Jul 23
Yesterday – notes Greg Secker – the FTSE closed up 12 points at 4,493 and gained resistance on the key level of 4,500. The Dow closed down 34 points at 8,881. In forex news the yen weakened against the euro after 3 days of rises as investors chased higher yielding assets. The benchmark interest rate is 0.1% in Japan compared to 2.5% in New Zealand and 3.0% in Australia. Risk appetite has been fuelled by the eight day of rises in equities. In data releases today there is the GBP retail sales figure at 9.30am. USD unemployment claims at 1.30pm and then existing home sales at 3.00pm. At 3.30pm there is the CAD BOC monetary policy report.
