08.01.15

Good morning,

Asian markets saw the Shanghai Stock Exchange banned individuals from investing in junk bonds with immediate effect. Meanwhile the Chinese Government has committed to investing US$250bn in South America over the next decade. Looking ahead Australian Retail Sales for November are expected to grow by 0.2% down from 0.4% growth in October, with AUDUSD trading at 0.8110 Japanese Leading Economic Index and their Coincident Index will be released during tomorrow’s Asian session. USDJPY trades at 119.78

The NIKKEI was trading at 17167.10 up 281.77 points or 1.67%

In Europe German Factory Orders disappointed expectations falling by more than had been forecast. The Euro Zone Retail Sales figures will be out for November later this session, with EURUSD trading at 1.1794 In England today the Bank of England will announce their updated Interest Rate decision, with an unchanged 0.5% widely forecast. EURGBP trading at 0.7850

The FTSE100 was trading at 6495.83 up 76.00 points or 1.18% while the DAX was trading at 9644.91 up 126.73 points or 1.33% early in the European session.

US markets will focus on the Jobless Claims figures this session. The USD has gained against most other currencies. USDCHF trading at 1.0175 a level not seen since September 2010. USDCAD trading at 1.1830 with the Canadian New Housing Price Index the only Canadian data due to be published today. USOIL trading at $48.95 while GOLD trades at $1207 per ounce. Unemployment Rates in both Canada and the US will be watched closely during tomorrow’s session.

The DOW closed at 17584.52 up 212.88 points or 1.23%

Hope you all have a nice day.