Jul 25


  • BY: Nati
  • July, 25th, 2013 8:21 +00:00

Reserve Bank of New Zealand (RBNZ) interest rate remains unchanged at 2.5% The NZD is gaining against the AUD, from an open of 1.1611 yesterday, the Kiwi is now trading at 1.1425 to the AUD. Figures from China recently have further weakened the AUD. RBNZ Governor Graeme Wheeler said in a statement that stimulus will need to be phased out as the economy picks up. NZD/USD was trading at 0.8000 with a high of 0.8006 and a low of 0.7945. Japanese CPI figures are released tonight. The Finance Minister Taro Aso said he intends to decrease government debt, and increase public finances. This autumn will see if there is an increase in sales tax as a method of increasing the government balance sheet. USD/JPY was trading at 99.98 with a high of 100.45 and a low of 99.76 so far.

The NIKKEI closed at 14562.90 down 168.35 or minus 1.14%

European markets are watching for Great Britain’s GDP figures and Economic Sentiment Survey results out of Germany. British economic figures are expected to expand at a good rate, with eyes on 0.6% expansion, which would double the previous quarter’s result. Spanish unemployment figures showed a slight improvement and have reduced from 27.2% to a 26.3% three month moving average. CABLE was trading at 1.5384 with a high of 1.5385 and a low of 1.5305 so far.

The FTSE100 closed at 6600.98 down 19.45 or minus 0.29% while the DAX closed at 8328.00 down 51.11 or minus 0.61%

US Jobless claims and Durable goods figures will be released this afternoon. Durable goods figures are expected to decrease from 3.7% to 1.2% while the jobless claims are expected to rise to 340k from 334k. Detroit bankruptcy is the biggest such case to ever be filed in the US at $18.6 billion. The city planners will have a lot to do to rebuild the city which was once a major employment hub, but has since deteriorated significantly as a result of the auto industry in the US suffering to their Asian and European counterparts over time. The EUR/USD was trading at 1.3211 with a high of 1.3236 and a low of 1.3187 so far.

The DOW closed at 15542.20 down 25.50 or minus 0.16%

Have a nice day.