Jul 04


  • BY: Nati
  • July, 04th, 2013 7:23 +00:00

The Chinese economy is on course for 7.6% growth in the second half of this year according to economists. This is the slowest pace of growth for the world’s second largest economy for over ten years. Bank of Japan Governor, Haruhiko Kuroda, said that the Japanese economy is improving. The monetary stimulus plan, aimed at a 2% inflation rate, is a committed aim of the BOJ and the goal is to achieve this in a stable manner. The USD/JPY was trading at 99.57 with a high of 100.08 and a low of 99.49 so far.

The NIKKEI closed at 14018.90 down 36.63 points or minus 0.26%

European and British central banks both make rate announcements today. Mario Draghi and Mark Carney are not expected to make any changes to their respective interest rates at this point. Portugal has been in the news this week following resignations of two high ranking government ministers. This in turn has had a knock on effect on European markets as a whole. EUR/USD was trading at 1.2989 with a high of 1.3022 and a low of 1.2985 so far.

The FTSE100 closed at 6229.87 down 74.07 points or minus 1.17%

Today is Independence Day, July 4th in the US. Markets remain closed for the public holiday. Jobs figures released yesterday showed that unemployment applications fell, and hiring was up for the month of June. The US is now running a trade deficit of 45 billion dollars. When markets reopen on Friday in the US the non-farm payrolls figure will be eagerly awaited. Egypt troubles have led the US State department to issue notice that all American citizens should evacuate. CABLE was trading at 1.5247 with a high of 1.5287 and a low of 1.5238 so far.

The DOW closed at 14988.50 up 56.14 or 0.38%

Have a nice day.