03.07.14

Good morning,

AUDUSD sold off since yesterday’s speech by Reserve Bank of Australia’s Glenn Stevens where he said the Aussie dollar is set to fall, “and not by just a few cents.” Currently trading at 0.9366 down from the 0.95 figure before yesterday’s session began. Building permit data was positive for Australia, although Retail Sales figures disappointed. There is no further data of note from the Asian region due out for the rest of the week.

The NIKKEI was trading at 15348.29 down 21.68 points, a drop of 0.14%

Europe will see a series of Markit Services PMI data throughout the morning session from Spain, Italy, France, Germany, and the UK. All this data will then lead to the Euro Zone Retail Sales figures which are expected to come in slightly less month on month and year on year. The big European news today will be the European Central Bank Interest Rate Decision. The rate was recently decreased to 0.15% and it is unlikely to be changed again. EURUSD was trading at 1.3657 and EURGBP was trading at 0.7961

The FTSE100 was trading at 6822.93 while the DAX was at 9915.66

The US will release Non-Farm Payroll data today with expectations of a 213K figure for June, from 217K. The unemployment rate is expected to remain unchanged at 6.3% GAS traders will see the EIA Natural Gas Storage change figure later in the session. The US Markets will remain closed tomorrow for Independence Day celebrations, leading to lower trading volumes worldwide. GOLD is currently traded at $1320 per ounce.

The DOW closed at 16976.24 up 20.17 points or 0.12%

Hope you all have a nice day.