Sterling Despite printing a 1.8% decrease in house prices this month the pound managed to continue its rally against its major counterparts after the annualised Rightmove House Price Index came in at 5.5%: better than the 4.8% previous. There are no other UK reports today so sterling could be at the mercy of market sentiment. Euro The Single Currency Weakened against its counterparts on Friday after weaker Trade Balance figures hindered the euro’s progress. There was little else to alter the value of the Shared Currency as CPI figures came in as expected. Today there are no European releases that could affect the euro. US Dollar Despite poor strings of data the US dollar managed to retain a great portion of its value. Housing Starts, Business Permits, and the Reuters/Michigan Consumer Sentiment Index all fell below estimates. This would normally weaken the Greenback as it suggests a further delay on tapering the current US stimulus program. Today there are also no US releases.
Posted on: Mon, 19 Aug 2013 09:13:47 +0000
Trending Topics
Recently Viewed Topics
© 2015