Sterling strengthened against the euro recovering from Fridays lows whilst remaining fairly range bound against the majority of other currencies as manufacturing Purchasing Managers' Indices (PMI) figures released were better than expected showing less of a contraction than had initially been expected. UK construction PMI released today is expected to show that the industry expanded last month; but, to produce a slightly lower reading when compared to last month. Other data released today includes the change in the total value of money leant to individuals; so, call in now for the latest news and a live quote.
The euro had a poor day today as unemployment data released showed that the rate of unemployment in Europe was at a record high of 11.1%. PMI data released also confirmed the Eurozone is in recession making it increasingly likely that the European Central Bank will cut interest rates on Thursday. Spanish and Italian benchmark 10 year bond yields rose above 6.6% and 6.2% respectively which makes Thursdays Spanish 10 year bond auction an ominous prospect for the Spanish government as investors continue to demand a greater return for lending money to governments struggling to stabilize their respective economies. With little data released today the markets will look elsewhere for influence whilst looking ahead to Thursday’s central bank meetings. Call in now for the latest news and a live quote.
The US dollar had a mixed day strengthening against the euro whilst remaining fairly flat against sterling as data released showed that Manufacturing PMI was much worse than expecting showing a contraction figure of 49.7 when slight growth had been anticipated, highlighting the fragile state of the world's largest economy. The monthly change in the total value of new purchase orders placed with manufacturers is the only data of note released today in the US; so, call in now for the latest news and a live quote.
Elsewhere, the Japanese yen performed well yesterday as better than expected manufacturing data was released. Swiss retails sales data released yesterday were much better than expected posting a reading of 6.2% when only 2.1% had been expected; furthermore, Swiss PMI figures also beat the markets estimates. The Australian interest rate decision and monthly building approval figures were announced first thing this morning; whilst Japan also released data showing the year on year average cash earning. Very little other data is released today; 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 had a poor day today as unemployment data released showed that the rate of unemployment in Europe was at a record high of 11.1%. PMI data released also confirmed the Eurozone is in recession making it increasingly likely that the European Central Bank will cut interest rates on Thursday. Spanish and Italian benchmark 10 year bond yields rose above 6.6% and 6.2% respectively which makes Thursdays Spanish 10 year bond auction an ominous prospect for the Spanish government as investors continue to demand a greater return for lending money to governments struggling to stabilize their respective economies. With little data released today the markets will look elsewhere for influence whilst looking ahead to Thursday’s central bank meetings. Call in now for the latest news and a live quote.
The US dollar had a mixed day strengthening against the euro whilst remaining fairly flat against sterling as data released showed that Manufacturing PMI was much worse than expecting showing a contraction figure of 49.7 when slight growth had been anticipated, highlighting the fragile state of the world's largest economy. The monthly change in the total value of new purchase orders placed with manufacturers is the only data of note released today in the US; so, call in now for the latest news and a live quote.
Elsewhere, the Japanese yen performed well yesterday as better than expected manufacturing data was released. Swiss retails sales data released yesterday were much better than expected posting a reading of 6.2% when only 2.1% had been expected; furthermore, Swiss PMI figures also beat the markets estimates. The Australian interest rate decision and monthly building approval figures were announced first thing this morning; whilst Japan also released data showing the year on year average cash earning. Very little other data is released today; 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/
Posts
No comments:
Post a Comment