07.08.15

Good morning,

The Bank of Japan overnight left Interest Rates unchanged at 0.1% The nine board members voted 8-1, just like the BoE, to leave unchanged its main policy of buying assets at a pace of ¥80 trillion per year, as had been widely expected, following a two-day policy meeting. USDJPY trading at 124.79 Australian Home Loans in June were up by 4.4% below the 5.0% forecast. The Reserve Bank of Australia Monetary Policy Statement highlighted that, “In the face of significant structural change, the Australian economy has continued to grow at a moderate pace over the past year.” Supported by low interest rates consumption has increased but employment figures have seen expectations lowered. AUDUSD trading at 0.7370

The NIKKEI closed at 20724.56 gaining 60.12 points or 0.29%

In Europe German Industrial Production figures missed expectations. EURUSD trading at 1.0942 France releases Trade Balance figures and Industrial Output numbers also out this session. Following on from the Bank of England Interest Rate decision and Governor Mark Carney’s press conference yesterday, today we will see Trade Balance figures from the UK. EURGBP trading at 0.7051 while CABLE is trading at 1.5505

The FTSE100 was trading at 6730.99 while the DAX was trading at 11526.18 both in the red.

Across the Atlantic today Non-Farm Payrolls figures out of the US along with the Unemployment Rate will be the main focus due to the significance tied to this data and the effect it can have on the FED Interest Rate meeting in September. Canada will also publish Employment figures. USDCAD trading at 1.3117 USOIL has dropped this week to $45.26 a level not seen since March of this year. GOLD trading at $1092 per ounce.

The DOW closed at 17419.75 down 120.72 points or minus 0.69%

I hope you all have a nice weekend.