Summary of Overnight News:
? The FTSE-100 may open sharply increased this morning next last night’s sturdy gains in Brand new York, as dovish comments by Given chairman Ben He and sliding olive oil prices allowed buyers to put typically the crisis in the particular Middle East to be able to one side make a bit of blue on this monitors to match the skies outside.

? US ALL stocks surged larger on Wall Road yesterday evening after Federal Reserve Chairman Ben Bernanke reassured typically the market along with his view that economic development seems to be moderating and inflation remains contained, traders noted.

? ‘Clearly we don’t want in order to tighten an excessive amount of in order to cause our economic climate to grow slower than its potential, ‘ Bernanke said during questioning prior to the Senate Banking Committee.
? Investors interpreted Bernanke’s testimony as a new sign the Given is close in order to ending its ability of interest rate hikes, dealers additional.
? The DJIA shut 212. 19 factors higher at 10, 011. 42, the best performance of 2006, while the Nasdaq ended upward 37. 49 factors at 2, 080. 71.

USA

Numbers out Today:
thirteen: 30 US unemployed claims (w/e 15/7) k Prev 332
13: 30 CA wholesale sales (May) %m/m Prev zero. 1
15: 00 US leading indications (Jun) % Prev -0. 6
seventeen: 00 US Philadelphia Fed (Jul) Prev 13. 1
nineteen: 00 US Moments of 29 Jun FOMC Meeting

? Yesterday? s 0. 3% rise in typically the US June core CPI tipped typically the balance to another 25bp rate hike on 8 September. But a less hawkish than predicted and fairly noncommittal testimony from Chairman Bernanke added a fraction more unconformity towards the chance of an imminent rate hike, with all the emphasis seemingly read more about the longer term influence on inflation from moderating growth. Blockchain Services , which gave sturdy boost to US and European discuss prices and Treasury bonds, came as the Fed released forecasts suggesting that this is willing to bring US inflation straight down gradually, to minimise the damage to the real overall economy.

UK

Understands Nowadays:
09: 30 Store sales (Jun) %m/m Exp 0. 2 Prev 0. a few
09: 30 Retail sales (Jun) %y/y Exp 2 . not 7 Prev 4. 0
09: 30 PSNB (Jun)? m Experience 7000 Prev 6583
09: 30 PSNCR (Jun)? m Experience 13000 Prev 16246
? UK retail revenue (09: 30) usually are forecast to possess stinging up during 06, by around 0. 2%. Overall, the particular quarterly performance of the retail industry should have enhanced considerably in Q2 that ought to underpin down the road? s release with regard to GDP, expected to have grown zero. 7% in Q2, inline with the particular MPC? s key projection.

Japan

Figures out Today:
summer: 00 JN BoJ Monetary Policy Mins
EURUSD @ 1. 2590 GBPUSD @ 1. 8435 GBPEUR @ 1 ) 4640 USDJPY @ 116. 85

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