18.09.15

Good morning,

In Asia the Reserve Bank of Australia’s Governor Glenn Stevens delivered a positive speech to the House of Representatives Economics Committee in which he also said that the important thing to remember regards the Federal Reserve Interest Rate hike that the market expects is the rate of the subsequent increases after the initial rise. AUDUSD trading at 0.7247 The Bank of Japan Monetary Policy Meeting Minutes was also released overnight with Japanese Exports mentioned to be under threat if global economic slowdown, but particularly China, continues. USDJPY trading at 119.54

The NIKKEI closed at 18070.21 down 362.06 points or minus 1.96%

In Europe today there will not be much data scheduled for release. Euro Zone current Account, Dutch Consumer figures, Hungarian Gross Wages and Czech Foreign Debt all minor figures. EURUSD trading at 1.1434 Looking ahead to Monday we will see Unemployment rates from Poland and Slovakia along with the German Producer Price Index figures for August. EURGBP trading at 0.7331

The FTSE100 was trading at 6175.11 while the DAX was trading at 10128.36 early in the session.

Across the Atlantic yesterday the markets react to the FED Interest Rate decision where rates were left unchanged at 0.25% The first interest rate increase in nine years can now only take place in December at the earliest. Today however we will see Consumer Price Index figures out of Canada USDCAD trading at 1.3081 USOIL trades at $46.84 per barrel.

The DOW closed at 16674.74 falling 65.21 points or minus 0.39% on the previous close.

I hope you all have a nice weekend.