Sterling had a mixed day on Friday as it weakened off significantly against the US dollar and marginally strengthened against the euro. A mix of data released on Friday showed worse than expected figures from the manufacturing sector, whilst the change in the price of goods and raw materials grew more than anticipated. The main news out of the UK this week is the change in the number of people claiming unemployment benefits during the previous month so call in now for the latest update and the latest news.

The euro had a poor day on Friday weakening off against the majority of currencies despite the debt swap for Greece being confirmed in the early hours of the morning. Despite the debt swap being approved, Moody’s (one of the three biggest credit rating agency) said that is considers Greece to have defaulted due to the debt swap being a "distressed exchange". The euro zone finance ministers will meet today to discuss the final approval for Greece’s second bailout. There is not much data released this week; but, the markets have the potential to move very fast with any news released concerning Greece; so call in now for the latest news and a live quote.

The US dollar strengthened significantly against both the euro and sterling on Friday as the non-farm employment change figures were better than expected further boosting the positive sentiment of a labour led US economic recovery. Worse than expected trade balance figures were also released at the same time but were overshadowed by the positive employment data. There a raft of data released in the US this week, all of which have the potential to create volatility in the market so call in now for the latest update and the latest news.

Elsewhere, China released figures for last month depicting the country’s largest trade deficit in the past 22 years paving the way for a potential interest rate cut in the near future. There was an unexpected decline in the employment change figures out of Canada suggesting that the road to economic recovery will be a lot slower that in the neighbouring US. The official bank rate for Japan and Switzerland will be announced this week. Any change in the interest rate levels to those anticipated will cause a great deal of volatility. Call in now for the latest update and the latest news.



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