IFX Market Report

IN THE UK:

• Sterling recovers some of its previous day’s losses.
• BoE member Andrew Sentance makes hawkish comments on UK inflation.
• CBI data comes in at a lower level then expected.

IN THE EU:

• Some euro zone countries offer support to the pound.
• Concern over the fiscal health of Greece weakens the euro to a 5 month low.
• German CPI comes in 0.2% below consensus

IN THE US:

• Mortgage applications & new home sales data are weaker then predictions.
• Fed interest rate decision held at 0.25%.
• Markets await durable good orders early afternoon.