Sterling held its own against the euro and the commodity backed currencies yesterday; whilst weakening slightly against the US dollar and Japanese yen as risk aversion drove the market. Public sector net borrowing figures and the Bank of England’s inflation report hearing will be the main news on the UK’s economic calendar today. Both have caused volatility in the past; so, call in now for the latest news and a live quote.
The euro traded in a similar fashion to sterling yesterday holding its own the commodity back currencies, but, was weak against the US dollar and the Japanese yen. Spain officially announced that it was requesting a bailout for its banking sector yesterday; however, the amount has yet to be specified which caused Spanish bond yields to push higher. Cyprus also announced that it will seek a bailout to aid its failing economy; but, again no specifics surrounding the amount have been revealed. More bad news came as the Greek finance minister resigned just 4 days into the job due to health issues; causing issues for the newly formed coalition Government as they seek to renegotiate the terms of their bailout package. German consumer climate data is the only news of note today with the markets tentative before the EU economic summit on Thursday and news from Spain and Greece shifting the markets sentiment. Call in now for the latest news and a live quote.
The US dollar performed well yesterday due to investors looking for a safer haven to lodge their money as risk aversion dominated the market. New home sales data released yesterday was positive, posting a much better than expected value and was the only significant data released globally. The main data on the agenda today is the monthly consumer confidence figures; so, call in now for the latest news and a live quote.
Elsewhere, the Japanese yen was one of the stand out performers yesterday strengthening due to its safe haven status; whilst the commodity backed currencies were particularly weak. The Indian rupee also performed fairly well due to its central bank increasing the amount of rupee-denominated government bonds that can be owned by overseas investors by US$5 billion after weakening to historic lows against a range of currencies last week. With very little data out today, the market will look elsewhere for influence; so, 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 similar fashion to sterling yesterday holding its own the commodity back currencies, but, was weak against the US dollar and the Japanese yen. Spain officially announced that it was requesting a bailout for its banking sector yesterday; however, the amount has yet to be specified which caused Spanish bond yields to push higher. Cyprus also announced that it will seek a bailout to aid its failing economy; but, again no specifics surrounding the amount have been revealed. More bad news came as the Greek finance minister resigned just 4 days into the job due to health issues; causing issues for the newly formed coalition Government as they seek to renegotiate the terms of their bailout package. German consumer climate data is the only news of note today with the markets tentative before the EU economic summit on Thursday and news from Spain and Greece shifting the markets sentiment. Call in now for the latest news and a live quote.
The US dollar performed well yesterday due to investors looking for a safer haven to lodge their money as risk aversion dominated the market. New home sales data released yesterday was positive, posting a much better than expected value and was the only significant data released globally. The main data on the agenda today is the monthly consumer confidence figures; so, call in now for the latest news and a live quote.
Elsewhere, the Japanese yen was one of the stand out performers yesterday strengthening due to its safe haven status; whilst the commodity backed currencies were particularly weak. The Indian rupee also performed fairly well due to its central bank increasing the amount of rupee-denominated government bonds that can be owned by overseas investors by US$5 billion after weakening to historic lows against a range of currencies last week. With very little data out today, the market will look elsewhere for influence; so, 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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