MARKET NEWS 14TH MAY 2010
Good Morning,
GBP
The Pound fell against most major currencies yesterday after it was announced that the UK Trade Balance fell more than expected. The Trade Deficit increased to just over £7.5B which was greater than the £6.5B predicted by most analysts. This caused a GBP sell-off steadily throughout the day.
EUR
The Euro fell to a 14-month low against the US Dollar yesterday as concerns that the Eurozone may continue to suffer as a result of the growing debt throughout several European economies. This caused a drop in investor risk appetite and investors bought the US Dollar as a safe-haven.
USD
The US Dollar rallied as concerns throughout Europe caused investors to invest in the World’s Reserve Currency. The day ahead is mainly dominated by US economic data as the US Retail Sales will be released along with the Industrial Production and Consumer Sentiment.
Chris Canning.
Archive News
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