29.08.14

Good morning,

Japanese household spending fell more than had been expected; spending fell 5.9% in July from a year earlier, nearly double the forecast. USDJPY was trading at 103.79 at time of writing. Housing Starts were also down by more than had been expected. Looking ahead to next week Chinese & Japanese Manufacturing Purchasing Manager Index figures are due out. Next week we will see the Reserve Bank of Australia’s Interest Rate decision.

The NIKKEI was trading at 15424.59 down 35.27 points, or minus 0.23%

European markets this morning saw disappointing German Retail Sales figures, up just 0.7% year on year when a 1.5% increase had been forecast. Euro continues to weaken with Wednesday’s year low in reach once more. Currently EURUSD is trading for 1.3164, just nine pips off the year’s low. German GDP is out on Monday. Today, the Euro Zone Consumer Price Index for August is due out, along with the unemployment rate for the economic area. Expected to remain unchanged at 11.5%

The FTSE100 closed at 6805.80 down 24.86 points, or minus 0.36% while the DAX closed at 9462.56 down 107.15 points for the day, a decline of 1.12%

US markets will see Personal Expenditure figures released this session. Canadian Gross Domestic Product figures are also set to be released with an expected 2.7% growth overall, up from 1.2% for the second quarter last year. USDCAD was trading at 1.0849 at time of writing. GOLD was trading $1288 per ounce. USOIL will cost you $94.92 per barrel at time of writing.

The DOW closed at 17079.57 down 42.44 points, a drop of 0.25%

Hope you all have a nice weekend.