Britain's main services sector reported its strongest growth since last April, indicating a positive economic growth. The UK services Purchasing Managers' Index increased to 52.9 in April, its highest index since August and the fourth consecutive monthly rise. There had been expectations that the index would stay at March's level of 52.4. The main improvement was mainly supported by increasing growth in new orders since last May.
The Euro rose slightly versus the Dollar on Friday, remaining steady after dipping yesterday as the European Central Bank cut interest rates and extended the possibility of further policy action. As widely anticipated, the ECB cut its key interest rate by 25 basis points to a record-low 0.5 percent.
Meanwhile the Dollar slips today ahead of the US jobs report, as it adds concerns about the U.S. economy and further monetary easing. April non-farm payrolls are looking for jobs growth of 145,000, up from 88,000 for March. The U.S. unemployment rate is steady at 7.6 percent.
Posted in Daily Market News on May 30 2014
The Euro slid against the Dollar, gaining for the fourth day, yesterday. The ECB is expected to cut its main interest rate for the first time in 10 months to a record-low 0.5 percent today. Currently, interest rates are at 0.75%, but there as been demand for further cuts amongst...VIEW FULL ARTICLE
Posted in Daily Market News on May 2 2013 by alex