US presidential elections keep on moving the market this week

What will move markets during the week, and which economic data will be most watched this week:

1. U.S. Presidential Election

The highly-anticipated U.S. Presidential Election will be held on Tuesday. The Congressional Elections for the Senate and the House of Representatives will also be held on the same day.

The first exit polls, which are a projection, are expected to come out on Tuesday night at around 7:00PM ET (00:00 GMT on Wednesday). Results will be declared state by state. If the outcome is clear, the television networks are expected to make their official call at 11:00PM ET (04:00 GMT Wednesday).

The last FBI statement was that there is now reason to set up charges against Hilary Clinton which is positive for the market sentiment, as this will support her lead over Trump. It is very likely that USD strengthens.

2. Investors will also keep close eye on oil prices, which dropped significantly during last week. On Wednesday we wait for the Oil inventories data from USA which will be published at 15:30 GMT.

3. China October Trade Data: China is to release October trade figures at around 02:00GMT on Tuesday (9:00PM ET Wednesday). The report is expected to show that the country’s trade surplus widened to $51.7 billion last month from $42.0 billion in September.

Additionally, on Wednesday, the Asian nation will publish data on October consumer and producer price inflation. The reports are expected to show that consumer prices rose 2.1% last month, while producer prices are forecast to increase by 0.8%.

4.September U.K. Manufacturing Production: The Office for National Statistics is to produce data on U.K. manufacturing production for September at 09:30GMT (4:30AM ET) on Tuesday, amid expectations for a gain of 0.4%. Industrial output is forecast to inch up 0.1%.

5. Reserve Bank of New Zealand Rate Review: The Reserve Bank of New Zealand’s monetary policy update is due at 20:00GMT (3:00PM ET) on Wednesday. Most market analysts expect the central bank to cut its benchmark interest rate by 25 basis points to a record-low 1.75% to help meet inflation forecasts.
RBNZ Governor Wheeler will also hold a press conference following the decision.

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