25.06.14

Good morning,

Japanese Prime Minister Shinzo Abe has outlined further measures towards boosting Japan’s long term economic outlook. Following monetary easing and fiscal spending to boost growth, he will add corporate tax cuts and work towards boosting employment numbers. Japanese Consumer Price data is due out at the beginning of the final session this week. USDJPY was trading at 101.90 at time of writing.

The NIKKEI was trading at 15266.61 down 109.63 points or minus 0.71%

A relatively quiet day in the European markets on the data front today. Italian Retail Sales figures for April are due out, with German Consumer Confidence up slightly going into July according to the GfK report published this morning. Following the British Inflation Report yesterday the GBP weakened to its lowest level against both the Euro and the Greenback this week. EURGBP was trading at 0.8027 while CABLE was trading at 1.6960

The FTSE100 was trading at 6742.96, down 44.11 points or minus 0.65% while the DAX was trading at 9864.14 down 73.94 points or minus 0.74%

The US markets today await the annualized GDP figures for the first quarter. The reading is expected to come out at -1.7% from 2.6% previously. Markit Services Purchasing Managers Index figures is also due out this session as are Durable Goods Orders for May. Oil has been volatile the past week following tensions in the Middle East rising again, and today we will also see EIA Crude Oil Stocks data. USOIL is currently trading at$106.20 per barrel. EURUSD trades at 1.3612 at time of writing.

The DOW closed at 16818.13 down 119.13 or minus 0.70%

Hope you all have a good day.