15.05.15

Good morning,

Speaking overnight, Bank of Japan Governor, Haruhiko Kuroda, said that further monetary easing is not necessary in the immediate future. The 2% inflation target is intact, and should be met within the two-year timeframe set. USDJPY trading at 119.46 Japanese Industrial Production figures will be released at the outset of the trading week coming.

The NIKKEI closed at 19732.92 gaining 162.68 points, up 0.83%

In Europe today we have Swiss Producer and Import Prices data for April. EURCHF trading at 1.0419 Turkish jobless averages and Budget Balances are out this session. USDTRY trading at 2.5895 Norway’s Trade Balance is also due out this session. USDNOK trading at 7.3493 at time of writing. Looking ahead to next week we will see Swiss Retail Sales figures on Monday and the Bank of England’s voting announced on Wednesday. EURGBP trading at 0.7215

The FTSE100 was trading at 6995.18 while the DAX was trading at 11588.96 early in the session.

In the US today Industrial Production is expected to rise slightly in April, when it had contracted by 0.6% in March. Capacity Utilization figures also released this session. Canada will have Manufacturing Shipments figures for March and portfolio figures for the same month. USDCAD trading at 1.2005 at time of writing. FOMC meeting minutes out the middle of next week the main data to watch. EURUSD trading at 1.1372

The DOW closed at 18252.24 gaining 191.75 points or 1.06% following yesterday’s session.

Hope you all have a nice weekend.