12.12.14

Good morning,

AUDUSD has fallen 7% so far this year, and comments made by Reserve Bank of Australia Glenn Stevens where he suggests the fair value could be as low as 75 US cents per AUD could push the pair lower. AUDUSD trading at 0.8268 Chinese Industrial Production figures fell by more than had been expected, 7.2% vs. 7.5% expected, down from 7.7% last year. Retails Sales in China however were out at 11.7% vs. 11.5% expected. Japanese Industrial Production fell by -0.8% year on year in October as shown by figures which were released overnight. USDJPY trading at 118.84

The NIKKEI was trading at 17371.58 up 114.18 points or 0.66%

A quiet day in Europe regards scheduled data releases, Euro Zone Employment change figures and Industrial Production from the economic area the figures given the most importance. Alongside these the British CB Leading Economic Index for October is out. EURGBP trading at 0.7895 while CABLE was trading at 1.5714

The FTSE closed at 6461.70 while the DAX closed at 9862.53 yesterday.

Across the Atlantic we will also expect a quiet day on the data releases. Provisional Reuters/Michigan Consumer Sentiment Index for December, and the Producer Price Index figures the main points from the US today. EURUSD trading at 1.2405. USOIL has fallen to $59.40 per barrel at time of writing. GOLD trading at $1222 per ounce.

The DOW closed at 17596.34 up 63.19 points or 0.36%

Hope you all have a nice weekend.