23.02.15

Good morning,

The Bank of Japan released Monetary Policy meeting minutes with fears of the inflation target of 2% not being met coming to light. The fall in oil price is the main factor for this doubt, although should the price of oil gradually increase the inflation target could still be met. The Bank of Japan cut their projection of core consumer inflation to 1.0% from 1.7% due to the global slump in oil prices. USDJPY trading at 119.23

The NIKKEI was trading at 18466.92 up 134.62 on last week’s close for an increase of 0.73%

In Europe already this morning, German IFO figures disappointed which led to the EURUSD falling to 1.1313 at the lowest point this session so far, from 1.1392 when trading opened this week. German Gross Domestic Product figures could buoy the Euro should they beat expectations when announced tomorrow. British CBI Distributive Trades Survey for February is the next data to watch from the Euro Zone. GBPUSD trading at 1.5373

The FTSE100 was trading at 6911.32 while the DAX was trading at 11127.19

In the US today the Chicago Fed National Activity Index for January followed by the Existing Home Sales figures for the same month. Consumer confidence figures for February will be published tomorrow and FED Chair Janet Yellen will testify about the economy and the course of monetary policy before the Senate Banking Committee. She has not spoken in public since mid-December. The FED Interest Rate rise which is expected as early as June will possibly be topic most traders will be listening for.

The DOW closed at 18140.44 on Friday, gaining 154.67 points or 0.86%

Hope you all have a nice week.