A difficult start to the week for sterling losing ground against most currencies and just about holding its own against the euro. Inflation data in the form of the Consumer Price Index is out today and the expectation is for a small increase to 2.3%. The markets will be watching to see if comments accompanying the statement increase the possibility of further quantitative easing from the Bank of England. If they do then we could see further weakness from sterling. Call your trader for the latest rates and update now.
Even though the Greek government voted through their 2013 budget on Friday including the required austerity cuts there is still doubt that all is finally agreed and that the next bailout funds will be released. Another example of political brinkmanship replacing common sense which continues to erode business confidence in the Eurozone. Today we see the release of German economic sentiment data, along with reports and data from yesterday's Eurogroup meeting of Finance Ministers. So we can expect the markets to remain uncertain so please call your trader now for the latest updates and rate.
The US dollar continues to be in the ascendancy gaining over two cents against sterling and the euro over the last couple of weeks and investors seem to be of the opinion that this will continue. We saw better than expected data coming out of the US yesterday in the form of core retail sales increasing 1.1% in September. Inflation data is on the agenda today. As noted the US dollar is very much in the ascendancy at the moment so please call your trader for the latest price.
As mentioned we have seen sterling lose ground against most currencies especially the Australian and New Zealand dollars. This is slightly surprising because usually when we see the US dollar strengthening it is on the back of risk aversion which is usually bad for these particular currencies. Perhaps we are seeing a change in the short term correlation between these currencies and as such will require careful monitoring.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Even though the Greek government voted through their 2013 budget on Friday including the required austerity cuts there is still doubt that all is finally agreed and that the next bailout funds will be released. Another example of political brinkmanship replacing common sense which continues to erode business confidence in the Eurozone. Today we see the release of German economic sentiment data, along with reports and data from yesterday's Eurogroup meeting of Finance Ministers. So we can expect the markets to remain uncertain so please call your trader now for the latest updates and rate.
The US dollar continues to be in the ascendancy gaining over two cents against sterling and the euro over the last couple of weeks and investors seem to be of the opinion that this will continue. We saw better than expected data coming out of the US yesterday in the form of core retail sales increasing 1.1% in September. Inflation data is on the agenda today. As noted the US dollar is very much in the ascendancy at the moment so please call your trader for the latest price.
As mentioned we have seen sterling lose ground against most currencies especially the Australian and New Zealand dollars. This is slightly surprising because usually when we see the US dollar strengthening it is on the back of risk aversion which is usually bad for these particular currencies. Perhaps we are seeing a change in the short term correlation between these currencies and as such will require careful monitoring.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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