Aside from the light data calendar, scant direction from equity markets saw most of the major currencies confined to recent ranges. GBP/ EUR and GBP/USD have traded within just over a half cent range over the last 24 hours. The Main event of note was the further downgrade of Anglo Irish Bank by Moody’s, which briefly hit the Euro. The effect was muted, however. Comments by ECB President Trichet that “We expect the recovery to proceed at a moderate pace, with a positive underlying momentum”, gave the EUR a push to a 5 month high against the Dollar, touching 1.3500 briefly. According to latest data, the speculative community now hold a net long EUR position for the first time this year.
Today, for the UK we have revised Q2 GDP figures and business investment data, and in the US, aside from consumer confidence and manufacturing data, the Case-Shiller home price release will be keenly watched after last weeks housing data.
at the wrong time could cost you a fortune. There is no crystal ball but Currency UK can give you the information you need to make an informed decision.
Posted in Daily Market News on May 30 2014
Sterling rallied to a six-week high against the dollar on Friday as the U.S. currency came under broad selling pressure. Weak U.S. housing market data has again highlighted weakness in the economy. Poor new new home sales helped push the pound up more than 1 percent on the day versus...VIEW FULL ARTICLE
Posted in Daily Market News on Sep 27 2010 by admin