04.08.15

Good morning,

The Reserve Bank of Australia left Interest Rates unchanged at 2.0% as the market had expected. Both Export and Import figures were up for the month of June and Retail Sales figures beat expectations coming out at 0.7% when a 0.4% rise has been forecast. AUDUSD trading at 0.7389 Unemployment figures will be announced later this week. Japanese Labor Cash Earnings figures for June fell by 2.4% year on year. USDJPY trading at 123.87 with the Bank of Japan Monetary Policy Statement the main Japanese data out later this week.

The NIKKEI closed at 20520.36 down 27.75 points or minus 0.14%

In Europe this session we see House Price data from the United Kingdom including Halifax and Nationwide Indices. Britain will also announce Purchasing Manager’s Index Construction figures for June this session. EURGBP trading at 0.7030 The Euro Zone Producer Price Index figure for June is also released this session. Thursday will see the Bank of England Interest Rate decision.

The FTSE100 was trading at 6659.41 while the DAX was trading at 11411.26 both opening lower this session.

In the US today we begin by looking at the Redbook Index. In Canada we will see the release the Royal Bank of Canada Purchasing Manager’s Index for July. USDCAD trading at 1.3106 The ISM New York Index for July and the IBD/TIPP Economic Optimism survey for August will be announced as will Factory Orders figures for June. EURUSD trading at 1.0964 USOIL is trading at $46.02 per barrel. Thursday will see unemployment data from both the US and Canada which could see high volatility in the USDCAD pair in particular.

The DOW closed at 17598.20 down 91.66 points off Friday’s close, a decline of 0.52%

I hope you all have a good day.