Jul 15


  • BY: Nati
  • July, 15th, 2013 7:33 +00:00

It’s a long weekend in Japan for Marine Day, and markets are quieter as a result in the region. Chinese GDP of 7.5% released as expected marking the second consecutive quarter of decreasing growth. As the growth figures were as expected stock and the closely linked Aussie AUD made a gain of about ¼ of a cent against the USD. AUD/USD was trading at 0.9083 with a high of 0.9120 and a low of 0.9054 so far. Reserve Bank of Australia minutes are out later tonight.

The NIKKEI closed at 14506.20 up 33.67 or 0.23%

European recession fears take further feeding in that Fitch has cut France’s rating. France has been cut from AAA to AA-plus by Fitch. Euro Zone output for May was down according to data released on Friday. The area’s Industrial Production fell by 0.3% on the month. Greek public sector jobs reform has still to be decided, and the country is split as to which direction to take, Government plans to cut thousands of jobs could lead to further protests in the troubled country. EUR/USD was trading at 1.3048 with a high of 1.3078 and a low of 1.3042 so far. CABLE was trading at 1.5095 with a high of 1.5126 and a low of 1.5081 so far.

The FTSE100 closed at 6544.94 up just 1.53 points or 0.02% while the DAX closed at 8212.77 up 53.97 or 0.66%

US monthly Retail Sales figures will be out later today, forecast to be 0.7%, up from last month’s 0.6% FED members have been recently showing their difference of opinion as to when the tapering should begin with St Louis Fed President, James Pollard, and Philadelphia Fed President, Charles Plosser, taking different sides of the argument on when to when to begin reigning in the bond buying programme. Plosser maintains that the cessation of purchasing should be done sooner than Pollard would like, who in turn would like to wait and see employment and inflation targets met before the stimulus is turned down.

The DOW closed at 15464.30 up 3.38 or 0.02%