Jun 18


  • BY: Nati
  • June, 18th, 2013 8:21 +00:00

Asian share prices had a mixed day yesterday. Chinese home prices for May were up 6% from this time last year. Japanese Prime Minister Shinzo Abe is in Northern Ireland this week as part of the G8 summit meetings. He is expected to speak on the monetary stimulus, known as ‘Abenomics’, which have weakened the JPY to some extent. Recently though the currency has gained against the USD. USD/JPY was trading at 94.96 with a high of 94.99 and a low of 94.43 so far. Gold (XAUUSD at 1380 dollars per ounce) demand has fallen in recent weeks, specifically in India and China.

The NIKKEI closed at 13007.30down 25.84 or minus 0.20%

British producer price index (PPI) and consumer price index (CPI) figures are released this morning. The G8 meeting has representatives from the Euro Zone and Britain; David Cameron is making tax avoidance a main issue, while a trade agreement aimed at free trade between the EU and the US may be discussed. Spanish figures showing a deficit of 2.17% of GDP up until the end of April, sees the targeted cut in the deficit, from 7% to 6.5%, within reach. The EUR/USD was trading at 1.3350 with a high of 1.3367 and a low of 1.3325 so far.

The fTSE100 closed at 6332.45 up 1.96 points or just 0.03% while the DAX closed down 28.77 at 8186.96 a loss of 0.35%

US Federal Open Market Committee (FOMC) begins a two policy meeting today; trading in the markets will be on standby with lower volumes expected until later in the week. Investors await FED Chair Bernanke’s plans going forward regarding the FED bond buying stimulus programme. Just as recently as last month, on May 22nd, Bernanke hinted that the stimulus may be tapered off. Russia Premier Vladimir Putin and US President will sit at opposing sides of the table at the G8 meeting, their opposing views on the Syrian conflict taking probably will not get resolved this week.

The DOW closed at 15179.80 up 109.67 or 0.73%

Have a nice day.