06.10.14

Good morning,

We start off the week with an Australian and Chinese holiday which will possibly leave the volume of Asian trading lower than usually expected at the outset of a normal week. USDJPY has opened this week at 109.75 and is currently trading at 109.53 Asian stocks are on the rise as the protesters in Hong Kong have started clearing the barriers which had been placed as part of their protests. The Bank of Japan’s new Interest Rate will be announced within the next 24 hours, as will the Reserve Bank of Australia’s rate. Both will be releasing monetary policy statements with the updated interest rate decisions.

The NIKKEI was trading at 15890.95 up 182.30 points, an increase of 1.16%

German factory orders were down by more than had been expected according to the data release this morning. A decline of 5.7% was the reading when a two and a half percent drop had been expected for the month of August. Swedish Industrial Production and Manufacturing figures are also out this session, as is the Sentix Investor Confidence survey result for the Eurozone going into October. EURUSD was trading at 1.2532 at time of writing, while USDSEK was trading for 7.2434 ahead of the data release.

The FTSE100 was trading at 6549.66 while the DAX was trading at 9307.97

Across the Atlantic we will see the Canadian Ivey Purchasing Managers Index today with Canada’s big data this week scheduled for Friday, when the updated unemployment rate will be announced. The expectation is that it will remain unchanged at 7% US markets will see the Federal Open Markets Committee meeting minutes on Wednesday USDCAD was trading at 1.1225 at time of writing. A number of FED member and former member speeches take place this week. Gold is trading below $1200 per ounce for the first time in 2014.

The DOW closed at 17009.69 up 208.64 points; an increase of 1.24% for Friday’s session.

Hope you all have a good week.