08.09.14

Good morning,

Chinese Trade Balance came out better than expected, with exports beating expectations and imports down. This Wednesday we will see the Reserve Bank of New Zealand Interest Rate decision, with expectations of no change priced in. The rate is currently fixed at 3.5% NZDUSD was trading at 0.8317 at time of writing. The Japanese economy contracted by 7.1% in April – June more than had been estimated, which could be on account of the April Sales Tax increase. USDJPY was trading at 105.10

The NIKKEI was trading at 15705.11, an increase of 36.43 points or 0.23%

Europe today saw German Trade Balance results, and the Swiss Unemployment Rate remain unchanged at 3.2% as had been expected. Swiss Retail sales decreased year on year for July, with their Consumer Price Index showing slight improvement for August. USDCHF was trading at 0.9315 close to the year high set last Thursday, at 0.9335 Europe today has little data of notice other than that already mentioned, so looking ahead to tomorrow the Bank of England Governor Mark Carney is due to speak. EURGBP was trading at 0.8005 at time of writing.

The FTSE100 was trading at 6837.09 down 18.01 points from Friday’s close a drop of 0.26% while the DAX was trading at 9749.13 up just 2 points.

The US today will see the Consumer Credit figures but little else. Oil Traders will be looking to the EIA Crude Stocks figure on Wednesday with USOIL currently priced at $93.03 per barrel. EURUSD is trading at 1.2944 at time of writing, which is just above the yearly low set last Thursday following the ECB Interest Rate decision. USDCAD was trading at 1.0899 while GOLD is being offered at $1268 per ounce this session.

The DOW closed at 17137.36 last week.

Hope you all have a good week.