09.07.2013

The JPY weakened yesterday against the USD and the EUR. Asian share prices rose and China and Indian central banks both put limits on trading; China has stipulated that all interbank bond transfers must be centralized. Indian central bank rules now bar banks from proprietary trading in currency futures and exchange-traded options. The Indian Rupee hit a record low yesterday. Japanese Bank officials have a two day meeting scheduled for tomorrow. USD/JPY was trading at 101.20 with a high of 101.29 and a low of 100.76 so far.

The NIKKEI closed at 14472.90 up 363.56 points or 2.58%

Greece received another bailout payment. 6.8 billion euros was handed over from the European Central Bank, the IMF and the European Union. 2.2 billion euros of which will go towards bond redemption this August. Swiss retail sales figures are released today. UK Merchandise Trade and Industrial Production figures are out today. Surveys in the UK point to strength in the economy, these figures may go some way to reaffirm the belief. GBP/CHF was trading at 1.4446 with a high of 1.4452 and a low of 1.4395 so far.

The FTSE100 closed at 6450.07up 74.55 or 1.17% while the DAX closed at 7968.54 up 162.54 or 2.08%

Ahead of tomorrow’s FOMC meeting minutes and the subsequent press conference with chairman of the FED, Ben Bernanke, we see a quiet day in the US markets regards release of fundamental data. Gold rose to 1257.03 USD/oz. Canadian housing start figures will be released today, and the USD/CAD was trading at 1.0533 with a high of 1.0573 and a low of 1.0530 so far ahead of the release. EUR/USD was trading at 1.2881 with a high of 1.2897 and a low of 1.2845 so far.

The DOW closed at 15224.70 up 88.85 points or 0.59%

Have a nice day.