Sep 13


  • BY: Nati
  • September, 13th, 2013 7:24 +00:00

Asian markets were flat today so far as the sentiment seems to point toward Federal Reserve tapering next week. Japanese Industrial Production was up from a negative 4.6% to 1.8% growth according to figures released earlier. The USD/JPY is trading just under 100 at 99.77, with a high of 99.97 and a low of 99.42 so far. The Japanese Government has upgraded their Economic Assessment this month and they say their economy is ‘headed toward gradual recovery.’

The NIKKEI closed at 14404.70 up just 17.40 points or 0.12%

European Trade Balance figures for July released this morning are expected out at 15.3 billion euros, from 14.9 billion last June. Heading into the weekend no major developments are expected in Europe today. German regional elections will see voting in Bavaria take place on Sunday. EUR/USD was trading at 1.3279 with a high of 1.3302 and low of 1.3263 so far.

The FTSE100 closed at 6588.98 up 0.55 or 0.01% while the DAX closed at 8494.00 down 1.73 or minus 0.02%

Positive US employment figures released yesterday further increase the expectations that the Federal Reserve will begin tapering following the FOMC meeting on the 18th of this month. The Japanese Nikkei newspaper also printed a story today pointing to Larry Summers being appointed as the next Fed Chairman. Gold sold off this week dropping seventy dollars per ounce this week. The FOMC expectation and the Syrian chemical weapons conflict seemingly reaching a diplomatic, rather than a military, route of negations can probably explain the drop in value. CABLE was trading at 1.5799 with a high of 1.5813 and a low of 1.5775 so far.

The DOW closed at 15300.60 down 25.96 points or minus 0.17%

Hope you all have a nice weekend.