Clinton edges first live Presidential debate
- JPY BOJ Gov Kuroda Speaks
- EUR German Ifo Business Climate: 109.5
- USD New Home Sales: 609K
- EUR ECB President Draghi Speaks
Late last night we saw the first live debate between the two US Presidential candidates; Donald Trump and Hilary Clinton. Before the live debate, polls suggested that Republican Donald Trump and his rival Hilary Clinton were locked in a dead heat, and with so many voters undecided, this added to the tension for the first head to head debate. After the two candidates clashed over terrorism, race and jobs, the attacks turned personal, with Trump accusing Hilary Clinton of not having the right temperament to be US president. Clinton fired back by pointing out that Donald Trump refuses to release his tax returns. This prompted Trump to say that once his routine audit was finished, he would release these findings but only if his opponent would release the 33,000 emails that were deleted during the investigation into her private emails. Hilary Clinton was seen to have edged this first debate by 62% but as we get closer to the 8th November, there is no doubt that more drama will unfold, to try and sway voters.
Yesterday’s economic docket was relatively light. However, we gained a key piece of data from the Eurozone powerhouse Germany in the morning and gained a small insight into the US housing market in the afternoon. Firstly, German Ifo Business Climate exceeded expectations, posting a 109.5 reading, its best figure since June 2014. The bullish reading has helped stabilize the Euro after the news that Angela Merkel will rule out any assistance for Deutsche bank and will not be helping with any of the legal problems the bank is having in the US. Across the pond, US data also exceeded economists’ consensus, with New Home Sales registering at 609k.
- EUR M3 Money Supply y/y
- USD CB Consumer Confidence
- USD FOMC Member Fischer Speaks
- AUD RBA Assist Gov Edey Speaks
There is no high tier data set for release today, with the only notable news coming in the form of US Services PMI. Services are due to register at 51.1, in line with the last figure. Consumer Confidence will be watched by markets as this accounts for the majority of the US economic activity, and a fall below the forecasted 98.6 could see the Greenback weaken.