Here are the most important things you need to know when you start trading today:
Oil stay on low prices
An oil barrel trading near a one-month low at $46.66 at 6:20 a.m. ET. Goldman Sachs analysts predicting a slide to the low-$40s if an OPEC deal to cut output fails to emerge. Gasoline futures in New York jumped the most in almost 8 years after an explosion shut down the largest fuel pipeline in the U.S. BP Plc saw its profits slide by 49% in the third-quarter. Shares in the oil-major fell in London trading. Royal Dutch Shell Plc's third-quarter profit came in a full $1 billion ahead of the average of analyst estimates, with the company's February acquisition of BG Group Plc boosting production.
Bank of England Governor will remain in his position
Bank of England Governor, Mark Carney, ending months of speculation and declared that he will remain at the head of the British central bank until June of 2019. The British Prime Minister, Theresa May, expected to start the official process of the U.K. leaving the European Union by the end of March next year, and that process expected to take a maximum of 2 years, the governor's new departure date will see him in position throughout the negotiations. The pound rallied after the announcement and was trading at $1.2249 at 6:08 a.m. ET. U.K.
BOJ keep policy unchanged, China data take higher
The Bank of Japan decide to keep its monetary policy unchanged while negotiating the projected timing for reaching its 2% inflation target to beyond the end of Haruhiko Kuroda’s term as governor. The yen was trading at 105 to the dollar at 6:20 a.m. ET, near a three-month low.
In China, an official manufacturing purchasing managers index rose in October at the highest level since July 2014, to 51.2, while non-manufacturing PMI rose to 54. Also in China, trading in credit default swaps began yesterday on the nation's interbank market as the country faces mounting bond failures.
Markets inch higher
Overnight, the MSCI Asia Pacific Index added 0.3 percent while Japan's Topix index closed the session broadly unchanged. In Europe, the Stoxx 600 was 0.2 percent higher at 6:17 a.m. ET with Standard Chartered Plc dropping 5.5 percent following disappointing earnings. S&P 500 futures advanced 0.2 percent.
One week to US election
The U.S. presidential electionwill take place this day next week . Last week's revelation that the Federal Bureau of Investigation is reopening its inquiry into Hillary Clinton's use of private e-mail has put the election back to the top of currency traders' list of worries, as polls that had shown the Democratic nominee with a commanding lead start to tighten. The two leading candidates have drawn up plans for a post-vote battle in case there are opportunities to challenge results in decisive states. Keep up with all the final week developments at Bloomberg Politics.