09.02.15

Good morning,

Reserve Bank of Australia’s Governor Glenn Stevens has said that firms should be willing and ready to settle trade in Chinese Yuan Renminbi in his first speech since Interest Rates were cut. He said that while the USD was still the top choice for global trade settlement, Chinese and Australian investor relations could increase in the coming years. AUDUSD trading at 0.7766 Japanese Consumer Confidence figures were out at for January 39.1 up from 38.8 previously. USDJPY trading at 118.93

The NIKKEI was trading at 17711.93 up 63.43 points or 0.36% from last week’s closing.

In Europe today eyes are on the new Greek government as they try to negotiate a new deal with the European Union and International Monetary Fund. This morning German figures show a better than expected Trade Balance. The Danish Trade Balance also was also improved. EURDKK trading at 7.4438 Friday will be the main day for data releases in the Euro Zone, with German and Euro Zone Gross Domestic Product figures due out.

The FTSE100 was trading at 6823.41 while the DAX was trading at 10749.54 shortly after the opening bell in Europe.

Across the Atlantic today we will see Canadian Housing starts for January and the Labor Market Conditions Index from the US. USDCAD trading at 1.2515 US Retail Sales figures out this Thursday along with Jobless Claims figures could be the main event this week from the US. EURUSD trading at 1.1357 at time of writing. GOLD was trading at $1242 per ounce.

The DOW closed at 17824.29 last week.

Hope you all have a good week.