Jan 09


  • BY:
  • January, 09th, 2014 9:09 +00:00

Good morning,

Chinese figures dragged down Asian equities, the consumer price index rose 2.5, below the expected value of 2.7. The producer price index  fell 1.4 percent on a year to year basis.

The China Composite Index lost  16.72 points at 2,027.62 (-0.82%). The index is down -4.18% Year to Date and 1 year Performance stands at -8.15%.

The Hang Seng in Hong Kong  lost 209.26 points at 22,787.33 (-0.91%)  and the Nikkei  in Japan finished the session below 16,000 points at 15,880.33, with a loss of 241.12 points (-1.50%).

In Europe at 8:40 at 8:40 GMT the Eurostoxx 50 is trading at 3,110.23 (-0.01%) and the DAX in Germany is at 9,488.41 (-0.10%).

In the currency market the EurUsd is again above 1.36 at 1.3610 (+0.26%) and the UsdJpy is unchanged at 104.85. GbpUsd is trading in a 40 pips range at 1.6453 (+0.03%). The Euro before the European Central Bank press conference is doing well especially against the Japanese Yen and the Canadian Dollar.  Eurcad is on its 5th consecutive positive day at 1.4733 (+0.33%) and EurJpy is trading at 142.72 (+0.26%). The US dollar is unchanged against the kiwi dollar, NzdUsd at 0.8270 and the Aussie dollar is losing ground against the greenback, AudUsd at 0.8882 (-0.22%).

Precious metals this morning are both flat: Silver is at 19.53 $/ounce, Gold is trading at 1,226.48 $/ounce. Crude oil is slightly up at 92.62 $/barrel (+0.31%) and Natural Gas is down again today at 4.16 $/BTU (-1.42%).

If the macro news flow started today with the Chinese data, financial operators are evaluating their strategies after the FED minutes and today the Bank of England (12:30 GMT) and the European Central Bank (13:30 GMT)  with their press conference/statements will  offer to traders not only volatility but also a probability of shift in trading regime in several  currency pairs and asset classes.