Yen weakens against US dollar; traders eye UK CPI data
Trading Floor News August 13, 2013 2:03 PM
<p>The Dow closed down just five points yesterday and finished at 15419 largely thanks to Caterpillar rising 2.14% as investors began to see value in […]</p>
The video cannot be shown at the moment. Please try again later.
The Dow closed down just five points yesterday and finished at 15419 largely thanks to Caterpillar rising 2.14% as investors began to see value in the share price after it was pushed lower on weak results announced last month.
Overnight, the yen has continued to weaken against the dollar and this has pushed Asian markets higher, with the Nikkei closing up 347 points at 13867.
The FTSE is up 28 points and the Dax is also trading up 57 points versus yesterday’s close.
The biggest riser on the FTSE is Resolution Ltd, who announced that they have made a profit of £191m in the first half of the year, which was higher than analyst expectations.
Old Mutual is the biggest loser of the session so far but has moved up since the opening bell and is now trading at 196.5p.
The main news announcements to watch out for today are UK CPI figures at 9.30am BST, German ZEW economic sentiment at 10am and finally retail sales figures from the states at 1.30pm BST.
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.