01.09.14

Good morning,

Markets in the US and Canada remain closed today for Labour Day, which leaves Asian and European markets in line for higher volumes today. Starting the Asian session it was announced that Japanese Capital Spending was up by 3.0% for the second quarter, below expectations and down from 7.4% previously. USDJPY was trading at 104.12 at time of writing. The Reserve Bank of Australia will announce the interest rate decision in the next 24 hours.

The NIKKEI was trading at 15476.60 up 52.01 points, an increase of 0.34%

European markets today will get Markit Manufacturing PMI data from Italy, France, Germany, Greece and the Euro Zone area as a whole this session before the UK PMI data. Mortgage Approvals figures are due in the UK as the house prices there continue to increase, or will there be an indication of a slowdown? Later this week we will see important interest rate decisions from both the Bank of England and the European Central Bank on Thursday. Both are expected to remain unchanged, although any change could leave traders scrambling to adjust their positions.

The FTSE100 closed last week at 6819.75 while the DAX finished at 9470.17

USOIL is trading at $95.60 with GOLD trading for $1288 per ounce at time of writing. Canada will release some important data this week, including their Interest Rate decision on Wednesday, which is expected to remain unchanged at 1.0% and their revised Unemployment Rate out on Friday, as is the United States Unemployment figure, expected at 7.0% and 6.1% respectively. USDCAD was trading at 1.0864 at time of writing. CABLE recovered somewhat this session with price action currently in the 1.6625 region.

The DOW closed at 17098.45 on Friday.

Hope you all have a good week.