Morning Update – 08/11/2016 – by Arjun Lakhanpal

Morning all.. Wall St had a very strong close after Clinton was seen pulling slightly ahead in the polls and S&P closed up an impressive 2.22%. However Asia had more of a mixed session so close to the election result with the Nikkei closing around unchanged on the session. USDJPY held steady as US yields didn’t budge and oil was quiet overnight. AUD broke higher in NY and broke out of chart resistance at .7720 but has fallen back as China data showed poor import and export data. The risk on move rather dented by that but of course the US election result is now dominating all else. Early voting data favours the Democrats in the states that might provide the marginal electoral votes to the winner, Nevada and Colorado. This is likely to continue with few wanting to take additional risk so looks like being a quiet one unless any surprises from late polls. Most now waiting for exit polls after NY close tonight. This morning we get Swedish Household consumption and UK Industrial Production.. Good luck..