This week has seen sterling weaken against the majority of currencies amid concerns that we could see further quantitative easing above the £50 billion announced at the start of February. The Bank of England’s minutes released this week showed that two of its members voted for the injection of £75 billion. On a more positive note, public sector net borrowing figures released at the start of the week suggest that the UK will beat its own targets to cut the national deficit this year. Out today the market will look towards the revised GDP data to provide some clarity on the state of the UK economy. Call in now for the latest update and the latest news.

In Europe, early on Tuesday morning the second Greek bailout was finally agreed bringing some respite to European markets as it appears Greece will avoid defaulting in the near term at least. Yesterday saw stronger than expected Germany Information and Forschung (IFO) data released demonstrating the feeling that the German economy will remain strong despite the ongoing problems in Europe. Moreover, the Greek parliament has taken its first step towards securing the now agreed €130 billion bailout by signing off on the bond swap agreement for private investors which is due to start today. Call in now for the latest update and the latest news.

In the US, there has not been a great deal of data released this week; however, the release of unemployment claims data yesterday showed that the number of individuals who filed for unemployment insurance for the first time during the past week was at the lowest since March 2008. Housing data released yesterday also beat estimates reaffirming that the recovery in the US is starting to pick up pace. Out today the main release out of the US is the new home sales figures. Call in now for the latest update and the latest news.

Elsewhere, the main news our this week came from China, where the central bank has cut the reserve requirement ratio to boost lending and manufacturing. Purchasing Managers Index (PMI ) figures released showed a contraction for the fourth straight month providing further suggestion that the Chinese economy is slowing down. In Australia the central bank’s minutes showed that the bank would still consider cutting interest rates if demand conditions weakened despite keeping the rate being kept on hold at 4.25% the week before. Call in now for the latest update and the latest news.

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