Sterling had a strong day today reaching fresh 3.5 year highs of €1.2765/£1 against the euro whilst performing relatively well against the majority of other currencies despite the IMF downgrading the UK’s growth forecast in 2012 from 0.8% to 0.2%. Inflation data in the form of Consumer Price Index (CPI) figures is released today which is expected to show a figure of 2.8% matching last month's change, whilst the Governor of the Bank of England is also speaking. Call in now for the latest news and a live quote.
The euro had a relatively poor day reaching new lows against sterling and dipping back below the 1.22 level against the US dollar before recovering in the afternoon. The euro weakened as a report suggested that the European Central Bank may be changing their mind on the seniority of debt, meaning that senior bank debt holders should now share in any losses that may occur which is the opposite to what was implied a few weeks ago. German business climate sentiment and (ZEW) economic sentiment data will be the main data released today; so, call in now for the latest news and a live quote.
The US dollar started the day fairly strong before weakening in the afternoon as core retail sales and retail sales figures missed expectations dropping by 0.4% and 0.5% respectively when small gains had been anticipated. Core CPI data is the main news on the agenda today whilst the Chairman of the Federal Reserve Bank is also speaking. Call in now for a live quote and the latest update.
Elsewhere, the Japanese yen was the best performing currency yesterday strengthening against all the major currencies as risk aversion was the main driver in the market despite the Japanese markets being shut for a bank holiday, whilst the Swedish krona was one of the worst performers. Early this morning, minutes from the latest Australian monetary policy meeting were released and this afternoon the Bank of Canada is expected to keep interest rates on hold. 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 had a relatively poor day reaching new lows against sterling and dipping back below the 1.22 level against the US dollar before recovering in the afternoon. The euro weakened as a report suggested that the European Central Bank may be changing their mind on the seniority of debt, meaning that senior bank debt holders should now share in any losses that may occur which is the opposite to what was implied a few weeks ago. German business climate sentiment and (ZEW) economic sentiment data will be the main data released today; so, call in now for the latest news and a live quote.
The US dollar started the day fairly strong before weakening in the afternoon as core retail sales and retail sales figures missed expectations dropping by 0.4% and 0.5% respectively when small gains had been anticipated. Core CPI data is the main news on the agenda today whilst the Chairman of the Federal Reserve Bank is also speaking. Call in now for a live quote and the latest update.
Elsewhere, the Japanese yen was the best performing currency yesterday strengthening against all the major currencies as risk aversion was the main driver in the market despite the Japanese markets being shut for a bank holiday, whilst the Swedish krona was one of the worst performers. Early this morning, minutes from the latest Australian monetary policy meeting were released and this afternoon the Bank of Canada is expected to keep interest rates on hold. 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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