Oct 08


  • BY: Nati
  • October, 08th, 2014 7:49 +00:00

Good morning,

Asian markets still anxious over the Hong Kong protests saw the HSBC China Services Purchasing Managers Index for September published at 53.5 while the Bank of Japan Economic Survey was released overnight, and moderate recovery is the expected path for the Japanese economy. USDJPY trading at 108.26 at time of writing. Australian unemployment data due in the next 24 hours is the main number for release in the region, with the rate expected to increase to 6.2% from 6.1% currently. AUDUSD is trading at 0.8783 at time of writing.

The NIKKEI was trading at 15595.98 down 187.85 points or 1.19% below yesterday’s closing price.

The European session had the updated Swiss unemployment rate this morning, and the rate remains at 3.2% as had been widely expected. The EURCHF pair trading at 1.2118 while USDCHF was trading at 0.9586 Looking ahead we will see the Bank of England’s rate decision tomorrow, which is expected to remain unchanged a t 0.5% EURGBP trading at 0.7878 at time of writing. ECB President Mario Draghi is due to speak tomorrow, and what he has to say could influence the direction of the Euro.

The FTSE100 was trading at 6472.51 while the DAX was trading at 6472.51

Across the Atlantic we will see the (EIA Crude Oil Stocks change) figures with USOIL trading at $87.89 per barrel a fresh 18 month low. EURUSD is trading at 1.2645 with the Federal Open Market Committee meeting minutes out this session followed by former FED Chair Ben Bernanke’s scheduled speech. Initial and Continuing Jobless claims figures are due out tomorrow. Canadian Housing Starts figures are out today, ahead of the important Unemployment data scheduled for Friday. USDCAD trading at 1.1178 and a positive jobs figure could strengthen the CAD

The DOW closed at 16719.39 dropping 272.52 points or -1.60%

Hope you all have a good day.