(raw materials / closing price /% change)

Light Crude 77.19 -0.27%

Gold 1,151.30 a-0.73%

(index / closing price / change items /% change)

Nikkei 225 16,780.53 -0.59%

Hang Seng 23,744.7 +194.46 +0.83%

Shanghai Composite 2,473.67 +55.50 +2.30%

FTSE 100 6,611.25 +44.01 +0.67%

CAC 40 4,222.82 +32.93 +0.79%

Xetra DAX 9,351.87 +60.04 +0.65%

S&P 500 2,038.26 +6.34 +0.31%

NASDAQ Composite 4,651.62 +19.08 +0.41%

Dow Jones 17,613.74 +39.81 +0.23%

(pare/closed(GMT +2)/change, %)

EUR/USD $1,2420 -0,26%

GBP/USD $1,5841 -0,20%

USD/CHF Chf0,9679 +0,19%

USD/JPY Y114,85 +0,23%

EUR/JPY Y142,63 -0,06%

GBP/JPY Y181,92 +0,01%

AUD/USD $0,8621 -0,13%

NZD/USD $0,7747 0,00%

USD/CAD C$ 1,1379 + 0,42%

(time / country / index / period / previous value / forecast)

00:01 United Kingdom BRC Retail Sales Monitor y/y October -2.1%

00:30 Australia National Australia Bank's Business Confidence October 5

00:30 Australia House Price Index (QoQ) Quarter III -1.8% -1.6%

00:30 Australia House Price Index (YoY) Quarter III +10.1%

02:00 China New Loans October 857 615

05:00 Japan Consumer Confidence October 39.9 40.6

06:00 Japan Eco Watchers Survey: Current October 47.4 49.2

06:00 Japan Eco Watchers Survey: Outlook October 48.7

06:00 Japan Prelim Machine Tool Orders, y/y October +34.7% Revised From +34.8%

20:00 New Zealand RBNZ Financial Stability Report

20:05 New Zealand RBNZ Governor Graeme Wheeler Speaks

23:30 Australia Westpac Consumer Confidence November +0.9%

23:50 Japan Tertiary Industry Index September -0.1% +0.9%

Stock indices closed higher as investors weighed corporate earnings reports.

The European Central Bank (ECB) slowed purchases of covered bonds in the week ending November 7, 2014. The European Central Bank increased by 2.629 billion euros its amount of covered bonds in the week ending November 7, 2014. The ECB held covered bonds in the value of 7.408 billion euros on Monday. The central bank bought 3.075 billion euros in the second week and 1.704 billion euros in the first week as the central bank started its covered bond-buying programme.

Eurozone's Sentix investor confidence index increased to -11.9 in November from -13.7 in October, missing expectations for a rise to -6.9.

Carlsberg A/S shares were up 3.1% after reporting the better-than-estimated third-quarter profit.

Indexes on the close:

Name Price Change Change %

FTSE 100 6,611.25 +44.01 +0.67%

DAX 9,351.87 +60.04 +0.65%

CAC 40 4,222.82 +32.93 +0.79%

Brent crude rose for a second day on speculation stronger economic growth in China will boost demand from the world's second-biggest oil consumer. West Texas Intermediate slipped in New York.

Futures approached $85 a barrel in London before paring gains. Chinese exports rose more than expected in October, data from the customs administration showed on Nov. 8. The country's crude-oil imports jumped 9.2 percent last month from a year earlier. Crude also gained on escalating tensions in Ukraine. WTI widened its discount to Brent as the dollar strengthened.

"Some of the Chinese numbers have gotten a little bit better," said Bill O'Grady, chief market strategist at Confluence Investment Management in St. Louis, which oversees $2.4 billion. "The increased shelling in Ukraine is probably having a little bit of an impact."

Brent for December settlement rose 46 cents, or 0.6 percent, to $83.85 a barrel at 10:15 a.m. New York time on the London-based ICE Futures Europe exchange after earlier climbing to $84.97. Prices slid for a seventh week through Nov. 7, the longest weekly retreat since 2001. The volume of all futures traded was 1 percent below the 100-day average for the time of day.

WTI for December delivery slipped 14 cents to $78.51 a barrel on the New York Mercantile Exchange. Volume was 24 percent above the 100-day average. WTI's discount to Brent widened to $5.27 on the ICE from $4.74 on Nov. 7.

The U.S. dollar traded higher against the most major currencies in the absence of any major economic reports from the U.S.

The greenback came under pressure on Friday after the mixed labour market data from the U.S. The U.S. economy added 214,000 jobs in October, missing expectations for a rise of 229,000 jobs, after a gain of 256,000 jobs in September.

The U.S. unemployment rate declined to 5.8% in October from 5.9% in September. Analysts had expected the unemployment rate to remain unchanged.

The euro declined against the U.S. dollar as the European Central Bank (ECB) slowed purchases of covered bonds in the week ending November 7, 2014. The European Central Bank increased by 2.629 billion euros its amount of covered bonds in the week ending November 7, 2014. The ECB held covered bonds in the value of 7.408 billion euros on Monday. The central bank bought 3.075 billion euros in the second week and 1.704 billion euros in the first week as the central bank started its covered bond-buying programme.

Eurozone's Sentix investor confidence index increased to -11.9 in November from -13.7 in October, missing expectations for a rise to -6.9.

A reading above 0.0 indicates optimism, below 0.0 indicates pessimism.

The British pound traded lower against the U.S. dollar in the absence of any major reports from the U.K.

The Canadian dollar traded lower against the U.S. dollar after the weaker-than-expected Canadian housing starts. Housing starts in Canada increased to a seasonally adjusted annualized rate of 183,604 units in October from 197,355 units in September. September's figure was revised up from 197,343 units. Analysts had expected an increase to 200,000 units.

The New Zealand dollar traded lower against the U.S. dollar in the absence of any major economic reports from New Zealand. In the overnight trading session, the kiwi traded higher against due to profit-taking on the greenback.

The Australian dollar fell against the U.S. dollar. In the overnight trading session, the Aussie traded higher against due to profit-taking on the U.S. dollar.

Home loans in Australia decreased 0.7% in September, missing expectations for a 0.3% fall, after a 0.9% drop in August.

The Japanese yen was down against the U.S. dollar in the absence of any major economic reports from Japan.

Gold prices retreated from highs reached on Friday against the weakening of the dollar after a report on US employment.

US Department of Labor announced that in October was created 214,000 jobs, while the expected creation of 229 000 jobs. The US unemployment rate fell to a fresh six-year low of 5.8% from 5.9% in September.

These have forced investors to get rid of the dollar to lock in profits after a recent rally, but did not affect the expectations that the Federal Reserve will raise interest rates earlier than other major central banks.

Fed recently completed its monthly bond purchase program and is expected to raise interest rates now in 2015, although the next possible time lifting borrowing costs remain unclear because of the ambiguity of US data.

Expectations of growth rates on loans are putting pressure on gold as a precious metal hardly competes with the yield of interest-earning assets at higher rates.

American statistics today did not go and investors analyzed Chinese data. Official trade data released over the weekend showed that Chinese copper imports rose in October by 2.6% for the month, to 400,000 metric tons. It was the second consecutive monthly increase and the highest since April.

China's trade surplus widened last month to $ 45.4 billion from $ 31.0 billion in September, while the expected surplus of $ 42.0 billion.

In October, China's exports grew by 11.6% year on year, beating expectations for an increase of 10.6%, while imports rose by 4.6%, although the predicted growth of 5.5%.

Trade data came out before a government report released Monday, said that Chinese inflation in October remained near five-year low of 1.6%, unchanged from September and in line with expectations. Producer price index in October fell more than expected, by 2.2% in annual terms.

The cost of December gold futures on the COMEX today dropped to 1161.00 dollars per ounce.

The European Central Bank (ECB) increased by 2.629 billion euros its amount of covered bonds in the week ending November 7, 2014. The ECB held covered bonds in the value of 7.408 billion euros on Monday. The central bank bought 3.075 billion euros in the second week and 1.704 billion euros in the first week as the central bank started its covered bond-buying programme.

The ECB has not yet begun to purchase asset-backed securities (ABS).

The ECB's asset-buying programme is determined to provide more liquidity into the financial system and to expand its balance sheet. The central bank hopes to boost inflation in the Eurozone toward its 2% target.

The Swiss franc hits 2-year-high against the euro on Monday. The currency pair EURCHF was testing 1.20 franc ceiling set by the Swiss National Bank (SNB). The SNB could intervene if the EURCHF would decline further.

The volatility of EURCHF is higher now ahead of Switzerland's referendum in on November 30. Population in Switzerland will vote whether the SNB should keep at least 20% of its assets in gold, up from 8% now. Switzerland's central bank would need to foreign reserves to reach this target.

U.S. stock futures were little changed as investors watched corporate results and speculated the economy is strong enough to withstand a global slowdown.

Global markets:

Nikkei 16,780.53 -99.85 -0.59%

Hang Seng 23,744.7 +194.46 +0.83%

Shanghai Composite 2,473.18 +55.01 +2.27%

FTSE 6,596.09 +28.85 +0.44%

CAC 4,197.53 +7.64 +0.18%

DAX 9,304.99 +13.16 +0.14%

Crude oil $79.40 (+0.93%)

Gold $1167.20 (-0.22%)

(company / ticker / price / change, % / volume)

The Canada Mortgage and Housing Corporation (CMHC) released its housing starts figures for Canada on Monday. Housing starts in Canada increased to a seasonally adjusted annualized rate of 183,604 units in October from 197,355 units in September. September's figure was revised up from 197,343 units. Analysts had expected an increase to 200,000 units.

The CMHC's Chief Economist Bob Dugan said that the decrease was driven by the decline of starts of multi-unit dwellings, including condominiums.

Multiple housing starts decreased to 98,673 units in October from 114,539 units in September.

Single-detached housing starts rose to 66,010 in October from 62,514 in September.

EUR/USD: $1.2300(E1.7bn), $1.2350(E506mn), $1.2400(E1.2bn), $1.2500(E2.2bn), $1.2550(E3.1bn)

USD/JPY: Y113.00($867mn), Y113.70-80($500mn), Y115.00($1.5bn)

USD/CHF: Chf0.9650($1.0bn)

AUD/USD: $0.8500(A$500mn), $0.8600(A$1.2bn), $0.8650(A$1.3bn)

NZD/USD: $0.7600(NZ$334mn)

USD/CAD: C$1.1200($340mn), C$1.1305($720mn), C$1.1400($265mn)

Upgrades:

Downgrades:

Other:

Walt Disney (DIS) reiterated at Outperform at RBC Capital Mkts, target raised from $92 to $96

EUR/USD

Offers $1.2600, $1.2580, $1.2550, $1.2500

Bids $1.2360/50, $1.2300, $1.2250

GBP/USD

Offers $1.6000, $1.5950/60, $1.5935

Bids $1.5800, $1.5785, $1.5700

AUD/USD

Offers $0.8800, $0.8760, $0.8750, $0.8700

Bids $0.8600, $0.8520, $0.8500, 0.8450

EUR/JPY

Offers Y144.50, Y144.00, Y143.60, Y143.10

Bids Y141.55/50, Y141.00, Y140.50

USD/JPY

Offers Y116.50, Y116.00, Y115.55

Bids Y113.00, Y112.60, Y112.00

EUR/GBP

Offers stg0.7900, stg0.7885, stg0.7860

Bids stg0.7795, stg0.7755/45, stg0.7700

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual)

00:30Australia Home Loans September -0.9% -0.3% -0.7%

01:30China PPI y/y October -1.8% -1.9% -2.2%

01:30China CPI y/y October +1.6% +1.6% +1.6%

09:30Eurozone Sentix Investor Confidence November -13.7 -6.9 -11.9

The U.S. dollar traded mixed to lower against the most major currencies due to profit taking. The greenback came under pressure on Friday after the mixed labour market data from the U.S. The U.S. economy added 214,000 jobs in October, missing expectations for a rise of 229,000 jobs, after a gain of 256,000 jobs in September.

The U.S. unemployment rate declined to 5.8% in October from 5.9% in September. Analysts had expected the unemployment rate to remain unchanged.

There will be released no major economic reports in the U.S.

The euro traded higher against the U.S. dollar after the weaker-than-expected Sentix investor confidence index for the Eurozone. Eurozone's Sentix investor confidence index increased to -11.9 in November from -13.7 in October, missing expectations for a rise to -6.9.

A reading above 0.0 indicates optimism, below 0.0 indicates pessimism.

The British pound traded mixed against the U.S. dollar in the absence of any major reports from the U.K.

The Canadian dollar traded higher against the U.S. dollar ahead of the Canadian housing starts. Housing starts in Canada are expected to rise by 200,000 units in October, after 197,000 units in September.

EUR/USD: the currency pair rose to $1.2508

GBP/USD: the currency pair traded mixed

USD/JPY: the currency pair traded mixed

The most important news that are expected (GMT0):

13:15 Canada Housing Starts October 197 200

European stock indices are trading higher amid good corporate earnings reports and last week's ECB announcements that measures will have an "sizeable impact". UK's FTSE 100 index is up 0.34% currently trading at 6,589.70 points. Germany's DAX 30 gained 0.16% at 9,306.86 points and France's CAC 40 gained 10.70 points, a plus of 0.26% currently trading at 4,20.59 points.

About three quarters of European companies have reported results so far this earnings season, of which 60 percent have met or beaten profit forecasts, according to Thomson Reuters.

Oil prices rose in today's trading. Brent Crude, after a seven-week price drop, is currently trading +1.62% at USD84.74, WTI Crude +1.34% trading higher at USD79.70 after positive employment data from the U.S. and China's exports exceeding forecasts and crude imports rose significantly. The U.S. and China are the world's two leading oil consuming nations. But oil still is under pressure as global demand remains low and there is no indication OPEC will cut output to support oil prices.

Libya's two biggest oil fields are scheduled resuming output today after they were seized by gunmen last week.

Gold, currently trading at USD1171.00 declined today after Friday's biggest gains in more than a four months period after U.S. nonfarm payrolls increased to 214,000 in October but not being in line with forecasts (231,000) putting pressure on the greenback. Last week gold was trading at 4 ½ year lows caused by the strong U.S. dollar and investors' fears the FED could increase interest rates. A strong U.S. dollar, bullish equity markets and an improving U.S. economy still weigh heavy on gold.

GOLD currently trading lower at USD1171.00 after Friday's rally

EUR/USD: $1.2300(E1.7bn), $1.2350(E506mn), $1.2400(E1.2bn), $1.2500(E2.2bn), $1.2550(E3.1bn)

USD/JPY: Y113.00($867mn), Y113.70-80($500mn), Y115.00($1.5bn)

USD/CHF: Chf0.9650($1.0bn)

AUD/USD: $0.8500(A$500mn), $0.8600(A$1.2bn), $0.8650(A$1.3bn)

NZD/USD: $0.7600(NZ$334mn)

USD/CAD: C$1.1200($340mn), C$1.1305($720mn), C$1.1400($265mn)

The Russian ruble continues to strengthen, currently trading at USD45.0837 as the oil prices climbed and President Vladimir Putin said the currency's weakening will end soon and measures will be taken if necessary although Russia's central bank cuts it outlook for economic growth for 2015.

REUTERS

Bank of Russia Cuts 2015 Economic Forecast to Show No Growth

Russia's central bank cut its base-case economic forecast for next year to show no growth, assuming sanctions remain in place and oil averages $95 a barrel.

The regulator also pushed back its medium-term inflation target of 4 percent to 2017 from 2016, according to a revised monetary policy plan for 2015-17 released today. The base-case scenario sees sanctions lasting through the end of 2017.

Source: http://www.bloomberg.com/news/2014-11-10/bank-of-russia-cuts-2015-economic-forecast-to-show-no-growth.html

REUTERS

Russian central bank abandons rouble trading band, floats rouble

The Russian central bank said on Monday it had abandoned the rouble's trading corridor, allowing the currency to float freely.

The bank also said in a statement it would intervene in the foreign currency market if it saw a threat to financial stability. (Reporting by Lidia Kelly and Elena Fabrichnaya; Writing by Lidia Kelly, editing by Elizabeth Piper)

Source: http://www.reuters.com/article/2014/11/10/russia-cenbank-rouble-idUSL6N0T01MK20141110

BLOOMBERG

Gold Bulls Accelerate Retreat to This Year's Fastest Pace

Hedge funds made their biggest cut of the year in bullish gold wagers as prices tumbled to the lowest since 2010.

The net-long position in New York futures and options contracted 36 percent as long holdings fell the most in almost two years, U.S. government data show. Investors sold 22.4 metric tons of bullion held through exchange-traded products last week, trimming assets to the least since August 2009.

Source: http://www.bloomberg.com/news/2014-11-09/gold-bulls-accelerate-retreat-to-this-year-s-fastest-pace.html

REUTERS

Dollar lower, franc within sight of SNB ceiling vs euro

The dollar made a poor start to the week on Monday, with some investors still seeing Friday's weaker than expected U.S. jobs numbers as an excuse to pause after three strong weeks of gains.

The Swiss franc EURCHF= was back on the verge of the central bank's 1.20 franc ceiling versus the euro after another week that highlighted the euro zone's problems.

Source: http://www.reuters.com/article/2014/11/10/us-markets-forex-idUSKCN0IT0Y320141110

European stock indices are trading higher at the start after last week's losses helped by ECB President Mario Draghi's announcement from last week that the ECB would soon begin purchasing asset-backed securities to help the economy grow and good corporate results. Eurozone's Sentix Investor Confidence will be published at 09:30 GMT. UK's FTSE 100 index is up 0.48% trading at 6598.55 points, Germany's DAX 30 is currently up 0.16% currently trading at 9,306.68 points and France's CAC 40 with a plus of 0.60% trading at 4,217.13 points.

The DOW Jones and S&P 500 continued to rise in Friday's trading session. The DOW Jones was up +0.11% closing at 17,573.47 points, the S&P500 +0.03% closing at 2,031.92 after solid but weaker-than-predicted U.S. nonfarm payrolls and a weaker unemployment rate showing a recovery of the world's leading economy.

Hong Kong's Hang Seng is up 0.65% at 23,703.72, China's Shanghai Composite gained 2.27% closing at 2,473.18. Regulators announced that the long-awaited pilot cross-border investment between the Shanghai and Hong Kong stock markets will launch on November 17. China's annual consumer inflation remained close to a five-year low of 1.6% in October, the producer price index declined to a lower-than-expected 2.2% in October.

Japan's Nikkei closed weaker with a loss of -0.59% at 16,780.53 points as the yen rebounded further from his new lows on profit-taking in the dollar following the U.S. payrolls data.

Economic calendar (GMT0):

(Time/ Region/ Event/ Period/ Previous/ Forecast/ Actual

00:30 Australia Home Loans September -0.9% -0.3% -0.7%

01:30 China PPI y/y October -1.8% -1.9% -2.2%

01:30 China CPI y/y October +1.6% +1.6% +1.6%

The greenback traded weaker against its major peers for the second day in a row after U.S. job data (nonfarm payrolls 214,000; forecast 231,000) fell short of expectations although overall unemployment rate dropped from 5.9% to 5.8%, a new six-year low. Investors might be taking profits after the strong rally and reduce their bets on the FED rising interest rates earlier than expected.

The Australian dollar further recovered from his four-year low from last Friday when Australian central bank forecasts showed weak domestic growth. Gains were supported by data published that Chinas export growth did not slow down as much as predicted and China's annual consumer inflation staying near five-year lows.

Those figures also helped the kiwi recovering from its two-year low. Investors are awaiting Reserve Bank governor Wheeler releasing the bank's half-yearly financial stability report on Wednesday and his statements over the strength of the currency.

The Japanese yen currently trading at USD114.16 further recovered from its new record-low of USD115.51 after the BoJ's economic stimulus from last week and a four month rally of the U.S. dollar.

EUR/USD: the currency pair raised to USD1.2471

USD/JPY: the U.S. dollar lost against the Japanese yen and is currently trading at Y114.17

GPB/USD: the currency pair rose to GPB 1.5900

The most important news that are expected (GMT0):

09:30 Eurozone Sentix Investor Confidence November -13.7 -6.9

13:15 Canada Housing Starts October 197 200

23:50 Japan Current Account (adjusted), bln September 130.8 3.0

EUR / USD

Resistance levels (open interest**, contracts)

$1.2648 (3084)

$1.2584 (3244)

$1.2535 (659)

Price at time of writing this review: $ 1.2476

Support levels (open interest**, contracts):

$1.2396 (3888)

$1.2360 (6444)

$1.2308 (4977)

Comments:

- Overall open interest on the CALL options with the expiration date December, 5 is 95717 contracts, with the maximum number of contracts with strike pric $1,2800 (5232);

- Overall open interest on the PUT options with the expiration date December, 5 is 103638 contracts, with the maximum number of contracts with strike price $1,2200 (6884);

- The ratio of PUT/CALL was 1.08 versus 0.96 from the previous trading day according to data from November, 7

GBP/USD

Resistance levels (open interest**, contracts)

$1.6202 (1345)

$1.6103 (902)

$1.6006 (1900)

Price at time of writing this review: $1.5904

Support levels (open interest**, contracts):

$1.5791 (879)

$1.5694 (1104)

$1.5596 (811)

Comments:

- Overall open interest on the CALL options with the expiration date December, 5 is 33837 contracts, with the maximum number of contracts with strike price $1,6000 (1900);

- Overall open interest on the PUT options with the expiration date December, 5 is 35856 contracts, with the maximum number of contracts with strike price $1,6000 (2082);

- The ratio of PUT/CALL was 1.06 versus 1.22 from the previous trading day according to data from November, 7

* - The Chicago Mercantile Exchange bulletin (CME) is used for the calculation.

** - Open interest takes into account the total number of option contracts that are open at the moment.