03.01.14

Today is a bank holiday in Japan, although that does not stop the JPY gaining ground against most currency pairs. USDJPY is trading at 104.40 with a high of 104.87 and a low of 104.07 so far, off from a high yesterday of 105.44. The Nikkei futures dropped back below 16000 dropping 450 points in the process. Chinese non-manufacturing PMI figures were out with a 54.6 reading, down from 56.0 last month.

Europe today begins with the news that house prices in Britain continue to rise, and 8.4% increase from this time last year, above the 7.1% increase that had been expected. Further Euro-Zone data out today will include Spanish Unemployment and Italian Consumer Price Index figures. CABLE was trading at 1.6452 with a high of 1.6458 and a low of 1.6422 so far.

The FTSE100 closed at 6717.91 down 31.18 points or minus 0.46% while the DAX closed at 9400.04 down 152.12 points or minus 1.59%

The US sees a busy day regarding FED member speeches, including one of Ben Bernanke’s last speeches as Chairman of the Federal Reserve. Three members, Plosser, Stein and Bernanke will give speeches today. Gas and Oil stocks figures are also out. USOIL was trading at 95.44 with a high of 95.71 and a low of 95.16 so far, down from over $100 per barrel on Monday. EURUSD was trading at 1.3652 with a high of 1.3672 and a low of 1.3645 so far.

The DOW closed at 16441.35 down 135.31 points or minus 0.82%

Hope you all have a nice weekend and a happy New Year.