01.05.14

Good morning,

As Australia was announcing Producer Price Index figures, which rose by 0.7% year on year, Japan saw Labour Cash Earnings not quite meet expectations with 0.1% growth as opposed to the 0.4% expected. AUDJPY trading at 94.39 Chinese Manufacturing Purchasing Manager’s Index figures were also released last night, slightly beating expectations. The Reserve Bank of Australia Interest Rate decision coming next week. AUDUSD trading at 0.7888

The NIKKEI closed at 19531.63 up 11.62 points or 0.06%

The majority of European markets remain closed today for Labour Day. The UK however remains open for business and Markit Manufacturing PMI data, Net Lending and Mortgage Approval figures are due out this session. EURGBP trading at 0.7342 The Euro gaining ground this week, with EURUSD trading at 1.1249 the highest level since February.

Across the Atlantic today we will get the ISM Manufacturing Purchasing Manager’s Index for April figure along with the Royal Bank of Canada Manufacturing PMI also due this session with USDCAD trading at 1.2095 A relatively quiet end to the week, with more of the same next week, as there is no major data scheduled from North America next week. USOIL has broken above $60 per barrel for the first time this year, to the current $60.06 per barrel.

The DOW closed at 17840.52 down 195.01 points or minus 1.08%

Hope you all have a nice weekend.