20.05.14

Good morning,

Following yesterday’s slow start to the week Asia awoke this morning with news that s army declared martial law in response to protests which have been ongoing for the past six months. The declaration of martial law does not constitute a coup, deputy army spokesman Colonel Winthai Suvari said. Asian shares fell along with the Thai Baht. Japanese Industry Activity Index posted at 1.5% with 1.6% expected. The Japanese Interest Rate decision will be published at the start of the next Asian session.

The NIKKEI was trading at 14105.78 up 99.34 points, a gain of 0.71%

European Producer Price Index figures are due out today for Germany, where the reading was slightly below expectations, and Great Britain. Italy awaits Industrial Sales figures. CABLE is currently trading at 1.6812 and USDCHF was trading at 0.8929. The Bundesbank has dampened their outlook for the second quarter, with their expectation of a slowdown saying the GDP growth will probably be relatively weak in the spring.

The FTSE100 closed at 6844.55 down 11.26 points or minus 0.16% while the DAX closed at 9659.39 up 30.29 points, an increase of 0.31%

In the US today the Redbook Index is due out along with some speeches from FED members Dudley and Plosser. EURUSD was trading at 1.37 with GOLD back below the $1300 per ounce level again today. Currently USOIL is trading at $102.24 per barrel.

The DOW closed at 16511.86 up 20.55 points or 0.12%

Hope you all have a good day.