Jul 22


  • BY: Nati
  • July, 22nd, 2013 7:51 +00:00

Japanese elections yesterday saw Prime Minister Abe’s party fail to win an independent majority in the upper-house. The JPY gained against the USD and other major currency. Japanese Trade Balance figures will come out tomorrow night, followed by Australian Consumer Price Index figures. The USD/JPY was trading at 99.89 with a high of 100.62 and a low of 99.60 so far. AUD/USD was trading at 0.9215 with a high of 0.9233 and a low of 0.9172 so far.

The NIKKEI closed at 14658.00 up 68.13 or 0.47%

Looking ahead to German elections in September, opposition leader Peer Steinbrueck has said Angela Merkel has tried to hide the effect the Greek debt might have on German taxpayers. Merkel is ahead in the polls in these early stages of the campaign leading up to the September 22nd election. Figures released this week include German and French PMI, and the United Kingdom GDP figures. CABLE was trading at 1.5283 with a high of 1.5296 and a low of 1.5258 so far.

The FTSE100 closed at 6628.10 down 2.57 points or minus just 0.04% while the DAX closed at 8344.04 up 12.47 points or 0.15%

The city of Detroit declared bankruptcy last week following years of decline and a period where the population of the city dropped by over 50% from its peak. It has emerged that a bailout is unlikely. Creditors are owed USD 18 billion. Metals traders are on alert this week following news that the US Commodity Futures Trading Commission sent letters to trading firms ordering them to preserve emails, documents and instant messages going back three years. EUR/USD was trading at 1.3156 with a high of 1.3169 and a low of 1.3135 so far.

The DOW closed at 15543.70 down just 4.80 points or minus 0.03%

Have a nice day.