MARKET NEWS 19TH MAY 2010
Good Morning,
GBP
The currency markets remained extremely volatile throughout the day as mixed economic data was released from throughout the UK, Europe and the United States. The UK Consumer Price Index showed that UK inflation hit a 17-month high. The CPI rose to 3.7%, much higher than the target rate of 2%. The day ahead will see the release fo the Bank of England Minutes from the recent policy meeting. This could add more volatility to the exchange levels.
EUR
The German ZEW economic sentiment survey for the month of May was released. This showed a decline from 53 down to 45 which was worse than analysts had predicted. The European Consumer Price Index, however, was better than expected at 0.5% for the month of April. Today will see the speech from Jean-Claude Trichet who will talk about the current economic conditions throughout the Europe.
Chris Canning.
Archive News
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