EU Morning Report - Euro, hurricane Sandy and BoJ #2

The euro (EUR) is strengthening against most of its major counterparts, after it took a big hit following Bank of Japan (BoJ) policy announcement. The Japanese central bank decided to extend its asset purchases programme by 11 trillion yen. Even though this was the consensus figure, officials were calling for at least 20 trillion Japanese yen (JPY). Furthermore, the BoJ announced that it will make loans in yen and other currencies as part of a new programme. The troika report on Greece which has been anticipated for a while now is expected to be published on 12 November at the latest. Hurricane Sandy has been storming New York since yesterday and the US equities market will remain closed until further update. This means there is no trading on US 500 (SPI) or US Tech (NDQ) which track the US equities markets.

§ The Australian dollar (AUD), British pound (GBP) and Swiss franc (CHF) are advancing against the US dollar (USD), following the announcement by BoJ.

§ OIL is trading sideways above the 84.90 level which seems to be acting as a short-term support. A break below this level could pave the way for lower lows.

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