10.09.14

Good morning,

Asian news overnight saw that machinery orders in Japan were up year on year for July, but the JPY continues its’ decline against the Greenback. Current market prices see the pair trading between 106.04 and 106.55 so far this session. New Zealand Rate decision ahead, with expectations an unchanged 3.5% priced in. Any shock could lead NZD pairs to change course, with NZDUSD currently trading at 0.8227, an 8 month low.

The NIKKEI was trading at 15788.78 up 39.63 points, an increase of 0.25%

Yesterday, when the Bank of England Governor Mark Carney spoke, it was indicated that Interest Rates in the UK may rise early in the New Year should the UK economy recover sufficiently. Today the UK Inflation Report Hearings are set to be published. All in all a quiet day in Europe on the data front expected. EURUSD is trading at the lowest level we’ve seen since July 2013 at 1.2928 at time of writing. EURGBP has struggled to recover past the 0.8035 level with current price at 0.8012

The FTSE100 was trading at 6816.76 while the DAX was trading at 9655.89; both down from the close of yesterday’s trading.

In the US today we will get the EIA Crude Oil Stocks change figures, with USOIL currently priced at $92.66 per barrel. CABLE has seen Sterling weakness coupled with Dollar strength leading to the pair gapping down at the outset of this week. Cable is currently trading at 1.6132 Other data in the US today will see the MBA Mortgage Applications for September. USDCAD was trading at 1.1002 at time of writing. GOLD was trading at $1255 per ounce.

The DOW closed at 17013.87 yesterday, a drop of 97.55 points, or down 0.57% from the previous close.

Hope you all have a nice day.