02.10.14

Good morning,

Australian Building Permits were out overnight, and the print was better than had been expected. AUDUSD has been trading higher since with a current price of 0.8783 Japanese Yen saw a slight bounce with a selloff in the markets leading to a drop of over two and a half percent in the NIKKEI to a six week low. USDJPY is trading at 108.86 at time of writing.

The NIKKEI was trading at 15661.99 down 420.26 points for a decline of 2.61%

European Central Bank Interest Rate decision and the Monetary Policy Statement and press conference with ECB President Mario Draghi will take place today. EURUSD is trading at 1.2618 The European Central Bank is expected to present details of an asset-buying plan in order to revive the flagging euro zone economy and see off the current period of deflation. The ECB Interest Rate is expected to remain unchanged at 0.05% Markit Services PMI figures for a number of European countries are due out tomorrow as are the Norwegian Unemployment rates. USDNOK was trading at 6.447

The FTSE100 was trading at 6534.99 down 22.53 points or minus 0.34% while the DAX was trading at 9332.02 down 50.01 points for a decline of 0.53% this session.

US markets today will hear the initial jobless claims and continuing jobless claims figures. Factory Orders for August are expected to fall sharply from July with expectations of a -9.3% drop from a 10.5% increase in July. EIA Natural Gas Storage change is out this session as well, and gas traders will be watching this figure. NGAS was trading at 4.048 at time of writing. USDCAD was trading at 1.1007 this session. The first US case of Ebola was reported in Texas this week, and this has led to some fears about a potential health risk in the country. African countries affected so far have seen a sharp drop in their economic output; could the same happen in the US?

The DOW closed at 16804.71 down 238.19 points, a drop of 1.40%

Hope you all have a nice day.