Tuesday, 6 November 2012

Daily Morning Report 06/11/2012

The United Kingdom services activity increased at the slowest pace since a temporary decline in activity nearly two years ago according to forex news.
The UK economy expanded 1.0% in the third quarter following three quarters of decline. Employment in the services industry decreased for the second month in a row in October. Expansion of new orders slowed a bit during the month, but still remained solid.
The United States will go to the polls today in the big Election Day between two big contenders. Barack Obama leads with a small difference, and Mitt Romney, who three months ago had no chance to victory. Market is trading in coma right now waiting for results. The non-manufacturing PMI released by ISM fell from 55.1 to 54.2 in October, declining more than expected.
The Australian dollar jumped more than half a cent after the RBA announced it would leave official interest rates unchanged at 3.25 per cent. Despite the RBA didn't cut today, the monetary statement still retains a mild dovish rhetoric, suggesting that the easing campaign is not yet over. 

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