PhilBen
1st March 2010, 07:48
The Pound continues its decline from last week as the drop below 1.10 against the Euro looks ever more likely. With CIPS Manuf. PMI the only data out for the UK that could have an effect, investors could continue to pull away from sterling.
The Dollar broke below 1.51 against sterling over the weekend as the favoured currency continues to chip away against most of the majors. However the pound is its biggest casualty and looks likely to make further gains over the coming days.
The Euro enjoying the rest bite from previous weeks, took advantage of the pounds weakness with a good possibility that it could push the sterling below 1.10. Over the weekend the Euro held its own against the Dollar.
Major Data out Today
AU Current Account
DE Manuf. PMI (F)
UK CIPS Manuf. PMI
EURO Unemployment
CA GDP
US Core PCE Price Index
US Personal income
US Personal spending
Live IB rates at 8.42 am UK
GBP - EURO 1.112
GBP - USD 1.515
GBP - AUD 1.684
EURO – USD 1.363
The Dollar broke below 1.51 against sterling over the weekend as the favoured currency continues to chip away against most of the majors. However the pound is its biggest casualty and looks likely to make further gains over the coming days.
The Euro enjoying the rest bite from previous weeks, took advantage of the pounds weakness with a good possibility that it could push the sterling below 1.10. Over the weekend the Euro held its own against the Dollar.
Major Data out Today
AU Current Account
DE Manuf. PMI (F)
UK CIPS Manuf. PMI
EURO Unemployment
CA GDP
US Core PCE Price Index
US Personal income
US Personal spending
Live IB rates at 8.42 am UK
GBP - EURO 1.112
GBP - USD 1.515
GBP - AUD 1.684
EURO – USD 1.363