PhilBen
4th December 2009, 08:04
The Pound The service sector grew less than forecast in November, a purchasing managers' survey showed yesterday, however economists remained confident the economy should return to growth in the fourth quarter. Gordon Brown moved to dispell fears of a mass walk out by the board of RBS, saying it would not be singled out for unduly harsh treatment over bonuses. In a unseen move by politicians to smooth the global backlash against large payouts to the bankers, Brown said nobody was being "discriminated against" while his business secretary Peter Mandelson said he understood the concerns of RBS directors
The Dollar Service industries in the U.S. unexpectedly contracted in November as companies lost confidence the recovery will gather strength. The Institute for Supply Management’s index of non- manufacturing businesses that make up almost 90 percent of the economy fell to 48.7 from 50.6 in October, according to the Tempe, Arizona-based group. Fifty is the dividing line between expansion and contraction. The group’s measure of views on business activity dropped to the lowest level in four months.
The Euro European Central Bank President Jean- Claude Trichet said the bank will scale back its flagship emergency financing operations next year as the euro region starts an “uneven” recovery. “The improved conditions in financial markets have indicated that not all our liquidity measures are needed to the same extent as in the past,” Trichet said at a press conference in Frankfurt today after the ECB kept its benchmark interest rate at 1 percent, a record low.
Interbank Rates at 8.24 am UK Time
GBP-EURO
GBP-USD
GBP-AUD
Major Data out today
CH CPI
CA Net Change in Employment
CA Unemployment
US Hourly Earnings
US Non-farm Payrolls
US Unemployment Rate
CA Ivey PMI
The Dollar Service industries in the U.S. unexpectedly contracted in November as companies lost confidence the recovery will gather strength. The Institute for Supply Management’s index of non- manufacturing businesses that make up almost 90 percent of the economy fell to 48.7 from 50.6 in October, according to the Tempe, Arizona-based group. Fifty is the dividing line between expansion and contraction. The group’s measure of views on business activity dropped to the lowest level in four months.
The Euro European Central Bank President Jean- Claude Trichet said the bank will scale back its flagship emergency financing operations next year as the euro region starts an “uneven” recovery. “The improved conditions in financial markets have indicated that not all our liquidity measures are needed to the same extent as in the past,” Trichet said at a press conference in Frankfurt today after the ECB kept its benchmark interest rate at 1 percent, a record low.
Interbank Rates at 8.24 am UK Time
GBP-EURO
GBP-USD
GBP-AUD
Major Data out today
CH CPI
CA Net Change in Employment
CA Unemployment
US Hourly Earnings
US Non-farm Payrolls
US Unemployment Rate
CA Ivey PMI