STERLING Despite a lack of significant economic data the pound managed to continue its bull-run on Friday. This was partly aided by the poorer results printed by sterling’s counterparts but also by the renewed optimism over the UK’s economic prospects. Today there is only a quarterly report by the Bank of England. EUROS The Single Currency continued to suffer against many of its major counterparts on Friday as Draghi’s comments continued to play in the minds of traders. The euro didn’t receive any support from the European Economic Area’s Unemployment figures either as, despite printing a better number than previous, the data remained disappointing. Today’s most significant release will be the Euro-Zone’s CPI figures. DOLLARS The US dollar has continued to fall against its counterparts as weaker data hurt the Greenback further. Friday’s top release was the Advance Retail Sales numbers which came in 0.3% below estimates. This has been doubly damaging for the dollar as many have been expecting the US Federal Reserve to announce tapering during their September FOMC meeting. Yet the Fed has stipulated that this would only occur should economic data prove it warranted. The poorer than forecast Non-Farm Payrolls data, however, means that this is no longer a certainty. Today from the US we have Industrial Production and Manufacturing Production as the two major releases.
Posted on: Mon, 16 Sep 2013 08:58:33 +0000
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