18.07.14

Good morning,

Bank of Japan meeting minutes have been released, with focus on geopolitics and global interest rate declines leading to a lowered economic growth forecast. Going into the weekend there are no further expected data releases from the region. The shooting down of a Malaysian airplane leading to the deaths of 298 people on board, over the Ukraine, could lead to further heightening of the Geopolitical risks in the region, with OIL prices increasing to $103.70 per barrel. Asian stock markets opened lower this session, with the particular airlines shares opening 18% lower.

The NIKKEI was trading at 15215.71 down 154.55 points a decline of 1.01%

European markets have opened lower this morning, with very little by way of data is expected today aside from the Eurozone Current Account figures. EURUSD is currently trading at 1.3527 with news today focused on the air disaster and the potential further deterioration of relations between Russia and the West. CABLE was trading at 1.7102 at time of writing.

The FTSE100 was trading at 6702.16 while the DAX was at 9693.49 both down over half of one percent.

The Reuters/Michigan Consumer Sentiment is expected to be the main market moving data out of the US this session, with the July reading expected to be published at 83.0, from 82.5. Canada will also publish Consumer Price Index data for June. USDCAD was trading at 1.0753 while GOLD has gained ground due also to the geopolitical risks associated with Ukraine and Gaza. Current price is at $1312 per ounce.

The DOW closed at 16976.81 down 161.39 points or minus 0.94%

Hope you all have a good weekend.