Sterling started the day weak against the euro following the bailout of the Spanish banks over the weekend; but, strengthened throughout the day ending above the 1.24 mark. The main release on the global economic agenda today is the UK's monthly manufacturing production figures which have caused volatility in the past due to its clear indication of economic strength; so, call in now for the latest news and a live quote.
The euro started the day strong against the majority of currencies; but, weakened throughout the day as investors were left unimpressed by the details surrounding the €100 billion Spanish bail out. Worries that Italy could potentially need a bailout as well (the total debt in Italy is more than twice Spain’s) started to take centre stage today with both Italian and Spanish bond yields rising throughout the afternoon. On a slightly more positive note, French monthly industrial production figures were much better than expected; but, this did little to boost investors' confidence. It is another quiet day on the data front today as the markets look for news from Spain, Italy and Greece for influence; so, call in now for the latest news and a live quote.
The US dollar opened down against the majority of currencies following the weekend’s events; but, strengthened due to its safe haven status as the day progressed. With very little data released in the US today, the markets will focus on the data released in the UK and any developments in Europe; so, call in now for the latest update and a live quote.
Elsewhere, following the positive Chinese trade balance data released on Sunday, more positive news from released yesterday in the form of new loans figures and money supply data from helped strengthen the Australian and New Zealand dollar. The governor of the Bank of Japan was speaking early this morning; furthermore, Japanese industry activity data and Australian business confidence figures were also released. 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 started the day strong against the majority of currencies; but, weakened throughout the day as investors were left unimpressed by the details surrounding the €100 billion Spanish bail out. Worries that Italy could potentially need a bailout as well (the total debt in Italy is more than twice Spain’s) started to take centre stage today with both Italian and Spanish bond yields rising throughout the afternoon. On a slightly more positive note, French monthly industrial production figures were much better than expected; but, this did little to boost investors' confidence. It is another quiet day on the data front today as the markets look for news from Spain, Italy and Greece for influence; so, call in now for the latest news and a live quote.
The US dollar opened down against the majority of currencies following the weekend’s events; but, strengthened due to its safe haven status as the day progressed. With very little data released in the US today, the markets will focus on the data released in the UK and any developments in Europe; so, call in now for the latest update and a live quote.
Elsewhere, following the positive Chinese trade balance data released on Sunday, more positive news from released yesterday in the form of new loans figures and money supply data from helped strengthen the Australian and New Zealand dollar. The governor of the Bank of Japan was speaking early this morning; furthermore, Japanese industry activity data and Australian business confidence figures were also released. 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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