IFX Market Report

Submitted by qrops on Thu, 04/Mar/2010

Summary:

IN THE UK

 

  • Sterling gains against 13 of the 16 most traded currencies.
  • PMI data released shows strongest expansion to the services sector in the past 3 years.
  • Consumer confidence at the highest level in 2 years.
  • Prudential’s purposed buy out of AIG may fall through after concerns over falling share prices.
  • Bank of England policy decision held today.

 

IN THE US 

 

  • Greece announces spending cuts and tax increases all aimed to cut the current monetary deficit.
  • German retail sales (MoM) 0.5% better than consensus
  • Euro gains against the dollar to its highest level in the last two weeks.

 

IN THE EU

 

  • Investors sell off the greenback over increase in risk appetite.
  • Unemployment rises sharply in US.
  • Housing data release today.

 

Current Spot Rates (9.30am)

 

 

 

 

 

 

 

 

 

 

 

 

 

USD

EUR

AUD

CAD

JPY

SEK

ZAR

GBP

1.5045

1.1010

1.6699

1.5514

133.053

10.74

11.31

USD

 

1.3662

1.1099

1.0312

88.437

7.14

7.52