Sterling was fairly range bound yesterday against the euro and US dollar; but, was weak against the commodity backer currencies as construction Purchasing Managers' Indices (PMI) released was much worse than expected. The data showed that the industry contracted in June when a slight expansion had been anticipated making it increasingly likely that the Bank of England will increase quantitative easing by £50 billion on Thursday. Other data released showed that the change in the total value of money leant to individuals had increased by more than expected. Services PMI is the main news on the agenda which is expected to show that the industry expanded last month; but, the markets will be tentative following yesterday's shock contraction in the construction industry. Other data released includes the change in the price of homes financed by HBOS. Call in now for the latest news and a live quote.
The euro had a mixed day yesterday as monthly inflation data released was much lower than expected posting a -0.5% change in the price of finished goods and services sold by producers. Greece plans to start to renegotiate the terms of its bailout package today; but, it is not clear how successful it will be, if at all. The main data released today will be the services PMI figures as well as the monthly change in the total value of sales at the retail level; so, call in now for the latest news and a live quote.
The US dollar was fairly weak yesterday as investors sought riskier assets to target a greater return for their money. Data released showed that monthly factory orders beat expectations rising by 0.7% when last month saw a contraction of 0.7%. It is a bank holiday in the US today so no significant data is released and the market will look elsewhere for influence. Call in now for the latest news and a live quote.
Elsewhere, the commodity backed currencies performed well today whilst the Japanese yen struggled as risk appetite drove the market. Data released from Australia showed that whilst interest rates were kept on hold as expected, other figures revealed that the monthly building approval figures rose dramatically by 27.3% when only a 5.1% increase was expected, Australian retails sales data and services index figures were released first thing this morning; 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 had a mixed day yesterday as monthly inflation data released was much lower than expected posting a -0.5% change in the price of finished goods and services sold by producers. Greece plans to start to renegotiate the terms of its bailout package today; but, it is not clear how successful it will be, if at all. The main data released today will be the services PMI figures as well as the monthly change in the total value of sales at the retail level; so, call in now for the latest news and a live quote.
The US dollar was fairly weak yesterday as investors sought riskier assets to target a greater return for their money. Data released showed that monthly factory orders beat expectations rising by 0.7% when last month saw a contraction of 0.7%. It is a bank holiday in the US today so no significant data is released and the market will look elsewhere for influence. Call in now for the latest news and a live quote.
Elsewhere, the commodity backed currencies performed well today whilst the Japanese yen struggled as risk appetite drove the market. Data released from Australia showed that whilst interest rates were kept on hold as expected, other figures revealed that the monthly building approval figures rose dramatically by 27.3% when only a 5.1% increase was expected, Australian retails sales data and services index figures were released first thing this morning; 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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