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- Underlying confidence in the UK outlook remained firm, although there will be some relative loss of support if the Euro-zone strengthens.
- Euro-zone data releases maintained an encouraging trend with a small increase in business confidence and German unemployment decline.
- US jobless claims data was weaker than expected with an increase to 313,000 in the latest week from a revised 282,000.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- Sterling maintained a firm tone on Wednesday with a test of fresh seven-year highs around 0.7310 against the Euro.
- There were further concerns surrounding the medium-term Greek outlook, especially with internal opposition to some proposed reform measures.
- US new home sales were slightly stronger than expected at an annual rate of 481,000 for January from 482,000 previously.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- In testimony to the Treasury Select Committee, Bank of England Governor Carney again stated that inflation could drop below zero over the next few months.
- Following the Greek government’s submission of its reform measures, there was a generally favourable reaction from key groups with the EU Commission.
- US data releases were generally encouraging in the services sector with an increase in the flash Markit PMI index to 57.0 for February from 54.2 previously.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- US existing home sales data was weaker than expected with a decline to an annual rate of 4.82mn from a revised 5.07mn previously.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- The only significant data release was much weaker than expected with a CBI retail sales reading of 1 for February.
- The German IFO index did rise for the fourth consecutive month, there was only a marginal increase to 106.8 from 106.7.
- Headline retail sales weaker than expected.
- Mixed Euro-zone PMI data releases on Friday.
- Slightly higher US manufacturing PMI release of 54.3 for February.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- Sterling maintained a firm tone on Thursday with the trade-weighted index close to six-year highs.
- Greek developments continued to dominate the European headlines on Thursday as Greece formally applied for a six-month extension to the current loan agreement.
- The latest US jobless claims data was better than expected with a decline to 283,000 in the latest week from 304,000 previously.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- The UK labour-market data was significantly stronger than expected with the claimant count falling by over 38,000 in January.
- The Greek situation remained an important focus on Wednesday amid expectations that the Athens government would apply for a bailout extension.
- Headline US producer prices data was slightly weaker than expected with a 0.8% monthly decline while core prices dipped 0.1%.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- The latest headline UK consumer inflation data met expectations with a further decline in the annual rate to 0.3% from 0.5%.
- German ZEW index rose to 53.0 for February from 48.4 previously which was the highest reading for 12 months.
- The New York Empire PMI index edged lower to 7.8 from 10.0 previously while the NAHB house-price index retreated to 55 from 57 previously.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- Markets will remain on alert for comments from Bank of England officials in the short term as the debate over interest-rate continues.
- Yesterday saw the important Eurogroup meeting taking place in Brussels.
- Yesterday was Presidents’ day, a national holiday, in the US and there were no major data releases.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
- Sterling was able to maintain a generally strong tone on Friday with a weaker than expected reading for construction output not having a significant market impact.
- GDP data for the Euro-zone data as a whole was stronger than expected at 0.3% from 0.2% previously.
- The US University of Michigan consumer confidence data was weaker than expected with a decline to 93.6 for the preliminary February data from 98.1.
- Morning Market Rates: (Please note: These are indication prices only, they are not offer rates)
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USD News
27/02/2015
US jobless claims data was weaker than expected with an increase to 313,000 in the latest week from a revised 282,000. In contrast, headl...
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