Japanese Prime Minister Shinzo Abe won a little over two thirds of the seats in the lower house in elections held over the weekend. The Prime Minister's coalition now has enough seats to put forward his economic stimulus policy and structural reforms despite obstruction from the upper house. The yen rose a few points against the greenback over the weekend, with investors taking profits after driving the JPY down to its lowest level since July 2007 last week.
In North America, most of today's news will come to us from south of the border. At 8:30 a.m., results of the Empire State Manufacturing Survey will be announced, with an expected increase to 12.0. Next, at 9:00 a.m., Canadian Existing Home Sales will be made public. Lastly at 9:15 a.m., U.S. Industrial Production numbers will come out, with pundits expecting an increase of +0.7%. Have a great Monday.
Xavier Villemaire
- Range of the day: 1.1520 - 1.1620