25.09.14

Good morning,

Overnight the Oceania currencies dropped against their main counterparts. NZDUSD is currently trading at 0.7954 for a fresh yearly low this session of 0.7945. AUDUSD is trading at 0.8809, the lowest level since February following Reserve Bank of New Zealand Governor Graeme Wheeler saying he’s prepared to sell the nation’s currency to weaken it, saying the kiwi’s current level is unjustified and unsustainable. Japanese Consumer Price data is out in the next 24 hours.

The NIKKEI was trading at 16374.14 up 206.69 points, or a gain of 1.28%

Europe will today see data from Italian Retail Sales and Wage Inflation figures for July and August respectively. Euro Zone Money Supply and Private Loans figures are released for August. However EURUSD is trading at 1.2732 a level not seen since November 2012 Tomorrow we will see some German figures including the Gfk Confidences Survey, and Import Price Index data. ECB President Mario Draghi expects the euro zone to grow modestly in the second half of the year, however he also warned that heightened geopolitical tensions could dampen business and consumer confidence. Bank of England’s Mark Carney is scheduled to speak this session. EURGBP is currently trading at 0.7796, a fresh yearly low, and a level not seen since July 2012

The FTSE100 was trading at 6708.02 while the DAX was trading at 9687.34

The main US figures today will include the Durable Good s Orders for August, Initial Jobless and Continuing Jobless figures. Positive readings could push the EURUSD rate to test lower. Markit PMI preliminary figures for September are also out this session. USDCAD is trading at 1.1102 at time of writing. American GDP figures are due out tomorrow and the second quarter reading is expected in a t 4.5%

The DOW closed at 17210.06 for a gain of 154.19 points, up 0.90%

Hope you all have a good day.