shrinking economy. The single European currency also dropped as regional stocks fell.
The yen also rose as stock-market losses in Europe made it less attractive to buy overseas assets using funds from Japan. The Dow Jones Stoxx 600 Index lost 2.2 percent and U.S. stock futures declined. Yesterday, U.S. shares posted their biggest presidential election-day rally in 24 years.
Gains in the dollar may be limited by speculation the U.S. economy lost jobs for the 10th consecutive month. Nonfarm payrolls shrank by 200,000 in October, according to a survey before the report on Nov. 7.
The 15-nation euro fell against the yen after Stark told the Financial Times Deutschland in an interview that ``we're ready to use all instruments at our disposal and the main instrument is interest-rate policy.''
The ECB will lower its main refinancing rate by a half- percentage point to 3.25 percent tomorrow, according to economists.
The yen's real effective exchange rate, a measure of the currency's value against those of Japan's trading partners after adjustments for price trends, rose 11.2 percent in October from the previous month, the biggest gain on record, Bank of Japan data showed today. The index was at 111.1, the
The pound also fell as an industry report showed services industries contracted in October, adding to evidence the economy is in a recession. The Bank of England will cut its main interest rate by a half-percentage point to 4 percent tomorrow, according to the median forecast of economists.
EUR/USD after the session low at a level $1,2792 has been established, the pair has raised in area $1,2980. The rate could not keep the achievements and later has decreased below a mark $1,2900.