Aug 21


  • BY: Nati
  • August, 21st, 2013 7:30 +00:00

Bank of Japan Governor Haruhiko Kuroda said in an interview that he won't hesitate to provide further monetary stimulus if needed, with risks from a planned sales tax hike or any outside factors making the need arise. The Japanese economy has been improving since the target for a 2% inflation rate and a plan to reach it was announced in April, although they are not there yet. USD/JPY was trading at 97.51 with a high of 97.67 and a low of 97.11 so far.

The NIKKEI closed at 13424.30 up 27.95 or 0.21%

According to German Finance Minister, Wolfgang Schaeuble, Greece is in need of further bailing out. The next bailout is expected to be on a much smaller scale than the previous two, where a total of 240 billion euros have been lent to Greece to cover shortfall in Government finances. EUR/USD was trading at 1.3401 with a high of 1.3426 and a low of 1.3188 so far and CABLE was trading at 1.5661 with a high of 1.5674 and a low of 1.5650 so far.

The FTSE100 closed at 6437.16 down 16.30 or minus 0.25% while the DAX closed at 8289.77 down 10.26 or minus 0.12%

The minutes of the FOMC meeting are released later today, and will be studied closely for clues to when the FED will begin to taper the bond buying. Will it be September as the markets expect? Emerging markets around the world have been selling off with investors returning investments to USD holdings on expectations, and interest rates creep higher. India, Turkey, Thailand and Brazil have lost ground against the dollar. Gold was trading at USD1365 per ounce today.

The DOW closed at 15003.00 down just 7.75 points or minus 0.05%

Have a nice day.