Sep 03


  • BY: Nati
  • September, 03rd, 2013 7:23 +00:00

The Reserve Bank of Australia left interest rates unchanged at 2.5% while retail sales figures came in lower than expected at 0.1%, below the expected increase of 0.4% ahead of parliamentary elections later in the week. China’s purchasing managers' index (PMI) dropped to 53.9 from July's 54.1. The Bank of Japan meets tomorrow and Thursday, with minutes from the meeting released next week on the 10th. AUD/USD was trading at 0.9032 with a high of 0.9046 and a low of 0.8971 so far. Japan is expected to speak about proposed sales tax increases at the G20 summit in St. Petersburg later this week. USD/JPY was trading at 99.54 with a high of 99.69 and a low of 99.31

The NIKKEI closed at 13978.40 up 405.52 or 2.99%

European markets look forward to British construction PMI figures and Euro Zone producer price index numbers today. British PMI is expected to increase from 57.0 to 58.3, and the EZ PPI monthly figures are expected to show a slight improvement. Thursday will see a Bank of England announcement, and the rate is expected to remain at 0.5%, along with asset purchases of GBP375 Billion monthly also expected to continue. Swiss GDP figures show a quarterly growth of 0.5%, where it had only been expected to increase by 0.3%. USD/CHF was trading at 0.9370 with a high of 0.9373 and a low of 0.9342 so far.

The FTSE100 closed at 6506.19 up 93.26 or 1.45% while the DAX closed at 8243.87 up 140.72 an increase of 1.74%

Following the Labor Day holiday the US markets reopen for business again today. The Bank of Canada will meet tomorrow, and interest rates there are expected to remain at 1.0% The Syrian conflict, and any intervention by the US will be studied closely as to what action will be taken. US President Barack Obama is ready to intervene following a chemical weapon attack in the country late last month. Oil prices will be hit should the region experience any military action by the United States. Non-farms payroll figures will be released later in the week, and the closer we get to the Federal Reserve Bank meeting on the 18th, the more action these releases will generate.

The DOW closed at 14810.30 down 30.64 or minus 0.21%

Have a nice day.