14.10.14

Good morning,

Asian markets saw the National Bank of Australia’s Business Confidence (out at 5 from 7 previously, revised from 8) and Conditions (out at 1 from 3 previously, revised from 4)survey results, where both fell from their previous reading. AUDUSD trading at 0.8764 Ahead of the Chinese Consumer Price Index and Producer Price Index figures which are due out in the next 24 hours we have seen a sell off of Asian Indices this session so far. USDJPY trading at 101.19

The NIKKEI was trading at 14936.51 down 364.04 points, dropping 2.38% off the closing yesterday.

European markets today saw Spanish CPI out as had been expected. Italian CPI is due out with Consumer Price Index data from the UK also, along with Producer Price Index figures, with expectations of little or no change. Should there be a surprise in store we can expect GBP pairs to react. EURGBP was trading at 0.7914 while CABLE was trading at 1.603 German and Euro Zone ZEW Survey are published this session.

The FTSE100 opened lower and was trading at 6351.42 down 14.82 points, or minus 0.23% while the DAX was trading at 8767.96 down 44.47 points, dropping 0.50% from yesterday’s close.

Across the Atlantic today after the USD holiday for Columbus Day is expected to be another quiet day as there is little by way of fundamental news due for release. The Monthly Budget Statement for September is due for release by the Financial Management Service. Looking ahead we will see Retail sales figures for September out tomorrow, and Friday will see Reuters/Michigan Consumer Sentiment Index for October, with Canadian Consumer Price Index figures also out late in the week. USDCAD trading at 1.1239 with the EURUSD pair trading at 1.2693

The DOW closed at 16321.07 down 223.03 points or minus 1.35%

Hope you all have a good day.