17.06.14

Good morning,

Russia turned off Ukraine’s gas supply yesterday after failure to come to an agreement on the deal. Negotiations broke down with political tensions high as fighting continues in eastern Ukraine. Russia has said they have given humanitarian aid to those affected by the fighting and that up to 100,000 people have crossed the Russian border to escape the fighting. Iraq also has influenced the markets with Asian shares falling overall during yesterday’s session. Oil prices have risen to yearly highs this month, currently trading at $106.60 per barrel.

The NIKKEI was trading at 14975.97 up 42.68 points or 0.29%

Today we will see Consumer Price Index figures from the United Kingdom along with Retail Price Index figures. German and Euro Zone ZEW Economic Sentiment figures are also due out this session. EURUSD is currently trading at 1.3563 with CABLE trading at 1.6980, after briefly trading above the 1.70 figure yesterday for the first time since 2009. Tomorrow we will see the Bank of England meeting minutes and the vote count releases.

The FTSE100 closed at 6754.64 down 23.21 points or minus 0.34% while the DAX closed at 9883.98 down 28.89 points or minus 0.29%

The United States will release Consumer Price Index data this session. Housing Starts and Building Permits figures will be released at the same time. Tomorrow will see the important FED Interest Rate decision, with further tapering of the bond buying stimulus possible if not probable. GOLD was trading at $1266 per ounce at time of writing. USDCAD was trading at 1.0853 falling from a high of 1.1278 in March.

The DOW closed at 16781.01 up just 5.27 or 0.03%for the session.

Hope you all have a good day.