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.
The Euro is near to one-month lows against the Dollar on Monday as the U.S. economic outlook is indicating that the Federal Reserve may decrease its quantitative easing program. This potential decrease has made the dollar more attractive all round, hence we have also seen the GBP/USD rate fall from its recent highs.
The US data week will release with last month's retail sales figures today. Economists’ expect the data to show that sales fell 0.3%, following a 0.4% decline in March.
Posted in Daily Market News on May 30 2014
As expected, the UK MPC did not change policy in its May meeting, keeping the size of its asset purchase programme at £375bn and Bank Rate unchanged at 0.5%. With the Funding for Lending Scheme just extended in April and a recent run of upbeat UK economic data, the Bank...VIEW FULL ARTICLE
Posted in Daily Market News on May 10 2013 by alex