Sterling remained fairly flat yesterday against the majority of currencies as very little significant data was released globally and the markets await key events later on in the week. Trade balance data released today will be the main release on the agenda, whilst one of the members of the Bank of England is speaking in the evening on what is otherwise scheduled to be another quiet day in the UK. Following yesterday’s lack of volatility, you would expect a similar pattern to emerge today; however, in such uncertain times anything could happen. Call in now for the latest rates.
The euro traded in a similar pattern to sterling yesterday and remained relatively flat due to the lack of significant data being released. Of the data that was released we saw French Industrial Production beat expectations showing slight growth of 0.2% and European investor confidence although higher than anticipated was still extremely pessimistic. Other data showed that the Italian second quarter GDP figures had been revised downwards showing a deeper recession than initially predicted. It is scheduled to be a quiet day on the data front in the Eurozone today with German inflation data and French employment figures being the main data released. However, with so much riding on The German Federal Constitutional Court ruling on Wednesday, we could see the markets very jittery leading up to the event. Call in now for the latest news
The US dollar recovered some of its losses from Friday; but, like much of the market traded in a narrow range against the majority of currencies. Trade balance data released today will be the main release on the agenda, whilst consumer confidence data will also be announced. As with the Eurozone, the US will look to events later in the week for influence the most significant being the Federal Open Market Committee (FOMC) announcement on Thursday. Get the latest news by calling in.
Elsewhere, the Norwegian krone was one of the worst performing currencies yesterday as data released showed that inflation had slowed, whilst the South African rand was one of the best performers. Chinese trade balance data was much better than expected, but, this was due to a big drop in imports rather than a growing export market. Overnight we saw the release of Japanese manufacturing confidence, Australian business confidence and the total value of new loans issued in China in the previous month. Out later on today, Canadian trade balance data and the number of new residential houses that have begun construction in the previous month will 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 traded in a similar pattern to sterling yesterday and remained relatively flat due to the lack of significant data being released. Of the data that was released we saw French Industrial Production beat expectations showing slight growth of 0.2% and European investor confidence although higher than anticipated was still extremely pessimistic. Other data showed that the Italian second quarter GDP figures had been revised downwards showing a deeper recession than initially predicted. It is scheduled to be a quiet day on the data front in the Eurozone today with German inflation data and French employment figures being the main data released. However, with so much riding on The German Federal Constitutional Court ruling on Wednesday, we could see the markets very jittery leading up to the event. Call in now for the latest news
The US dollar recovered some of its losses from Friday; but, like much of the market traded in a narrow range against the majority of currencies. Trade balance data released today will be the main release on the agenda, whilst consumer confidence data will also be announced. As with the Eurozone, the US will look to events later in the week for influence the most significant being the Federal Open Market Committee (FOMC) announcement on Thursday. Get the latest news by calling in.
Elsewhere, the Norwegian krone was one of the worst performing currencies yesterday as data released showed that inflation had slowed, whilst the South African rand was one of the best performers. Chinese trade balance data was much better than expected, but, this was due to a big drop in imports rather than a growing export market. Overnight we saw the release of Japanese manufacturing confidence, Australian business confidence and the total value of new loans issued in China in the previous month. Out later on today, Canadian trade balance data and the number of new residential houses that have begun construction in the previous month will 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/
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