Sterling strengthened to fresh highs against the commodity backed currencies as risk aversion drove the market; whilst staying moderately range bound against the euro and weakening off against the US dollar. On the data front, housing price balance data was weaker than expected dropping to a six month low. With very little data out of the UK today, the market will look elsewhere for influence whilst looking toward the Bank of England’s rate decision on Thursday. With the UK still in a technical recession, we will have to see how long it's “safe-haven” status against the European nations can last. Call in now for a live quote and the latest update.
The euro traded in a fairly similar trend to sterling today, weakening against the US dollar whilst strengthening against the commodity backed currencies as market fears in Europe have calmed to an extent. Data released today showed German industrial production rose by more than expected; however, the market is still trying to absorb the potential effects that the Greek and French election result could have on the Eurozone going forwards. German and French trade balance data is released today; but, the market will pay much closer attention to the developments in Greece as the left wing Syriza bloc party try to form a coalition who would then plan to tear up the ‘EU austerity deal’; call in now for the latest news and a live quote.
The US dollar performed well today as risk aversion drove the market strengthening against the majority of currencies. Out today, the main releases on the agenda will be the crude oil inventories, the bench mark 10 year bond auction and a member of the Federal Open Market Committee (FOMC) is also speaking. Call in now for the latest update and a live quote.
Elsewhere, the Japanese yen was strong today with investors flocking to “safe haven” currencies. The Australian and New Zealand dollar have been extremely weak today as the markets sell off positions in “riskier” currencies and Australia posted its largest trade balance deficit in more than two years. Canadian housing starts also showed an improvement this month. The Reserve Bank of New Zealand’s financial stability report was released late last night; but, very little other data is released today. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro traded in a fairly similar trend to sterling today, weakening against the US dollar whilst strengthening against the commodity backed currencies as market fears in Europe have calmed to an extent. Data released today showed German industrial production rose by more than expected; however, the market is still trying to absorb the potential effects that the Greek and French election result could have on the Eurozone going forwards. German and French trade balance data is released today; but, the market will pay much closer attention to the developments in Greece as the left wing Syriza bloc party try to form a coalition who would then plan to tear up the ‘EU austerity deal’; call in now for the latest news and a live quote.
The US dollar performed well today as risk aversion drove the market strengthening against the majority of currencies. Out today, the main releases on the agenda will be the crude oil inventories, the bench mark 10 year bond auction and a member of the Federal Open Market Committee (FOMC) is also speaking. Call in now for the latest update and a live quote.
Elsewhere, the Japanese yen was strong today with investors flocking to “safe haven” currencies. The Australian and New Zealand dollar have been extremely weak today as the markets sell off positions in “riskier” currencies and Australia posted its largest trade balance deficit in more than two years. Canadian housing starts also showed an improvement this month. The Reserve Bank of New Zealand’s financial stability report was released late last night; but, very little other data is released today. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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