During today’s early trading session, the Nikkei retreated from its 15 year high as investors made gains off increased share prices, however, losses were limited as China released positive data showing that the HSBC Manufacturing PMI was better than expected .

During the European session, the Euro is trading cautiously against the Dollar despite Greece’s approved 4 month debt bailout extension. The European Central bank stated that Athens resolution to the debt plan are not detailed enough to secure future bailout agreements. European stocks are slightly down, but remain supported with low trade volume after the approval of the Greece’s debt deal.

During early U.S. trade, the Dollar continues to trade lower against a basket of major currencies following Janet Yellen’s testimony. Yellen stated that an interest rate hike may be delayed until after “the next couple of FOMC meetings”, investors had expected a rate hike in mid 2015. The second part of the testimony is currently going on, and so we may see higher volatility in the markets as Yellen continues to testify.

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During today’s early trading session, Asian markets traded higher as the Yen weakened against a basket of major currencies. Weak data from Japan and a dip in oil prices this morning have contributed to the decline of the JPY and in turn drove investors towards the stock market.

During the European session, the Euro was trading steady against the Dollar and slightly up against the Yen, as important economic data remained unchanged. The German GDP and the European CPI showed as expected figures. European Central Bank President Mario Draghi is currently speaking and therefore we may witness higher volatility as traders listen closely to hints on future monetary policy. European stocks are little changed as investors continue to keep their eye on the current situation in Greece.

During early US trade, the Dollar remains supported against a basket of major currencies, although trading with little volatility as market spectators await Federal Reserve Chair Janet Yellen’s testimony. High volatility in the markets is usually seen during the second part of the assembly, as the committee holds a question and answer session. Traders will scope her words for any clues on future monetary policy. Later this evening the Reserve Bank of New Zealand’s Governor Graeme Wheeler will be speaking about the country’s current economy and future outlook.

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During today’s early trading session, Asian markets traded higher after the release of Japanese data showing a positive trade balance and increased exports. During the BoJ monthly report, officials indicated mild concerns over the future outlook of the economy and the weakening Yen, and in turn drove investors towards the stock market. The Nikkei share average reached a fresh 15 year high, and was up by 0.37% closing at 18,322. Asian markets are today closed due to the Chinese and Lunar New Year.

During the European session, the Euro continued to trade lower, and has reached its lowest level in ten days against the Dollar. This decline came as Germany released a number of negative economic reports.

During early US trade the Dollar Index is trading cautiously after policy makers on Wednesday stated on that rate hikes will be delayed till later in the year, furthermore, mixed US data released yesterday showed that the Philadelphia Federal Reserve Manufacturing Index was significantly lower than the expected figure of 9.3, on the other hand the number of individuals who filed for unemployment insurance for the first time during the past week dropped to 283,000. Following the release of data from Canada, the CAD dropped against a basket of major currencies. 

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During today’s early trading session, Asian markets traded higher following gains in financial stocks, furthermore, Sony profited off the back of a concrete business plan. Following the FOMC Meeting Minutes and a number of positive reports from Japan, the Yen strengthened against the Dollar. Fed officials stated that there will be a short delay in raising interest rates this year, furthermore, Japanese data showed that Trade balance and exports came out better than expected. The yen is currently trading lower against the Dollar as the price rebounded after the BoJ monthly report which indicated mild concerns over the future outlook of the economy.

During the European session, the Euro is trading lower against the Dollar after yesterday’s gains following the FOMC meeting minutes. The Euro weakened today after negative reports from France added to current concerns regarding the European economy. The French CPI, monthly and yearly HICP all showed lower than expected figures. Currency traders now await a number of economic events to be released tomorrow, including, the German Manufacturing PMI and PPI, the European Market Composite PMI and Service PMI and the British Retail sales for the month of January.

During today’s early U.S. session, American stocks traded lower as concerns over Greece continued to dominate the markets. The current €240 billion debt bailout is due to expire on February 28th, if an extension is not reached by that date, it could cause the nations exit from the European Union. 

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During today’s early trading session, Asian markets traded higher following the Bank of Japan’s press conference. BoJ officials upgraded its assessment of exports and factory output due to the weaker Yen. The Yen was little changed against a basket of major currencies after the BoJ voted to keep interest rates unchanged as the Japanese economy is expected to continue to make a moderate economic recovery. Japan is to release a number of economic reports later this evening, including the adjusted Trade balance and yearly Exports.

During the European session, the British Pound rallied against the Dollar after a number of strong economic reports.

During today’s early US session, the Dollar traded cautiously against a basket of major currencies due to the ongoing debt situation in Greece. Greece is expected to reach a deal before the current bailout expires on February 28th. Furthermore, a number of negative economic reports were released at the open of the US session, including new Building Permits and the Producer Price Index showed a decline of -0.8%, the expected figure was a decline of -0.4%. American stocks are trading lower ahead of the FOMC meeting minutes later today.

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