Previous Day's Market Highlights
The US public went to the polling stations yesterday which saw the start of the US Midterms. This was the first chance for US citizens to vote since the presidential election in 2016. The expectation was that the Republicans remained in control of the Senate, with the Democrats gaining the House of Representatives. As only 1/3 of the Senate seats and all of the House were heading to a vote. We saw the release of European services PMIs, with only Italy showing a decline in the industry. Late in the evening New Zealand was boosted by the decline in unemployment which dropped to it’s lowest level since August 2008.
|Currency Pairing||08:00 Today||Vs 08:00 Yesterday||Four-Week High||Four-Week Low||% Change|
Today's Market Highlights
The Democrats have been successful in claiming the House of Representatives, with the Republicans keeping control of the Senate. This means for the next two years President Trump and the Republicans will struggle to pass new laws which have to pass through both houses. Meaning the Democrats now have two years to set themselves up for a Presidential campaign. This will mean a much weaker dollar, as it will be seen as a stalemate between the two parties who have continued to grow apart since Trump’s successful election. There is minimal data releases today, with the Eurozone retail sales expecting to show growth for the first time in 3 months, and late this evening we have the Reserve Bank of New Zealand’s interest rate decision which is expecting to remain at 1.75%.
Today's Economic Calendar
|10:00||EUR||Retail Sales m/m||0.1%||-0.2%|
|20:00||NZD||RBNZ Official Cash Rate Decision||1.75%||1.75%|
|21:00||NZD||RBNZ Press Conference|