Good morning, as the UK embraces half-term and the US commemorates Washington’s birthday today we are expecting a relatively day with very little data being released in the UK or the Eurozone. Any news from Europe, is likely to come from Eurogroup and EuroFin meetings and the standard discussions about the banking union and single resolution mechanism.
GBP is still looking very strong against the majority of other currencies. We saw GBPUSD reach 5 year highs very early on Monday morning before dropping off again. The US labour and retail data figures released on Friday were worse than expected and this has helped GBP as well.
We do have some BoE meeting minutes released this week and these could well trigger further movement. From the US, this week we have Empire and Philly Fed manufacturing surveys, January housing starts and existing home sales and Fed Reserve meeting minutes. These aren't expected to be overly impressive.
We are expecting to see further positive data from Europe with the GDP release and flash purchasing managers’ indices. But whilst the Euro is seen as being strong, GBP is currently even stronger so it should be an interesting week ahead.
Posted in Daily Market News on May 30 2014
Good morning and Happy Valentine’s Day to one and all. Starting with the least surprising news of the day, UK house prices rose to a record level in January courtesy of an increase in first time buyers and an in movement across the UK and not just London.VIEW FULL ARTICLE
Posted in Daily Market News on Feb 14 2014 by admin