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  • Mixed signals in the eurozone
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  • Portugal weakens the Euro

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• Business and Stock Market News

  Latest Economics Events

  • US: Factory Orders (MoM): 1.100 % (FXstreet.com: Latest Economics Events)
  • US: ISM Non-Manufacturing: 56.800 (FXstreet.com: Latest Economics Events)
  • MX: Consumer Confidence s.a: 94.000 (FXstreet.com: Latest Economics Events)
  • US: Average Hourly Earnings (YoY): 1.900 % (FXstreet.com: Latest Economics Events)
  • US: Nonfarm Payrolls: 243.000 (FXstreet.com: Latest Economics Events)

Overall, Bernanke provided get a long overview of why we should be confident that the US will grow in 2011, and a list of excuses as to why growth has been so bad thus far this year. Though he didn’t signal any change in policy, with his remarks viewed as hawkish by the market, the speech clearly set the foundation for additional easing should conditions deteriorate.

The UK received some more positive data yesterday from the CBI retail sales volumes which showed a year-on-year increase for a consecutive month…read more

Improved risk sentiment has helped pull Sterling higher against both the Euro and Dollar. With little new on the domestic front, Sterling is prey to swings in risk sentiment further afield …read more

After recent weakness against many of the majors, the Dollar is finally back in vogue it seems, at least looking at its performance over last week and into this week. New and fresh synonyms for ‘risk aversion’ and ‘risk appetite’ are becoming increasingly difficult to fabricate… read more

With very little data out for the rest of the day it looks as though risk aversion will be the order of the day with quite a bit of volatility around the AUD. The Euro, already on the back foot a little, could see further falls against both the GBP and the USD although sterling is not without problems and the USD could again prove to the best performing currency at least until some data gives us cause to believe otherwise…

Risk aversion saw USD gain against GBP overnight and this morning BUT do not lose heart, GBP is performing well against most other currencies… read more

With the decent news out for the UK this morning we should see a bit of a rally in the pound and hopefully reverse the losses from earlier in the week. With only the US jobless claims this afternoon it could prove to be a bit more of a positive day for the proud pound… read more

International banks are cashing in on the back of their staff bonuses according to foreign exchange specialist, Currency UK.
The company has seen a dramatic rise in bankers using its service to transfer bonuses, which have been paid in US Dollars, back into Sterling.
Their employers have been charging British staff fees of up to £2,500 just [...]

For Sterling, the major event was inflation figures release. Yesterday’s data showed the UK CPI rate edging lower to 3.1% in July from 3.2% in June…read more

Chancellor Osborne is due to speak this afternoon on ‘Building an economy for the future’. With thin trading, this could move markets … read more

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