19.06.14

Good morning,

New Zealand Gross Domestic Product grew by 3.8% pushing the NZD higher against the USD with the pair trading at 0.8721 at time of writing. Japanese figures also came out last night showing a decline in foreign investment. USDJPY was trading at 101.78 at time of writing, with Bank of Japan’s Governor Kuroda due to speak at the start of the Asian session tomorrow.

The NIKKEI was trading at 15361.16 up 245.36 points an increase of 1.62%

The Swiss National Bank left rates unchanged as had been expected this morning, USDCHF trading at 0.8940 at time of writing. British Retail Sales figures are also out this morning, widely expected to have contracted in May, we could see CABLE continue higher should the figures come out above the expectations. Trading at 1.7009, the highest level since May 2009, an advance above 1.7042 would mean a level not seen since 2008.

The FTSE100 was trading at 6824.67 up 46.11 points or 0.68% while the DAX was trading at 10006.45 up 76.12 or 0.77% from the open.

The FED Chair Janet Yellen spoke last session leaving the interest rates low and continuing the taper were the expected outcome. Mortgage-backed security and Fed Bond purchasing plans were both lowered by $5B to 15 and 20 billion dollars per month respectively. Today will see the continuing jobless claims figure. USD lost ground following Yellen’s speech yesterday and EURUSD is at 1.3615 at time of writing.

The DOW closed at 16906.62 up 98.13 points or 0.58%

Hope you all have a nice day.