Sterling briefly touched a one year high of 1.63 against the US dollar on Friday, but, struggled to break through this resistance level. Last time the markets reached these levels in April we saw the market snap back aggressively with sterling weakening off by ten cents in less than two months. We will have to see if the markets react in the same way this time. Sterling faired fairly well in general on Friday as figures released showed that the level of public sector net borrowing was less than initially anticipated. This week the main release will be the current account figures and the markets will hope for a fairly positive reading following the public sector net borrowing figures released on Friday. However there is a raft of data released elsewhere which will affect sterling so call in now for the latest rates.
The euro had a mixed day on Friday as concerns that Spain may soon apply for a full sovereign bailout were accelerated as rumours spread that EU officials were already in talks about a potential rescue package. This week, the main releases will be German business confidence figures, the Italian and German benchmark 10-year bond auctions and the president of the European Central Bank (ECB) is also speaking. So plenty of news which will impact on the euro one way or the other so call in now for the latest update and rates.
The US dollar had a poor day on Friday and weakened against the majority of currencies as risk appetite continued to be the main driver in the market. This week we will see another full economic calendar in the US which includes consumer confidence figures, housing data and employment data. This raft of data being released will give a clearer picture on the state of the US economy and could have a significant effect on the US dollar. The US dollar has struggled over the past few months now and is close to some key levels against other currencies. We will have to see if it breaks through these levels or stages a recovery. Get the latest news by calling in.
Elsewhere, the main release on Friday was the Canadian inflation data which came out slightly lower than expected. This week, Canadian GDP data and retail sales figures will be announced, business confidence from New Zealand will be released and the President of the Swiss national bank is also speaking. 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 on Friday as concerns that Spain may soon apply for a full sovereign bailout were accelerated as rumours spread that EU officials were already in talks about a potential rescue package. This week, the main releases will be German business confidence figures, the Italian and German benchmark 10-year bond auctions and the president of the European Central Bank (ECB) is also speaking. So plenty of news which will impact on the euro one way or the other so call in now for the latest update and rates.
The US dollar had a poor day on Friday and weakened against the majority of currencies as risk appetite continued to be the main driver in the market. This week we will see another full economic calendar in the US which includes consumer confidence figures, housing data and employment data. This raft of data being released will give a clearer picture on the state of the US economy and could have a significant effect on the US dollar. The US dollar has struggled over the past few months now and is close to some key levels against other currencies. We will have to see if it breaks through these levels or stages a recovery. Get the latest news by calling in.
Elsewhere, the main release on Friday was the Canadian inflation data which came out slightly lower than expected. This week, Canadian GDP data and retail sales figures will be announced, business confidence from New Zealand will be released and the President of the Swiss national bank is also speaking. 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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