22.07.14

Good morning,

Following the reserve Bank of Australia Governor Glenn Stevens saying that he is content with the current monetary policy it is likely that the record low interest rate for the foreseeable future. The AUD has climbed to an eight month high, up 5.2% for the year. The AUDUSD pair is currently trading at 0.9397 Meanwhile Japan has trimmed their economic growth estimate for the year; expectations have been lowered to a 1.2% growth from 1.4% forecast earlier this year.

The NIKKEI was trading at 15343.28 up 127.57 points this session, an increase of 0.84%

Swiss Trade Balance figures for June disappointed with a figure less than half of the expected 2,820M with a current balance of 1,377M USDCHF is trading at 0.8985 at time of writing. Very little European data expected out today. Finland’s Unemployment Rate steady at 8.6%. Tomorrow we will see the Bank of England meeting minutes, and BoE Governor Mark Carney will speak following the minutes release. Eurozone Consumer Confidence for July is also due during tomorrow’s session. Currently EURGBP is trading at 0.7915

The FTSE100 was trading at 6757.34 while the DAX was trading at 9673.56 both opening positively.

In the US today we expect the Consumer Price Index to show at 2.1% year on year. The US Redbook Index is due later in the session, as are the Housing Price Index and Existing Home Sales data. Speculation on Geopolitical risk continues, and the Ukraine Aviation Disaster is taking most of the attention this week. The disaster, which left 298 people dead, has heightened tension between the US and Russia. GOLD is currently trading at $1306 per ounce, with USOIL priced at $103.13 per barrel at time of writing.

The DOW closed at 17051.73 down 48.45 points, or minus 0.28%

Hope you all have a good day.