Morning Update – 14/07/2017 – by Arjun Lakhanpal

Morning all.. Wall St had a quiet session with the S&P closing up 0.19% and the NASDAQ up 0.21%. Markets were quiet in Asia as well as most now wait for major data from the US later and the Nikkei closed up 0.1(% whilst HK fell marginally. Shares in Japan, Australia and South Korea advanced at the end of a week characterized by dovish comments from U.S. policy makers that also weighed on the dollar. The yield on 10-year Treasuries remained down for the week, at 2.35 percent. The yen weakened, though was still in line for its first weekly gain in five trading at 113.40. U.S. consumer inflation due later Friday will be scrutinized as Yellen said it’s premature to conclude that the underlying trend of prices is falling short of the Fed’s 2 percent target. Investors also get clues on how choppy data during the second quarter translated into corporate earnings when JPMorgan Chase & Co., Wells Fargo & Co. and Citigroup Inc. report results. U.S. retail sales and industrial production figures are also due. EUR remains soft as Mario Draghi will attend this year’s U.S. Federal Reserve symposium in Jackson Hole, opening the possibility that he could send a message on the European Central Bank’s bond-buying program as the euro area becomes less reliant on stimulus but some suggest after a more dovish Yellen, he steps back from being more open to tapering. Oil and gold were quiet. UK Brexit Minister Joyce Anelay (written statement Parliament): UK acknowledges for first time on paper it must pay money to EU as it withdraws from the bloc in attempt to avert Brexit talks clash but GBP unmoved so far on this. Reuters sources: Trump administration is frustrated China has not done more to rein in N. Korea; could impose new sanctions on small Chinese banks and other firms that do business with N. Korea within weeks. This morning we get Italian CPI, EU trade balance but we all are waiting for CPI and Retail sales from the US later.. Good luck.