Factory Orders in the U.S increased for the 5th time in six months for September by 0.9% from a negative 0.8% previously, which is reinforcing signs that manufacturing will help drive the economic recovery.
A record plunge in stockpiles and a boost to exports, in part from more than $2 trillion in global stimulus, means companies will ramp up production.
The UK Halifax Housing Price Index recorded a better than expected result for the month of October by 1.2%, which is up on expectation of 0.8% and a previous of 1.5%
Yesterday we saw the RBA increase rates by 25 basis points which was expected. The Aussie reacted by declining from a strong 9090 level towards the 89 mark.
We can expect another rate rise in December of 25 basis points as the market has already priced this in.
Gold has reached all time highs of $1087 early this morning after charging $25 from yesterdays close. This is a sign investors are still keeping a close eye on the global economic recovery.
Today we are keeping an eye out for Building Approvals for the month of September. Analysts are expecting an increase of 2.4% from a negative 0.1%. This is a gauge of future construction activity because obtaining government approval is among the first steps in construction a new building.
Retail Sales for the month of September are out today and Analysts predict an increase of 0.5% from a previous increase of 0.9%. A lower percentage shows that consumer spending has decreased.