09.12.16

Good morning,

Asian markets are seeing a rally in the indices with the JPN225 Index printing yearly highs, breaching the 19000 level. New Zealand Electronic Card Retail Sales were up by 5.1% year on year, from 4.2% printed last November. NZDUSD trading at 0.7179 at time of writing. Australian Home Loans figures were down, but not by as much as had been expected. Investment Lending for Homes was also slowing down. AUDUSD trading at 0.7470 at time of writing.

In Europe this morning the Swiss Unemployment Rate remained unchanged at just 3.3% USDCHF trading at 1.0159 at time of writing. German Trade Balance figures see Imports rising, while Exports didn't grow as much as had been expected. This coupled with European Central Bank President Mario Draghi's press conference weighed on the common currency. EURUSD trading at 1.0618 at time of writing. British Trade Balances and Consumer Inflation Expectations figures will be out later this session.

A quiet end to the week Stateside with few data releases scheduled for today. Michigan Consumer Sentiment Index figures for December along with Wholesale Inventories from October. The Baker Hughes US Oil Rig Count could have a bearing on USOIL prices, which was trading at $51.21 per barrel at time of writing. Next Wednesday will see Retail Sales figures followed by the Federal Reserve Interest Rate Decision. Chair Janet Yellen will deliver an important Monetary Policy Statement as the markets have built up expectations of a rate increase.

I hope you all have a nice weekend.