PhilBen
8th March 2010, 08:58
The Pound with very little data out today the pound breaks above the 1.11’s.
However this could be very short lived with retail sales and Visible Trade Balance, data out tomorrow. Mean while speculation still grows on the on the failing economy after the Chambers of Commerce release a report claiming that GDP will grow slower than Government forecasts. This could hinder any hopes of a full recovery short or possibly long term.
The Dollar Briefly slipped below 1.50 against sterling on Friday after the release of better-than-expected U.S. NFP data, sterling resisted any further gains and climbed back above the 1.51’s on the open this morning.
The Euro we could see a lot of movement this week on the Euro with the Greek credit woes still remain the main issue with investors. With lots of UK, US and Euro data out all eyes will be the Pound and how it responds under pressure.
The Euro Major Data out Today
DE Industrial Production
CA Housing starts
Live IB rates at 9.50 am UK
GBP - EURO 1.109
GBP - USD 1.516
GBP - AUD 1.661
EURO – USD 1.366
However this could be very short lived with retail sales and Visible Trade Balance, data out tomorrow. Mean while speculation still grows on the on the failing economy after the Chambers of Commerce release a report claiming that GDP will grow slower than Government forecasts. This could hinder any hopes of a full recovery short or possibly long term.
The Dollar Briefly slipped below 1.50 against sterling on Friday after the release of better-than-expected U.S. NFP data, sterling resisted any further gains and climbed back above the 1.51’s on the open this morning.
The Euro we could see a lot of movement this week on the Euro with the Greek credit woes still remain the main issue with investors. With lots of UK, US and Euro data out all eyes will be the Pound and how it responds under pressure.
The Euro Major Data out Today
DE Industrial Production
CA Housing starts
Live IB rates at 9.50 am UK
GBP - EURO 1.109
GBP - USD 1.516
GBP - AUD 1.661
EURO – USD 1.366