13.07.15

Good morning,

A quiet start to the week expected asides from the extraordinary summit which was dealing with the Greek situation in the Euro Zone. An agreement has said to have been reached over a third bailout for Greece after talks.

Japanese Capacity Utilization and Industrial Production figures along with Chinese Trade Balance figures were out in Asia overnight. USDJPY trading at 123.41 at time of writing. The Bank of Japan will make a monetary policy statement this week.

The NIKKEI closed at 20089.77 up 309.94 points on Friday's close.

A stronger Euro on the Greek agreement sees the EURUSD pair trade up to a high of 1.1196 today. "There will not be a 'Grexit'," said Jean-Claude Juncker, referring to the fear that Greece would have to leave the euro. The Greek Government is now to implement tax hikes an other measures to fulfill conditions attached to the bail out package.

The FTSE100 was trading at 6719.59 while the DAX was trading at 11483.73 early in the session.

Across the Atlantic today a quiet start to the week expected with only the monthly Budget Statement for June released by the Financial Management Service expected in the US. Tomorrow will be more interesting with Retail Sales figures due out, and Wednesday will see the Canadian Interest Rate Decision. USDCAD trading at 1.2744

The DOW closed at 17760.41 at the close last week.

Hope you all have a good week.