07.07.15

Good morning,

As expected the Reserve Bank of Australia left Interest Rates unchanged at 2.0% AUDUSD trading at 0.7491 The New Zealand Institute of Economic Research saw a Business Confidence survey for the second quarter fall to 5% from 23% previously. NZDUSD trading at 0.6655 close to a five year low set this month. The Chinese Premier, Li Keqiang, has said the economic performance has been reasonable; despite the stock market slumping 30% since June.

The NIKKEI closed at 20376.59 after gaining 264.47 points, or 1.31% for the session.

In Europe the Greek government has been given a matter of hours to submit their outline for a liquidity assistance solution. A rejection of terms or a stalemate will see the possibility of a ‘Grexit’ increase. EURUSD trading at 1.1024 Swiss Unemployment figures show the rate remained unchanged at 3.3% this morning. Norway’s Manufacturing Output for May figures could have an effect on the Krone USDNOK trading at 8.1578 at time of writing. British Manufacturing and Industrial Production figures are out this session for May. EURGBP trading at 0.7085 with the NIESR GDP Estimate figure out later today.

The FTSE100 was trading at 6531.42 while the DAX was trading at 10912.29 shortly after the open.

In the US today we will get the June Trade Balance figures with the Redbook Index to follow. Canada will announce Trade Balance figures for May with USDCAD trading at 1.2695 USOIL has dropped to $53.20 per barrel after opening last week at close to $59 per barrel. CABLE trading at 1.5540 FOMC Meeting Minutes on the agenda tomorrow.

The DOW closed at 17683.58 down 46.53 points or minus 0.26% off the previous close.

I hope you all have a nice day.