11.07.14

Good morning,

Australian Home Loans were flat for May when a 1% decrease had been expected. The NZD touched a 13-month high against the EUR overnight, with the currency also doing well against the USD. NZDUSD was at 0.8817 at time of writing. There is no data due out from Japan until Monday, when Industrial Production figures will be published. Tuesday next will see the Bank of Japan Monetary Policy Statement.

The NIKKEI was trading at 15164.04 down 52.43 points off the open, a decrease of 0.34%

European markets saw German Consumer Price Index figures in line with expectations, where their wholesale price index was below expectations slightly. Spanish CPI figures were also in line with expectations. There are fresh concerns from the banking sector, with concerns about debt payments at one of Portugal's biggest banks spreading to other economies in the region. Portugal’s regulator had to suspend trading of Banco Espirito Santo shares after nearly a fifth of its’ value was written off buy short sellers.

The FTSE100 was trading at 6694.11 up 21.74 or 0.33% while the DAX was trading at 9706.73 up 47.60 points or 0.49%

Canada will publish updated unemployment figures, with the rate expected to remain at 7% American monthly budget statement for June is also out this session, on a relatively quiet day heading into the weekend. EURUSD was trading above the 1.36 figure with USDCAD continuing downward with a current price of 1.0634, the Canadian unemployment figure this session could see volatility should expectations be missed.

The DOW closed at 16915.07 down 70.54 points a decrease of 0.42% from the open.

Hope you all have a good weekend.