Jul 23


  • BY: Nati
  • July, 23rd, 2013 7:33 +00:00

Japanese outlook has improved; the government has said growth is improving following monetary stimulus and government spending. Following the weekend election Prime Minister Abe has said focus will be on reviving the economy further, working towards a self-sustainable recovery. The USD weakened against the JPY following worse than expected housing figures, leading to expectations of further monetary easing from the FED. Chinese Government see 7% as the minimum growth they can tolerate, with expectations at 7.5% for the year it will be interesting to see what action the Chinese will take should they see a decline in growth figures. The USD/JPY was trading at 99.56 with a high of 99.68 and a low of 99.14 so far.

The NIKKEI closed at 14778.50 up 120.47 or 0.82%

With European PMI figures out tomorrow, today the consumer confidence index is out, with expectations of -18.3, from the previous -18.8. An unemployment survey expects Spain, Greece and Portugal to suffer unemployment levels over 27% until 2015, before gradually coming down. Consumer confidence is low, and due to high unemployment and austerity going forward perhaps there will be little change in the trend. The EUR/USD was trading at 1.3185 with a high of 1.3206 and a low of 1.3178 so far. EUR/AUD was trading at 1.4234 with a high of 1.4259 and a low of 1.4208 so far.

The FTSE100 closed at 6623.17 down just 7.50 or minus 0.11% while the DAX closed at 8331.06 down 0.51 or minus just 0.01%

US home sales came in lower than expected yesterday. The figure came in at only 5.08 million units, less than the 5.25 million expected annually. The USD weakened following the release and GOLD increased. XAUUSD was trading at 1333.22 with a high of 1338.27 and a low of 1328.74 so far. CABLE was trading at 1.5375 with a high of 1.5380 and a low of 1.5353 so far. Canadian retail sales figures are out today; ahead of this USD/CAD is trading at 1.0319 with a high of 1.0340 and a low of 1.0317 so far.

The DOW closed at 15545.50 up just 1.81 or 0.01%

Have a nice day.