MARKET NEWS 29TH JULY 2010
Good Morning,
GBP
The Pound pushed higher against the US Dollar and the Euro yesterday despite pessimistic comments from Bank of England governor Mervyn King. In his statement he stated that he can not be certain that a recovery will be sustained in the UK, and that further asset purchases may be warranted at some point in the future. Despite this the Pound managed to gain in strength throughout the afternoon as investors bought in to the Pound.
EUR
The German CPI increased month-on-month for the month of July. However this was not as much as expected. Analysts had predicted an increase from 0.1% up to 0.3%, but actual results showed only a 0.2% increase. Today the European Money Supply and the Economic Confidence index will be released for the month of July. Similarly the German Unemployment Rate is set to fall from 7.7% to 7.6% for the month of July.
Chris Canning.
Archive News
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