A Picture at What Has Happened in the Last 2 Hours - Forex News by FX Leaders

A Picture at What Has Happened in the Last 2 Hours

Posted Thursday, November 3, 2016 by
Skerdian Meta • 3 min read

We left off a couple of hours ago after the US after the latest round of US economic data, but that was not all for today. That´s wasn´t it for the US data either. The US ISM non-manufacturing PMI was released more than an hour ago and it missed the expectations, but at 54.8 it remains in a good position. Although I have to say that leaving aside the higher prices, all the components showed signs of weakness. Well, it´s been quite volatile all this year but the important thing is that it remains positive.

ISM non-manufacturing, volatile but positive nonetheless

15 minutes later, the US factory orders for September were released as well and in contrary, this was a positive report. The headline number was only slightly positive since the orders grew by 0.3% during that month against 0.2% expected. But if we leave the transportation out this report seems much better since the core orders grew by 0.6%. The USD is still under the influence of the presidential elections so no reaction from the US economic data today.

Meanwhile, the latest poll from CNN puts Donald trump ahead of Clinton in yet another state, in Nevada. According to this poll, Trump has overtaken Hillary and they now stand at 46% and 43% respectively. Trump has advanced considerably since the FBI reopened Clinton´s email case, but I´m baffled how some people can change their minds over an investigation.

Whatever there might be in those emails, there´s no way it can be as bad as what Trump has said and done so far, imagine him taking the presidential chair… Many people believe he will change the US constitution and make the US a dictatorship.

Getting back to the UK again, the Brexit minister Davis still believes that the Supreme Court will keep the Brexit process running because he made some fresh comments about the EU/UK negotiations. He said that the passporting rights for the UK financial firms will be at the center of the negotiations and that clearing is a very important part of this deal.

For those who don´t know what clearing means, it is the clearing of the securities which take place in London now that the UK is still part of the EU. It´s too funny that a few hours ago the French central bank head and ECB member Villeroy commented that it would be hard to imagine that clearing of the EU securities can take place outside of the EU when the UK turns away eventually.

OK, this is it for today from us guys. We´ll be back with you tomorrow morning with our updates, unless something really important happens. By the way, we haven´t been short of such events recently.

Meanwhile, the latest poll from CNN puts Donald trump ahead of Clinton in yet another state, in Nevada. According to this poll, Trump has overtaken Hillary and they now stand at 46% and 43% respectively. Trump has advanced considerably since the FBI reopened Clinton´s email case, but I´m baffled how some people can change their minds over an investigation.

Whatever there might be in those emails, there´s no way it can be as bad as what Trump has said and done so far, imagine him taking the presidential chair… Many people believe he will change the US constitution and make the US a dictatorship.

Getting back to the UK again, the Brexit minister Davis still believes that the Supreme Court will keep the Brexit process running because he made some fresh comments about the EU/UK negotiations. He said that the passporting rights for the UK financial firms will be at the center of the negotiations and that clearing is a very important part of this deal.

For those who don´t know what clearing means, it is the clearing of the securities which take place in London now that the UK is still part of the EU. It´s too funny that a few hours ago the French central bank head and ECB member Villeroy commented that it would be hard to imagine that clearing of the EU securities can take place outside of the EU when the UK turns away eventually.

OK, this is it for today from us guys. We´ll be back with you tomorrow morning with our updates unless something really important happens. By the way, we haven´t been short of such events recently.

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About the author

Skerdian Meta // Lead Analyst
Skerdian Meta Lead Analyst. Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
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