Sterling had a steady day yesterday against most currencies although it did enjoy a short period of strengthening against the euro in the morning only to give back the gains it made in the afternoon. The inflation data released was higher than expected at 2.7% which was a surprise to the market place but probably not to those of us who see our energy and food bills continue to rise. Today we have the Bank of England’s inflation report which will be carefully scrutinized in an effort to identify if the BoE believes there is a short term need for further quantitative easing. Please call in to get a detailed update form your trader.
The euro continues to hover around the 1.25 level against sterling. As mentioned yesterday the final decision to lend further bailout funds to Greece has yet to be made and it appears that there are some differences of opinion on certain key matters by the parties who make the decisions. Not helpful in restoring business confidence as is the continued delay by the Spanish government in asking for further help from the European Central Bank. Perhaps the decision will be taken out of their hands as we continue to see the yield on Spanish government debts increase and getting close to levels viewed as being unsustainable. The measure of investor’s expectations for the German economy released yesterday came in worse than expected which highlights further how the power house of the Euro zone economy is beginning to suffer. For the latest rate please call in.
Although the US dollar has been the ascendancy it was fairly range bound yesterday with a lack of data being released. Today we have the following data released; core retail sales data, the producer price index and advanced retail sales data. I think it reasonable with the uncertainty in Europe and the problems with debt ceilings and fiscal cliffs at home we will see short term the US dollar benefit from increased risk aversion. Get an update by calling in.
Asian currencies had a quiet day yesterday apart from the Chinese Renminbi which benefited from the pickup in the Chinese economy. This also benefits the Australian economy and dollar as well.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro continues to hover around the 1.25 level against sterling. As mentioned yesterday the final decision to lend further bailout funds to Greece has yet to be made and it appears that there are some differences of opinion on certain key matters by the parties who make the decisions. Not helpful in restoring business confidence as is the continued delay by the Spanish government in asking for further help from the European Central Bank. Perhaps the decision will be taken out of their hands as we continue to see the yield on Spanish government debts increase and getting close to levels viewed as being unsustainable. The measure of investor’s expectations for the German economy released yesterday came in worse than expected which highlights further how the power house of the Euro zone economy is beginning to suffer. For the latest rate please call in.
Although the US dollar has been the ascendancy it was fairly range bound yesterday with a lack of data being released. Today we have the following data released; core retail sales data, the producer price index and advanced retail sales data. I think it reasonable with the uncertainty in Europe and the problems with debt ceilings and fiscal cliffs at home we will see short term the US dollar benefit from increased risk aversion. Get an update by calling in.
Asian currencies had a quiet day yesterday apart from the Chinese Renminbi which benefited from the pickup in the Chinese economy. This also benefits the Australian economy and dollar as well.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Posts
No comments:
Post a Comment