23.07.14

Good morning,

Overnight data released in Australia show that the Consumer Price Index rose slightly less than expected, with a 3.0% figure published, up from 2.9% where a 3.1% reading had been forecast. AUDUSD was trading at 0.9440 at time of writing. The Reserve Bank of New Zealand will publish their interest rate decision going into the next Asian session. The consensus is that the RBNZ will increase rates to 3.5% from the current 3.25%

The NIKKEI was trading at 15328.56 down 14.72 points or minus 0.10%

The big market mover in Europe today will be the Bank of England meeting minutes which are due to be published at 08:30GMT Eurozone Consumer Confidence for July will be published this afternoon shortly after Bank of England’s Mark Carney gives his press conference. CABLE was trading at 1.7075 at time of writing. Ukrainian and Middle East tensions are high on the geopolitical agenda this week, with GOLD, a traditional safe haven in times of crisis, trading at $1307 per ounce at time of writing.

The FTSE100 was trading at 6795.02 while the DAX was at 9760.30

A quiet day expected across the Atlantic, with MBA Mortgage Applications for July, and the EIA Crude Oil Stocks figures due from the US. USOIL is currently trading at $102.00 per barrel at time of writing. Canadian Retail Sales figures are also out today, with USDCAD trading at 1.0718. Positive Canadian Retail Sales could improve the Loonie strength to trade below the 1.07 figure once more, a miss of the 0.6% expected increase could however lead to shorting of the CAD.

The DOW closed at 17113.54 up 61.81 points, an increase of 0.36%

Hope you all have a good day.