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PhilBen · 05-03-10, 05:26

The Pound holds for the first time in days and we could see a close this week nearing the 1.11 against the Euro. However any small gains could be lost next week when a string of important data such as Visible Trade Balance and Retail Sales will be released. All eyes still remain on the contest between Gordon Brown and the Conservatives and I think Sterling will have plenty of stormy days to come.

The Dollar Less Americans than expected signed contracts to purchase previously owned houses in January, indicating the tax credit is doing little to encourage buyers. The index of purchase agreements, or pending house sales, dropped 7.6 % after a revised 0.8 % increase in December, the National Association of Realtors announced in Washington. Other reports yesterday showed factory orders increased and first-time jobless claims declined.

The Euro ECB President Jean Claude Trichet pressed Greece to halt its flirtation with the IMF (International Monetary Fund) aid and work with European allies to tame its record budget deficit. As protesters besieged the Greek Finance Ministry to denounce 4.8 billion Euros of tax increases and spending cuts, the Athens government said the absence of European support might force it into the hands of the IMF.

Major Data out Today
UK Input Prices (unadj)
UK Output Prices (unadj)
UK Output Prices Core (unadj)
US Hourly Earnings
US Non-farm Payrolls
US Unemployment Rate

Live IB rates at 5.17 am UK
GBP - EURO 1.106
GBP - USD 1.503
GBP - AUD 1.669
EURO – USD 1.359

05-03-10, 05:26	#15 (permalink)
PhilBen Finding my feet here Join Date: Jan 2010 Location: Cornwall UK Posts: 21 Thanks: 1 Thanked 0 Times in 0 Posts	Currency Market Update 05/03/10 The Pound holds for the first time in days and we could see a close this week nearing the 1.11 against the Euro. However any small gains could be lost next week when a string of important data such as Visible Trade Balance and Retail Sales will be released. All eyes still remain on the contest between Gordon Brown and the Conservatives and I think Sterling will have plenty of stormy days to come. The Dollar Less Americans than expected signed contracts to purchase previously owned houses in January, indicating the tax credit is doing little to encourage buyers. The index of purchase agreements, or pending house sales, dropped 7.6 % after a revised 0.8 % increase in December, the National Association of Realtors announced in Washington. Other reports yesterday showed factory orders increased and first-time jobless claims declined. The Euro ECB President Jean Claude Trichet pressed Greece to halt its flirtation with the IMF (International Monetary Fund) aid and work with European allies to tame its record budget deficit. As protesters besieged the Greek Finance Ministry to denounce 4.8 billion Euros of tax increases and spending cuts, the Athens government said the absence of European support might force it into the hands of the IMF. Major Data out Today UK Input Prices (unadj) UK Output Prices (unadj) UK Output Prices Core (unadj) US Hourly Earnings US Non-farm Payrolls US Unemployment Rate Live IB rates at 5.17 am UK GBP - EURO 1.106 GBP - USD 1.503 GBP - AUD 1.669 EURO – USD 1.359 __________________ Phil Bennetts Currency Exchange Service Foreign Currency Options Web Design Cornwall