Jul 16


  • BY: Nati
  • July, 16th, 2014 8:15 +00:00

Good morning,

Chinese Gross Domestic Product was up by 7.5% slightly above the 7.4% expected. Urban Investment rose by 17.3% and Industrial Production was out at 9.2%. The BRICS countries have agreed on a new development bank which will be headquartered in Shanghai. The New Zealand Dollar lost ground following the publication of lower than expected Consumer Price Index results. A reading of 1.8% was expected and the resulting 1.6% led to the NZDUSD pair dropping to currently trade at 0.8704 Ahead of the figure we had seen the price trading above 0.8765

The NIKKEI was trading at 15379.30 down 15.86 points or one tenth of a percent.

Following positive figures out of the UK yesterday their Unemployment figures are due out this session. Expectations of a 6.5% number, down from 6.6% has been the consensus. A deviation from this could send Sterling trading volumes up, with CABLE currently priced at 1.7139 Tomorrow we will see the Consumer Price Index for the Eurozone published. EURUSD was trading at 1.3554 following USD strength following testimony from Janet Yellen before Congress late in yesterday’s session.

The FTSE100 was trading at 6744.92 while the DAX was trading at 9766.65 at time of writing.

The Bank of Canada will publish their Interest Rate today, with an unchanged 1% expected. FED Chair Yellen will again give testimony today, after her speech yesterday lifted the USD. Will what she says today have the same effect or will there be anything left to add to her warning given of the potential for an earlier tightening if data improves. OIL has been declining down 27% for the year, with current prices at $100.57 per barrel ahead of the EIA Stocks figures later this session.

The DOW closed at 17060.68 up just 5.26 points, a change of 0.03%

Hope you all have a nice day.