Sterling had a mixed day yesterday weakening off to €1.2570/£1 as the markets continue to bet on the European Central Bank stepping in to stabilise Euro zone government borrowing costs by capping bond yields. With very little data on the UK’s economic agenda today, the expectation would be for volatility to remain low; however, sterling is close to a key support level against the euro. Sterling could either bounce off this support level and continue the upward trend it has shown against the euro since the start of the year or if it weakens through the support level we could see sterling lose ground very quickly. Call in now for the latest rates.
The euro had a relatively strong day yesterday following a solid bond auction in Spain and traders' expectations of central bank intervention to calm the government bond markets. Other data released included German consumer sentiment which remained unchanged from last month. Out today the main releases will be German inflation data and Italian retail sales figures. Call in now for the latest news.
The US dollar was relatively weak yesterday as consumer confidence figures released missed market estimates. The main release today will be the preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes the number of homes pending sale and the Beige book will reveal the state of the local economies from all 12 Federal Reserve Banks. Get the latest news by calling in.
Elsewhere, the main news released yesterday was that the Japanese government had downgraded its view of its own economy. Other data released included South Africa’s second quarter GDP figures which were released slightly below estimates at 3.2%, and the change in the number of new homes sold in Australia showed a sharp contraction from last month. Out today, an economic barometer from Switzerland will go some way to show the relative economic strength of the nation as well as providing a forecast for the next 6 months, whilst Canadian raw materials inflation data will also be 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 had a relatively strong day yesterday following a solid bond auction in Spain and traders' expectations of central bank intervention to calm the government bond markets. Other data released included German consumer sentiment which remained unchanged from last month. Out today the main releases will be German inflation data and Italian retail sales figures. Call in now for the latest news.
The US dollar was relatively weak yesterday as consumer confidence figures released missed market estimates. The main release today will be the preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes the number of homes pending sale and the Beige book will reveal the state of the local economies from all 12 Federal Reserve Banks. Get the latest news by calling in.
Elsewhere, the main news released yesterday was that the Japanese government had downgraded its view of its own economy. Other data released included South Africa’s second quarter GDP figures which were released slightly below estimates at 3.2%, and the change in the number of new homes sold in Australia showed a sharp contraction from last month. Out today, an economic barometer from Switzerland will go some way to show the relative economic strength of the nation as well as providing a forecast for the next 6 months, whilst Canadian raw materials inflation data will also be 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/
Posts
No comments:
Post a Comment