Oct 21


  • BY: Nati
  • October, 21st, 2014 7:42 +00:00

Good morning,

Chinese GDP has reported slightly stronger than had been expected expected (7.3% against 7.2% expected), and industrial production data saw 8.0% growth above the 7.5% expected, up from 6.9% last September. The Reserve Bank of Australia meeting minutes reiterated that the most prudent course was to maintain a period of stability in interest rates; this currently stands at 2.5% AUDUSD trading at 0.8802 while traders in Aussie Dollar will be looking towards the coming Consumer Price Index data for the 3rd quarter, due for release in the next 24 hours.

The NIKKEI was trading at 14804.28 down 306.95 points for a decline of 2.03% from the close yesterday.

European markets will again be fairly subdued today with little data of interest due out this session. Swiss trade Balance for September was published below expectations, with a reading of 2,452M against 2,646M expected. USDCHF trading at 0.9408 while EURCHF is at 1.2068 at time of writing.

Looking ahead to tomorrow’s session we will see the Bank of England voting figures, and the publication of the last meeting minutes. CABLE trading at 1.6159

The FTSE100 was trading at 6240.61 while the DAX was trading at 8690.67 both opening lower this session.

US Markets today will see the Redbook Index for the 17th of October and Existing Home Sales figures. EURUSD trading at 1.2829 Looking ahead to tomorrow’s session we will see Consumer Price Index data released for the USA with the Bank of Canada Interest Rate decision due 90 minutes later. The rate is expected to remain unchanged at 1% USDCAD trading at 1.1257 and this pair could prove volatile during tomorrow’s session. The EIA Crude Oil Stocks change will be awaited by USOIL traders, with the price at $82.44 at time of writing.

The DOW closed at 16399.67 yesterday.

Hope you all have a good day.