During today’s early trading session, the Nikkei reached 17,979, a 1.9% increase, its highest level in 7 and a half years. This rally came after Japanese data showed that yearly and monthly Core Machinery Orders had risen more than expected. Over the past year the Yen has continued to weaken and in turn boosted exporters such as Toyota and Sony. Following the release of the Australian Employment Change the AUD weakened against a basket of currencies after the report showed a decline of 12.2k.
During the European trading session, the British pound rallied against the Dollar after positive reports from the UK The Bank of England Governor Mark Carney, stated today “it is now more likely that CPI inflation will dip briefly below zero at some point in the first half of 2015”, but pointed out that there was “no threat of deflation”. Carney also said, “The take-home pay is expected to grow at its fastest pace in a decade”.
During early US trade the Dollar index dropped to 11,836 after negative data. The US Core Retail sales, Retail Sales and Jobless claims all showed worse than expected results. The number of individuals who filed for unemployment during the past week showed 304,000, above the expected figure of 285,000 and Retail sales dropped 0.8%. The Euro remains steady against the Dollar after no compromise has yet been reached in regards to the extension of the current bailout agreement.
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