Today the new CEO of Americorp is to be announced. Either
the incumbent Barack Obama or Republican candidate Mitt Romney will be elected
the most powerful man in the world, as president of the United States of
America.

Yesterday in the prelude to America taking to the polls,
investors flooded into the dollar as they adopted safety. The greenback rose sharply
against many of its counterparts in early trading before consolidating its
gains later in the day.

Today the new CEO of Americorp is to be announced. Either
the incumbent Barack Obama or Republican candidate Mitt Romney will be elected
the most powerful man in the world, as president of the United States of
America.

Yesterday in the prelude to America taking to the polls,
investors flooded into the dollar as they adopted safety. The greenback rose sharply
against many of its counterparts in early trading before consolidating its
gains later in the day.

The riskier euro, hampered by problems in Greece,
contrastingly performed badly throughout the day. As Samaras’ split government
gear up for a vote on Wednesday, there is a lot of concern that no agreement
will be reached, plunging the economy into further uncertainty.

With more austerity a desideratum for a third tranche of
bailout funds, the coalition government is divided. The split saw the euro lose
ground against many of its peers and should this trend continue the weakness may
as well.

The pound, one of the few currencies not to capitalise on
euro weakness, remained very range bound against the shared currency. Poor services
PMI data in the UK dampened the previously positive outlook and according to
the press, the sombre sentiment will continue. Manufacturing production
released today will give the economy a chance to respond.

 

Today’s Key
Announcement:

• 03.30am – AUD – Cash Rate: kept at 3.25% causing AUD
  strength
• 08.15am – EUR – Spanish Services PMI: improved contraction
  at 41.2
• 08.45am – EUR – Italian Services PMI: expected at 44.5
• 09.30am – GBP – Manufacturing Production m/m: expected to
  return to growth at 0.3%
• Tentative – GBP – 10y Bond Auction
• 11.00am – EUR – German Factory Orders: edging closer towards
  growth at -0.3%
• All Day – USD – Presidential Election
• All Day – USD – Congressional Election