Jul 24


  • BY: Nati
  • July, 24th, 2013 7:53 +00:00

Chinese manufacturing figures are at their lowest level since August last year according to the HSBC/Markit Purchasing Managers’ Index. Asian stocks fell following the figures as did the AUD, although the currency regained the losses due to a Consumer Price Index result that some could say would make it harder for the Reserve Bank of Australia to lower the interest rate for the time being. The AUD/USD pair was trading at 0.9252 with a high of 0.9316 and a low of 0.9241 so far.

The NIKKEI closed at 14731.30 down 47.23 points or minus 0.32%

European Purchasing Managers Index figures are out today, and shares in Europe could open higher following the Chinese figures. German Prime Minister Angela Merkel has promised there will be no tax hikes ahead of the upcoming election in September. Merkel argued that raising taxes may not actually yield higher tax revenue. Greek bailout aid is possibly going to be delayed as they have yet to complete 5 of the 22 ‘required actions’ required that would trigger the release of funds. CABLE was trading at 1.5378 with a high of 1.5380 and a low of 1.5345 so far.

The FTSE100 closed at 6597.44 down 25.73 points or minus 0.39% while the DAX closed at 8314.23 down 16.83 or minus 0.20%

US figures of interest today include new home sales figures for June. 482k expected, which would be an increase on the previous figure of 476k. The USD gained following the Chinese data release. One month after former US government contractor Edward Snowden took up residence in Russia’s main airport, it emerged that Russia may grant him temporary asylum. Barak Obama has asked Russia to extradite him, but says any plan by the US president to visit Russia will not be put on hold due to this issue. Yesterday Syrian intervention could prove costly for the United States the Chairman of the Joint Chiefs of Staff said. Any intervention could lead to an escalation of the unrest in the area, possibly affecting oil transport in the region. EUR/USD was trading at 1.3244 with a high of 1.3254 and a low of 1.3190 so far.

The DOW closed at 15567.70 up just 22.19 points or 0.14%

Have a nice day.