USD/JPY trades at four-year high; all eyes on UK trade balance data

<p>- USD/JPY was trading at 101 today, its highest peak in four years. – Japanese investors are purchasing more foreign assets and traders are setting […]</p>

The video cannot be shown at the moment. Please try again later.

- USD/JPY was trading at 101 today, its highest peak in four years.

- Japanese investors are purchasing more foreign assets and traders are setting their targets on 101.45 after stop losses below 100 were triggered. The Nikkei closed the day at 14,607.

- Elsewhere, GBP/JPY is trading at 156.17; cable is trading at 1.5428 and GBP/EUR at 1.1847.

- Back in the UK, the top stocks for the day so far are BT, up 9% at 299p after the company revealed positive full year results and raised its outlook. Other top stocks include Shire, up 5% at 2042p and Evraz, up 2% at 175p.

- European stock indices reached five-year highs, supported by central bank stimulus. ArcelorMittal climbed 6% and ThyssenKrupp rose 2% to 15.38.

- In the US, the top stocks for the day included 3M Co at $109.92 and Merck & Co $at 45.5.

- The FTSE was currently trading at 6592, the DAX at 8278 and Wall Street at 15,105.

- Gold is trading at $1456 today and oil at $95.81.

- Looking ahead, key economic data for the day includes the first day of the G7 meetings at UK trade balance data at 9.30am GMT. Also keep an eye out for a speech from FOMC member Evans at 1.25pm, followed by a speech by Fed Chairman Ben Bernanke at 2.30pm and FOMC member George at 7pm.

Join our live webinars for the latest analysis and trading ideas. Register now

GAIN Capital UK Limited (trading as “City Index”) is an execution-only service provider. This material, whether or not it states any opinions, is for general information purposes only and it does not take into account your personal circumstances or objectives. This material has been prepared using the thoughts and opinions of the author and these may change. However, City Index does not plan to provide further updates to any material once published and it is not under any obligation to keep this material up to date. This material is short term in nature and may only relate to facts and circumstances existing at a specific time or day. Nothing in this material is (or should be considered to be) financial, investment, legal, tax or other advice and no reliance should be placed on it.

No opinion given in this material constitutes a recommendation by City Index or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although City Index is not specifically prevented from dealing before providing this material, City Index does not seek to take advantage of the material prior to its dissemination. This material is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

For further details see our full non-independent research disclaimer and quarterly summary.