MARKET NEWS 27TH JULY 2010
Good Morning,
GBP
The recent Pound rally continued yesterday after it boosted up to a three month high against the US Dollar. There is minimum economic data released today as the markets await Wednesday’s testimony from Bank of England governor Mervyn King. This may give a brief insight into how well the UK economy will fair over the next few months.
USD
The major announcement from the United States yesterday was the release of the US New Home Sales. These increased from 267 thousand up to 330 thousand which was much better than expected. Analysts had predicted that the New Home Sales could gain to 310 thousand, so this announcement shows that the US economy is currently in an extremely good condition. Today the US Consumer Confidence and the US Richmond Fed Manufacturing Index will be released. These will give further insights into the state of the US economy.
Chris Canning.
Archive News
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