04.09.13

Australian GDP has come in at 6% growth as had been expected, the AUD gained on the figure which means that Australia now has been growing for twenty two years without a recession. AUD/USD was trading at 0.9123 with a high of 0.9127 and a low of 0.9035 so far. Japan will publish GDP figures tomorrow, followed by the Bank of Japan interest rate decision. The rate of 0.1% is expected to remain unchanged. USD/JPY was trading at 99.60 with a high of 99.79 and a low of 99.41 so far.

The NIKKEI closed at14053.90 up 75.43 points or an increase of 0.54%

European PMI figures form France, Germany, Italy, Spain and the UK will be released today. Italy, Spain and Germany are expected to post positive results, while the opposite is expected from France and the UK. European Central Bank President, Mario Draghi, has said that the ECB rate can remain low for an extended period. Tomorrow will see the European Interest Rate announced. Expectations are that the rate will remain unchanged at 0.5%. EUR/USD was trading at 1.3168 with a high of 1.3177 and a low of 1.3159 so far.

The FTSE100 closed at 6468.41 down 37.78 points or minus0.58% while the DAX closed at 8180.71 down 63.16 points or minus 0.77%

US Congress will hold a vote on military intervention in Syria after alleged use of chemical weapons by the Assad Government Forces. Any military involvement subject to the vote being passed, limits the duration to 60 days, with the possibility of a further 30 day extension subject to conditions. Also no American troops will ‘put boots on the ground’. The expectation is that an aerial assault will follow any confirmation from Congress aimed at specific Syrian Government targets. Russia meanwhile has warned, following the UN inspection in which no proof of who carried out the gas attack was found, that it was for the UN Security Council to decide on the next course of action to be taken. Gold and oil prices spiked towards the close of yesterday’s session.

The DOW closed at 14834.00 up 23.65 or 0.16%

Have a nice day.