Dec 16


  • BY: Nati
  • December, 16th, 2014 8:00 +00:00

Good morning,

The Reserve Bank of Australia released the minutes of their last meeting overnight, but the Governor Glenn Stevens says that current economic weakness in Australia was not attributable to lack of credit, and play down the possibility of any imminent reduction in the already record-low 2.5% cash rate despite market expectations. AUDUSD trading at 0.8229 The Japanese electorate gave a majority to Prime Minister Abe over the weekend, in a vote which was said to be a referendum on economic policy. USDJPY trading at 117.36

The NIKKEI was trading at 16755.32 dropping 344.08 points or 2.01% off the previous close.

In Europe today Bank of England Stress Test results were published showing one of the eight banks tested (The Co-operative Bank) would fail in the event of a ‘severe economic downturn’ with two further banks (Lloyds and RBS) found to be at risk. GBPUSD trading at 1.5667 Consumer Price Index figures to follow this session. Markit Survey figures for France, Germany and the Euro Zone along with Interest Rate decisions for Sweden and Hungary will also be taking place this session. USDSEK trading at 7.624

The FTSE100 closed at 6182.72 while the DAX closed at 9334.01 following yesterday’s session.

Across the Atlantic today will be relatively quiet ahead of tomorrow’s FED Interest Rate Decision and Monetary Policy Statement release. Today we will see the Redbook Index for December 12th, and Markit Manufacturing Purchasing Manager’s Index figure, along with Housing Starts and Building Permits for November. Canadian Investment figures will also be out today. USDCAD trading at 1.1646 USOIL has fallen to $54.93 per barrel at time of writing.

The DOW closed at 17180.84 down 99.99 points or 0.58%

Hope you all have a nice day.