30.07.13

Chinese markets received a cash injection from the central bank on Tuesday. The Japanese Industrial Output fell at the fastest rate for over two years in June, but this is due to an intentional slow down to prevent the buildup of inventory. Employment is picking up, and availability of jobs is at the highest point they have been at in five years. Reserve Bank of Australia Governor, Glenn Stevens, is expected to lower benchmark rates in the coming 12 months according to economists. The AUD is down 12% over the last 3 months, trading against the USD at 0.9064 with a high of 0.9225 and a low of 0.9051 so far.

The NIKKEI closed at 13869.80 up 208.69 or 1.53%

European Commission Economic Sentiment survey results are out today with a 92.6 figure expected, up from 91.3. Greece has been given a further 1.6 billion euros in aid by the IMF after adopting legislation required as a condition of receiving the bailout payment. Greek unemployment remains high and further cuts in public spending are part of the conditions relating to the bailout plan. Italian Prime Minister has criticized the handling of Greece’s bailout, saying the austerity imposed has deepened the recession and worsened unemployment in Europe. EUR/USD was trading at 1.3269 with a high of 1.3271 and a low of 1.3246 so far. ECB and BoE rates will be out later in the week.

The FTSE100 closed at 6573.03 up 12.78 points or 0.19% while the DAX closed at 8291.82 up 32.79 or 0.40%

The two day FOMC meeting begins in Washington today, and a statement following the meeting is released tomorrow. Non-farm payrolls are out on Friday, but today will probably be a quiet day in the markets ahead of all the data to come late in the week. Gold (XAUUSD) was trading at 1320 dollars per ounce, while USD/JPY was trading at 98.20 with a high of 98.45 and a low of 97.84 so far.

The DOW closed at 15522.00 down 36.86 points or minus 0.24%

Have a nice day.