21.08.14

Good morning,

Asian markets saw the HSBC Manufacturing Purchasing Manager’s Index miss expectations. A reading of 50.3, below the 51.5 that had been expected, was published. The factory sector slowed to a three-month low in August as output and new orders wind down. Japanese Manufacturing PMI however was positive, in that it came out above the expected 51.7, with a reading of 52.4. The Nikkei Index gained ground, while the JPY lost ground against the Greenback. USDJPY was trading at 103.89 at time of writing.

The NIKKEI was trading at 15586.20 up 131.75 points or 0.85%

Today sees British Retail Sales figures, the Swedish Unemployment rate and Norwegian GDP figures as well as Markit PMI data for Germany, France and the Euro Zone area. Swiss Trade Balance was also released which showed a positive trade balance, and a good increase in exports. USDCHF was trading at 0.9126 at time of writing. Europe will remain quiet tomorrow on the data front with no major releases scheduled.

The FTSE100 was trading at 6771.62 while the DAX was trading at 9341.66

US Markets today focus on further Jobless figures, with the ongoing Jackson Hole Symposium taking place at the Federal Reserve Bank of Kansas City. Markets will listen in order to see does FED Chair Janet Yellen hint at a change of policy in the speeches over the coming days. NGAS traders will await the EIA Natural Gas Storage change figures later this session. GOLD dropped overnight to currently trade for $1281 per ounce, hitting a low of $1274 at one point, a price not seen since mid-June.

The DOW closed at 16979.13 up 59.54 points, an increase of 0.35%

Hope you all have a good day.