11.06.15

Good morning,

New Zealand unexpectedly dropped Interest Rates from 3.5% to 3.25% leading to a 200 pip drop on the NZDUSD pair almost immediately. The pair is currently trading at 0.7014 a level not seen since 2010, from a 0.7231 yesterday high during the preceding session. Australia’s Unemployment Rate now stands at 6.0% which is down from 6.1% previously. Expected to have increased to 6.2% by the majority of analysts the AUD rallied on the result. AUDUSD trading at 0.7760

The NIKKEI closed at 20382.97 gaining 336.61 points or 1.68%

In Europe this session we will not see a lot of data released. French Consumer Price Index figures were in line with expectations while Sweden’s Industrial Production figures improved. EURUSD trading at 1.1260 A quiet end to the week regards data releases in Europe, with the Greek situation expected to be closely watched by markets. Germany is said to have offered a staggered payment deal to the Greek government, although this is unconfirmed at this point

The FTSE100 was trading at 6836.87 while the DAX was trading at 11350.57 early in the session.

US Retail Sales figures for May will be the main market mover this session. Expectations price in a 0.7% figure, up from 0.1% for Retail Sales excluding Autos. Initial Jobless Claims figures also out this session. Canada will publish Capacity Utilization for the first quarter, and the New Housing Price Index figures for May. USDCAD trading at 1.2308 at time of writing. USOIL is trading at $61.62 per barrel.

The DOW closed at 18000.40 up 236.36 points or 1.33%

Hope you all have a nice day.