22.05.15

Good morning,

In Asia the Bank of Japan has maintained increasing base money at an annual pace of 80 trillion yen through asset purchases as had been expected. USDJPY was trading at 120.72 at time of writing. BoJ Governor Kuroda is scheduled to speak this session, with the ECB President and the Bank of England Governor also due to speak around the same time. EURJPY and GBPJPY pairs may experience high volumes traded this session on account of what is the tone of their respective speeches.

The NIKKEI closed at 20264.41 up 61.54 points or 0.30%

In Europe this session German Gross Domestic Product grew by 0.3% in line with expectations. German IFO figures to follow this session. EURUSD trading at 1.1160 Italy will publish Retail Sales and Industrial Sales figures for March. British Public Sector borrowing figures the only data of note from the UK this session, although as mentioned Bank of England Governor Mark Carney is dues to speak. EURGBP trading at 0.7119 at time of writing. Looking ahead to next week, a number of European markets will remain closed for Whit Monday.

The FTSE100 was trading at 7047.88 while the DAX was trading at 11876.56 early in the Euro session.

Across the Atlantic today we will see Consumer Price Index data released simultaneously in both the US and Canada. Expect the USDCAD pair to be trading at high volume around the data. USDCAD trading at 1.2189 USOIL trading at $60.62 Looking ahead to the coming week, Tuesday will have the United States release of the Durable Goods Orders figures for April, and Canada will announce their Interest Rate decision on Wednesday.

The DOW closed at 18285.74 following yesterday's session.

Hope you all have a nice weekend.