01.10.14

Good morning,

Aussie Dollar has reacted badly to the lower than expected Retail Sales figures which came out at 0.1% for the month of August when expectations had been that it would have remained at 0.4% the reading from July. AUDUSD fell to 0.8663 but recovered somewhat to trade at 0.8701 at time of writing. Chinese data overnight was slightly better than had been expected. The NBS Manufacturing PMI reading of 51.1 showed no change from the previous reading, although expectations had forecast a slight decline. Hong Kong protests are ongoing, where thousands are marching for democracy on the National Day holiday.

The NIKKEI was trading at 16082.25 down 91.27 points, or a drop of 0.56% off yesterday’s close.

European markets will see Markit Manufacturing PMI figures for Italy, France, Germany, Greece, the Euro zone and for Great Britain this session. EURUSD was trading at 1.2621 at time of writing, and we have to go back as far as September 2012 since the pair traded at this level. EURGBP is trading at 0.7787 Tomorrow’s European Central Bank Interest Rate decision will be the main event regards the common currency. Forecasts say an unchanged 0.05% will be the figure, but the analysts are not always correct.

The FTSE100 was trading at 6612.55 while the DAX closed yesterday’s session at 9474.30 gaining 51.39 points, or 0.55%

The US will see ISM Manufacturing PMI results this session, with forecasters predicting a reading of 58.5, down from 59.0 previously. USOIL is currently trading at $91.33 per barrel ahead of the Energy Information Administration’s Oil stocks change announcement this session. USDCAD was trading above 1.12 for the first time since March. Canadian RBC Manufacturing PMI results are announced today. GOLD is trading at $1207 per ounce at time of writing. Friday will see the Non-Farm Payrolls figures and the updated Unemployment Rate for September.

The DOW closed at 17042.90 down 28.32 points, a decline of 0.17% for the session.

Hope you all have a good day.