24.09.15

Good morning,

Japanese markets reopened after the bank holiday and we saw a selloff in the market. USDJPY trading at 119.97 as the All Industry Activity Index figures for June only showed 0.2% growth, down from 0.5% previously. The Nomura/JMMA Manufacturing Purchasing Manager Index was also released over night. In the coming hours Consumer Price Index data is due out in Tokyo.

The NIKKEI closed at 17571.83 after dropping 498.38 points on the previous close falling 2.76%

In Europe this session we see that the Volkswagen emissions episode having an impact on the market, particularly the DAX as you would expect. Germany’s Gfk Consumer Confidence Survey was out for October below expectations at 9.6 below the 9.8 analysts had predicted. The IFO Expectations, Current Assessment and Business Climate figures for September were also out this session. Finland, Sweden and Norway were releasing varied data this morning, with Norway cutting Interest Rates by 25 basis points to 0.75% this morning. USDNOK trading at 8.4629 from 8.2902 before the rate cut.

The FTSE100 was trading at 6029.28 while the DAX was trading at 9592.98 early in the session.

Across the Atlantic today we await Jobless Claims figures and Durable Goods Orders figures out of the US. EURUSD trading at 1.1198 FED Chair Janet Yellen is due to speak on Inflation Dynamics and Monetary Policy in her first speech post-FOMC. USDCAD trading at 1.3335 USOIL trading at $45.11 while GOLD was trading at $1136 per ounce.

The DOW closed at 16279.89 falling 50.58 points or minus 0.31% on the previous close.

I hope you all have a nice day.