06.08.15

Good morning,

The Australian Unemployment Rate rose to 6.3%; a worse than expected result. AUDUSD trading at 0.7328 Japanese Leading Economic Index and Coincident Index figures for June were both improved on their previous readings. USDJPY trading at 124.85 with the Bank of Japan Monetary Policy Statement and a speech by Bank of Japan Governor Kuroda due in the next 24 hours.

The NIKKEI closed at 20664.44 up 50.38 points or 0.24% on Wednesday’s closing price.

Europe today is focused on the British figures which will include the Interest Rate decision. The rate is expected to remain unchanged at 0.5% Industrial and Manufacturing Production figures for June will be published before the Interest Rate decision, and the subsequent speech by Bank of England Governor Mark Carney. EURGBP trading at 0.6978 Earlier we had seen German Factory Orders beat expectations. Tomorrow we will see Swiss Unemployment figures and Industrial Production figures out of Germany. EURCHF trading at 1.0704

The FTSE100 was trading at 6732.14 while the DAX was trading at 11652.85 early in the session.

Across the Atlantic today there is not a lot happening in the US asides for Jobless Claims figures. EURUSD trading at 1.0906 at time of writing. The FED Interest Rate rise is in focus for USD traders and recent remarks by Atlanta Fed President Lockhart has led to increased speculation that the rate hike is going to happen this September. GOLD trading at $1084 per ounce, with USOIL seeing a sell off towards the January and March lows towards $44 per barrel, with the price of a barrel at $45.22 at time of writing.

The DOW closed at 17540.47 dropping just 10.22 points or minus 0.06% on the previous close.

I hope you all have a nice day.