The Pound dropped against the Euro in anticipation of Germany's ZEW monthly sentiment survey; it is expected to show optimism in Europe's largest pick up in May, it is predicted to rise to 38.3 in May from 36.3. Also, industrial production in the euro area increased 1% in March above expectations for a 0.4% rise, for the second month again, easing concerns over the outlook for growth in the Euro zone.
In the UK, an industry report showed U.K. house prices rose to the highest level in three and a half years, last month. The Royal Institution of Chartered Surveyors (RICS) announces its house-price index increased to 1 from minus 2 in March, this was supported by a new government scheme to help boost the housing sector. However, this positive news has failed to support GBP versus EUR and USD.
Posted in Daily Market News on May 30 2014
Business confidence is on the rise across most of the UK, although manufacturers are less positive. Growth forecasts holds steady this year at 1% by the Confederation of British Industry. Also, the accountancy firm, BDO stated that business confidence improved in April, mainly in the service sector.VIEW FULL ARTICLE
Posted in Daily Market News on May 13 2013 by alex