MARKET NEWS 11TH MARCH 2010
Good Morning,
GBP
The Pound fell during the morning trading session yesterday after weaker than expected Industrial and Manufacturing Production. Data showed that production figures declined for the month of January, despite most analysts’ forecasts of a modest increase. This caused a GBP sell-off and trading levels fell steadily. Against the Euro the trading levels hit a low of €1.0915. There is minimal data to be released from the UK today so the trading direction will rely on data from Europe and US Dollar.
EUR
German CPI was released higher than expected yesterday, and this helped support the Euro. The currency picked up against the US Dollar and the British Pound throughout the day. Today the monthly report from the European Central Bank will be released. This will give detailed analysis of the current economic conditions throughout Europe and analysts will be keen to hear about any future plan for the recovery of Greece.
USD
The US Dollar reduced yesterday after investor risk appetite gradually increased. US Wholesale Inventories reduced 0.2% which helped boost risk appetite as the massive US stockpiles are diminishing. Today the US Trade Balance will be released along with the latest initial and continuing jobless claims.
Archive News
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