Summary of Overnight Information:
? The FTSE-100 may open sharply higher this morning next last night’s sturdy gains in Brand new York, as dovish comments by Fed chairman Ben Bernanke and sliding oil prices allowed buyers to put the crisis in the particular Middle East to be able to one side and set a bit regarding blue on this monitors to match the particular skies outside.
? US ALL stocks surged higher on Wall Streets yesterday after Government Reserve Chairman Bill Bernanke reassured typically the market with his see that economic progress seems to become moderating and pumpiing remains contained, investors noted.
? ‘Clearly all of us don’t want to be able to tighten too much to be able to cause our economic climate to grow slower than its potential, ‘ Bernanke stated during questioning prior to the Senate Banking Panel.
? Investors interpreted Bernanke’s testimony as a sign the Provided is close in order to ending its ability of interest level hikes, dealers additional.
? The DJIA shut down 212. 19 points higher at 11, 011. 42, its best performance of 2006, while the particular Nasdaq ended up 37. 49 factors at 2, 080. 71.
UNITED STATES OF AMERICA
Statistics out Today:
thirteen: 30 US unemployed claims (w/e 15/7) k Prev 332
13: 30 FLORIDA wholesale sales (May) %m/m Prev 0. 1
15: 00 US leading signals (Jun) % Prev -0. 6
18: 00 US Philadelphia Fed (Jul) Prev 13. 1
19: 00 US Minutes of 29 Jun FOMC Meeting
? Last night? s 0. 3% rise in the US June primary CPI tipped typically the balance to another 25bp rate walk on 8 September. But a much less hawkish than predicted and fairly noncommittal testimony from Chairman Bernanke added a new fraction more halving towards the chance associated with an imminent price hike, with the focus seemingly read more about the particular longer term influence on inflation from moderating growth. His accounts, which gave strong boost to US ALL and European discuss prices and Treasury bonds, came since the Fed released predictions suggesting that this is ready to provide US inflation down gradually, to minimise the damage in order to the real economy.
Understands These days:
09: 30 Store sales (Jun) %m/m Exp 0. a couple of Prev 0. 5
09: 30 Retail store sales (Jun) %y/y Exp 2 . 7 Prev 4. zero
09: 30 PSNB (Jun)? m Experience 7000 Prev 6583
09: 30 PSNCR (Jun)? m Experience 13000 Prev 16246
? UK retail sales (09: 30) usually are forecast to possess stinging up during Summer, by around 0. 2%. Overall, the particular quarterly performance regarding the retail industry should have improved considerably in Q2 which should underpin down the road? Forex signals Telegram with regard to GDP, expected in order to have grown zero. 7% in Q2, inline with the MPC? s key projection.
Figures out Today:
summer: 00 JN BoJ Monetary Policy Moments
EURUSD @ just one. 2590 GBPUSD @ 1. 8435 GBPEUR @ one 4640 USDJPY @ 116. 85