News and Reviews European Economic Zone

[mynameisandhy]

News and Reviews European Economic Zone

 

Post-Downgrade Greece Euro Degraded

Tuesday, May 10, 2011

 

The single European currency, the euro, still pinned at the range of $ 1.4330 on Tuesday (05/10). EUR experiencing decline correction in its day-to-4 in a row after the Greek debt rating downgraded, so the news is more and add anxiety to the debt crisis of the Euro zone.

And the inevitable condition helped encourage investors to avoid risky assets, causing more and more pressure due to the Euro investors continued to sell.

 

Parties Standard & Poor's cut its debt rating Greece to 'B' from previous 'BB-', which is reaching the category of "junk" amid the possibility of increasing the debt restructuring.

 

But the weakening euro is limited and had strengthened thanks to economic reports from Germany that showed exports surged up to 7.3% in March, so at least reinforce expectations for higher interest rates in the euro area.

[mynameisandhy]

Swiss Economic News and Reviews

 

Swiss Inflation Rate Still Low Pressure

Tuesday, May 10, 2011

 

Swiss inflation data today (10/05) relative relief to the government. The threat of inflation remains low recorded as reduction in price pressures. This certainly minimize the chances of rate hike the central bank in Switzerland next month. The consumer price index (CPI) rose 0.1% for April, lower than forecast 0.5% and previous publications (0.6%).

 

"Inflationary pressure is reduced due to the strengthening of the Swiss franc which had offset the effects of oil prices," said Alessandro Bee, an economist at Bank Sarasin & Cie. The price of clothing and oil recorded an increase of 1.8% and 1.7%, but can be offset by the price of food and beverages affordable. "Although inflation is low, but still there is the recovery trend of rising prices over the labor market," added Bee.

 

Swiss National Bank will hold a meeting June 16, where economists still have not determined whether interest rates will be raised for the first time in four years. SNB President Philipp Hildebrand said that although inflation has been low, but there is a risk due to rising oil and food prices. Visible increase in inflation expectations, but still remain within the range of price stability. Hildebrand commented.

 

Meanwhile, the franc weakened in the London session, weighed down by inflation report Switzerland. Nevertheless, the weakening may be limited due to high demand for safe-haven assets amid the euro-zone debt crisis and unrest in the Middle East & North Africa.

[mynameisandhy]

Greek Economy News and Reviews

 

Flood Action Demonstration Athens

Wednesday, May 11, 2011

 

Greece threatened the economy stagnated due to mass demonstrations today (11/05). Government offices were closed and many flights delayed after massive protests occurred in Athens in the last 24 hours.

Demonstrations were held in line inspection visit EU officials, who are studying the country's balance sheet. The protests spearheaded by the union government and the private sector so that some general fasiilitas forced vacuum. Schools and public transport faltered, while hospitals and ambulances are operated only by a few employees. Bank, pharmacy and museums were closed, including serviceability lawyers and machining services.

 

Some ships also left dormant throughout the country. The aircraft did not operate from noon until 4 pm. Citizens increasingly isolated from the information because of journalists, radio, television and newspaper journalism does not run the routine.

 

All holiday elements to oppose the budget cuts of around 23 billion euros by the year 2015. Aedy and GSEE trade union representing 2.5 million workers, or half the total human resources in Greece. There are currently no solution for the government to appease the masses. Moreover, Greece now has an extra burden, an injection of new funds needed to meet the financial needs for next year.

[mynameisandhy]

News and European Economic Review (UK)

 

GBP / USD - Scenario Governor King For Pound

Wednesday, 11 May 2011

 

British Pound is the currency with the worst performance in today's trading. The British pound was under surveillance in a large number as the market begins to suspect the potential for economic downgrade by the Bank of England.

 

Comments from Bank of England Governor Mervyn King tomorrow will bear many burdens on the overall price movement of the British Pound. There are two key statements that get special attention from the market.

 

Inflation 1.Data

 

A. Scenario 1 - Mervyn King said that inflation will continue to increase during the year, but will fall as heading into 2012. The following statement will maintain the status quo of weak markets and pressure on the Pound.

 

B. Scenario 2 - It is not possible, but if Mr. King stated that they see inflation remain at high levels for long periods, the market likely to interpret it as a possible clue rate hike comes at the end of the year. (Pound positive)

 

Economic 2.Perspektif

 

A. Scenario 1 - As the market anticipates, BOE downgraded the economic growth perspective for this year and next. The status quo will remain as the market has applied existing information.

 

B. Scenario 2 - It is not possible, but if the BOE does not budge with the decline in the economic outlook, a positive reaction will be felt for Pound. (Pound positive)

 

On a technical perspective, the currency pair remains in a relatively tight intermediate uptrend. However, if negative continue to survive, support from the channel can be tested. Support is currently fixed at the bottom of the channel which also coincides with the Standard Deviation to-2 at 1.4250. Resistance is currently floating on the 20 period moving average at 1.6500.

[mynameisandhy]

Greek Euro chaotic overload, Shutter Under $ 1.42

 

Thursday, May 12, 2011

 

The single currency Euro look is still difficult to get out of his negative territory on Thursday as uncertainty about when giving additional aid to Greece, raising concerns that the country needed once the debt restructuring.

 

While the Greek community protests against the bailout process is precisely manambah unrest among foreign investors so it looks still much to remove the Euro currency. This condition is likely to continue to push the Euro to below the level of $ 1.42.

 

In Greece, police were forced to have fired tear gas to tens of protesters in downtown Athens that intends to stop the talks between the European Union, the IMF and the Greek government on the bailout package.

 

Senior officials of the European Union along with observers from the IMF to meet Finance Minister George Papaconstantinou to assess the readiness of Greece to meet the requirements in order to obtain additional funding from the European Union and the IMF

[mynameisandhy]

The euro weakened against the dollar to 3 Weeks Related Lowest Greek Debt Crisis

 

Thursday, 12 May 2011

 

Recent concerns about the debt of Greece and the latest sell-off in commodity markets make the euro sharply lower on Wednesday, with the risk of falling more is possible.

 

 

Currency euro zone fell to a three-week lows against the U.S. dollar, penetrate below the moving average of 50 days about $ 1.43, which traders tend to take this as a sign of more fallout to come.

 

The fall of the euro, just a week after reaching a 17-month high against the dollar above $ 1.49, accelerated after the steep fall of stocks and commodities causing panic to-safe haven

dollars.

 

Speculation about whether Greece would receive more funding bailout continues to increase the volatility of risk appetite as investors continued to price in a high probability that Greece will ultimately need to restructure its debt.

 

The euro last traded down 1.4 percent at $ 1.4201 after hitting a session low at $ 1.4172 on trading platform EBS, the lowest since April 18.

 

Weakness in the euro helped push the dollar index, which measures the greenback against a group of major currencies, to 75.308 DXY, up 0.9 percent on the day. Against the yen, the dollar rose 0.2 percent to? 81.01.

[mynameisandhy]

News and Reviews European Economic Zone

 

Euro Debt Problems Still Haunted Greece

Friday, May 13, 2011

 

At this weekend's Euro still has not moved from the negative zone with sluggish movement in the range of $ 1.42-an.

Euro depressed mainly because it is still overshadowed by the problems the euro-zone debt along with the increasing anxiety of the Greek ability to pay its debts. While the uncertainty of Athens to obtain additional bail-out funds to encourage investors to examine the possibility of debt restructuring of the Greek state.

 

But yesterday the Euro was raised from 6-week lows against the U.S. dollar-related comments from ECB officials who said the rate hike in April and "not the" sole.

 

ECB officials on Thursday Luc Coene told Reuters, the threat of inflation in the euro zone has increased and price pressures continue to grow so that it can be a foundation to raise interest rates further.

[mynameisandhy]

UK Economy News and Reviews

 

Economy Could Drag fragility of Sterling to $ 1.6050

Friday, May 13, 2011

 

Sterling slumped back in the area of ​​low level in three weeks against the dollar due to gloomy prospects for the state production sector after data released yesterday industrial production and manufacturing sector that does not meet market expectations.

Manufacturing production rose only 0.2% in March, lower than the predicted 0.3%. Meanwhile, industrial production increased 0.3%, but is not optimistic estimate of 0.8% although this figure is still better than the publication February fell 1.2%.

 

With the release of this data, of course, reduce the rising expectations of the revised British economic growth in the first quarter of 2011.

 

Meanwhile, according to James Knightley, economist at ING, which slows the production rate of course is another warning against the fragility of the British economic recovery. And he thought of the technical analysis shows daily closing below the Moving Average MA-55, at the level of $ 1.6287, is likely to unlock the potential of weakening further until toward the area of ​​$ 1.6050 trendline.

[mynameisandhy]

Euro Walking in the middle of the Financial System Reform and Market

 

Monday, May 16, 2011

 

European Central Bank Governor Jean-Claude Trichet said on Friday the regulator is running through reforms to strengthen the financial system and ensure it makes a sustainable contribution to growth.

 

He said regulators have reached a blueprint that strict bank regulation which includes the loss-absorb more capital, better risk coverage and limitations for undue leverage.

 

Trichet said there had been strengthening supervision of financial systems and markets and market infrastructure, and reform of financial supervision is in progress. Supervision of financial markets should avoid excessive volatility, excessive influence of the dominant players and oligopolistic market structures, while strengthening transparency must be addressed, he said.

 

In an interview with Intereconomia Trichet also said Spain has obtained credbility through labor market reforms.

 

Euro zone moves in the negative pressure range at a low level areas in 6 weeks against the dollar below $ 1.41 related to dovish comments from ECB president last Friday increasingly deepening decline in the euro which has been hit hard by the Greek state debt problems.

[mynameisandhy]

News and Reviews European Economic Zone (UK)

 

UK Annual Inflation Rate Up To 4.5% In April

Tuesday, May 17, 2011

 

UK inflation accelerate to 4.5% in the year to April, official statistics showed on Tuesday (17 / 5), driven by to higher travel costs for the UK abroad during the Easter holidays.

 

The increase in inflation - after a surprise fall last month - will be renewed pressure on the Bank of England (BOE) raised its benchmark interest rate.

 

Office for National Statistics (ONS) said on Tuesday in the UK inflation as measured by the consumer price index, rose to 4.5% in the 12 months to April from 4.0% in March. Economist dipolling Dow Jones Newswires expected inflation will rise to 4.2% this year.

 

Inflation rose 1.0% month to month the second time since 1996, inflation has risen so much in a month.

 

ONS said the rise in inflation driven by rising costs transportai, an increase in excise duty on alcohol and higher rents for social housing.

 

An ONS official told reporters when the Easter holidays affect when the ONS data collected on the price, and it was noted to higher rates sharply in the air, sea and international rail tariffs. Air fare up 29% between March and April, said the ONS.

 

ONS added core inflation, except for items volatility such as alcohol, tobacco and energy, touching a record high at 3.7% in the 12 months to April.

[mynameisandhy]

News and Reviews European Economic Zone

 

EU Deadlock, EUR Extend Bearish

Tuesday, May 17, 2011

 

In general, the movement of the single currency euro is still in a state of distress in the middle atmosphere that enveloped the market trading misgivings on Tuesday.

 

Market participants expect the bearish sentiment in the Euro seems to continue considering the EU meeting on Monday did not produce significant progress in the settlement of the Greek crisis, which is struggling to meet the requirements of the bailout program of the European Union / International Monetary Fund.

 

While the arrest of President of the IMF, Dominique Strauss-Kahn, on charges of sexual assault has sparked speculation vacancy peak position in the IMF and increase uncertainty over the outlook for the Eurozone financial aid. And these conditions trigger the limited Euro rally to get out of negative territory.

[mynameisandhy]

News and Reviews European Economic Zone (UK)

 

UK Annual Inflation Rate Up To 4.5% In April

 

Tuesday, May 17, 2011

 

British Inflation accelerating to 4.5% in the year to April, official statistics showed on Tuesday (17 / 5), driven by the UK to higher travel expenses abroad during the Easter holidays.

 

The increase in inflation - after a surprise fall last month - will be renewed pressure on the Bank of England (BOE) raised its benchmark interest rate.

 

Office for National Statistics (ONS) said on Tuesday in the UK inflation as measured by the consumer price index, rose to 4.5% in the 12 months to April from 4.0% in March. Economist dipolling Dow Jones Newswires expected inflation will rise to 4.2% this year.

 

Inflation rose 1.0% month to month the second time since 1996, inflation has risen so much in a month.

 

ONS said the rise in inflation driven by rising costs transportai, an increase in excise duty on alcohol and higher rents for social housing.

 

An ONS official told reporters when the Easter holidays affect when the ONS data collected on the price, and it was noted to higher rates sharply in the air, sea and international rail tariffs. Air fare up 29% between March and April, said the ONS.

 

ONS added core inflation, except for items volatility such as alcohol, tobacco and energy, touching a record high at 3.7% in the 12 months to April.

 

Retail price index, an alternative measure of inflation, dropped to 5.2% from 5.3% in March, said the ONS.

[mynameisandhy]

Euro Up But Vulnerable In Greek Debt

 

Wednesday, May 18, 2011

 

The euro strengthened against the U.S. dollar in volatile trade on Tuesday, but remains vulnerable to losses relating to how to restructure the debt of Greece is very large.

 

European finance officials expressing high on Tuesday and admitted for the first time that Greece may have to restructure its debt, a move which could trigger a debt crisis of European countries.

 

Speaking on the sidelines of the meeting of EU finance ministers, Jean-Claude Juncker, chairman of the Eurogroup of 17 countries, says there is a need to move towards the so-called "soft restructuring" of Greece's debt.

 

European finance ministers approved a package of financial aid to Portugal on Monday, but Greece's debt situation remains a significant wild card. A Greek debt restructuring could erode the credibility of the euro zone.

 

Key EU officials including German Chancellor Angela Merkel strongly against the euro zone sovereign debt restructuring. Merkel on Monday said such a scenario could cause a massive flight of investors from the euro zone bonds.

 

The euro traded up 0.6% at 1.4234 in early this morning, recovering from seven-week low around 1.4048 which is created on Monday. Some traders said that while he was under the moving average of 55 days at 1.4280, the euro is still vulnerable to reexamine the recent low.

 

This morning, the euro still continued to move strengthened at 1.4265.

 

Level 1.40 has made the euro received support by buying from central banks and hedge funds.

 

Yen, meanwhile, fell broadly in line Toshiba Corp. reportedly nearing a deal to buy Switzerland-based company Landis + Gyr and media reports said Takeda in advanced talks to buy Nycomed is also based in Switzerland, this development is seen as a catalyst to sell yen.

 

The euro rose 1.3 percent to 115.80?, While the Swiss franc rose 0.5 percent at 91.86?. Dollar rose to 81.34?, Rose 0.7 percent.

 

Euro reaches 17-month peak near 1.4940 in early May, supported by market expectations that the European Central Bank will raise interest rates further in coming months, while the Federal Reserve is expected to keep interest rates near zero this year.

[mynameisandhy]

European Stock Down; Commodities Support

 

Thursday, May 19, 2011

 

European stock markets opened higher Wednesday, supported by firm commodity prices and the IPO well received by Glencore.

 

If the U.S. IPO by LinkedIn that came out today to prove he was as successful, the index may have upward pressure further, traders said. However, gains may be limited by concern over the arrest of the International Monetary Fund chief Dominique Strauss-Kahn and a power vacuum at the moment due to the IMF must deal with the debt crisis of Europe.

 

At 0750 GMT, Europe's Stoxx 600 Index 0.1% higher at 278.37, the FTSE 100 rose 0.3% at 5940.22, Germany's DAX rose 0.6% at 7343.96 and France's CAC added 0.4% on 3993.78.

 

In company news, stock sales were well received by Glencore helped mining stocks basis, although for metal mixed session in Asia overnight. Glencore last traded at 545 pence, compared with an IPO price of 530 pence. Eurasian Natural Resources led the FTSE 100, gaining 2.7%, Lonmin followed, adding 2.1%.

 

In England, National Grid rose 2.2% after the annual report figures please investors.

 

Still in the release of data, UK retail sales due on 0830 GMT, UK CPI industry trends at 1000 GMT and U.S. existing home sales at 1400 GMT. In addition, the Philadelphia Fed index will be due at 1400 GMT.

[mynameisandhy]

News and Reviews European Economic Zone (UK)

 

UK Retail Sales Heat Up Due to Weather, Wedding King

Thursday, May 19, 2011

 

British retail sales rose more than expected in April as an additional holiday for the wedding of the king and very hot weather in that month at a record boost sales of food, clothing and shoes, official data showed on Thursday (19 / 5).

 

The volume of retail sales include fuel rose 1.1% from March and rose 2.8% from April last year, said the Office for National Statistics (ONS). That suggests the increase month to month in April, the strongest since 2002, he said.

 

Economists expect sales rose 0.7% on a monthly basis and 2.4% on an annual basis in April, according to Dow Jones Newswires survey last week. In the revised sales in March rose 0.3% in the month and 1.1% in the year.

 

Factors triggering extraordinary sharp-than-expected increase in sales seems to reduce the impact of data on expectations for higher interest rates the Bank of England (BOE).

 

ONS said the bank holiday special on April 29 to celebrate the marriage between Prince William and Kate Middleton may encourage sales. Anecdotal evidence also showed sales of clothing and footwear benefit from good weather.

 

Sales of textiles, clothing and footwear rose 2.2% in the Master, who along with June 2009 was the sharpest increase since August 2008.

 

For the first time in 15 months, the food sector, especially the rise in year to year, increased 1.4% in April. On a monthly basis, food store sales rose 2.2% in particular, the sharpest increase since May 2008, the ONS said.

 

Sales in the category of other stores also rose 4.3% in the year, dogerakkan by garden centers, sporting equipment and toys, said the ONS.

[mynameisandhy]

News and Reviews European Economic Zone (Germany)

 

German PPI Rise 1% In April

Friday, May 20, 2011

 

(Reuters) producer prices in Germany, a country with Europe's biggest economy, rose at a faster pace in April and on-year, driven by higher energy prices, the Federal Statistics Office said on Friday.

 

Producer prices rose 1% in April from March and 6.4% from a year earlier, according to statistics office Destatis.

 

Figures higher than Dow Jones Newswires survey, where economists had forecast an increase of 0.7% from March and prices rose 6% from the previous year.

 

Statistical Office said that energy prices accounted for much annual rate increase for the month of April. Energy prices rose 11.8% from March and 2.6% from the prior year period.

 

Excluding energy, producer prices rose 0.4% on month and 4.2% from a year earlier, Destatis said.

[mynameisandhy]

News and Reviews European Economic Zone

 

Friday, May 20, 2011 18:46

 

Surrender of the strengthening euro earlier in European markets on Friday as rumors of the sale of the euro currency in large numbers, as well as concerns over protests against the fiscal savings in Spain.

 

 

Observed by far the pair EUR / USD traded at 1.4220 level, down -0.62%. Protests in Spain again remind potential investors that may be suffered by the dominoes European region is still possible if policy makers fail to resolve the debt problems of Greece.

 

Based on technical studies, intraday bias is still bearish after failing to penetrate above the 1.4395 level, to re-test the 1.4200 level. Fell below that area is a sell signal targeting 1.4140 area. Nearest resistance in the area 1.4280 - 1.4305 - 1.4336.

[mynameisandhy]

News and Reviews European Economic Zone

 

Mountain erupts in Iceland, Europe Flight Alert

 

Monday, May 23, 2011

 

A volcano erupted in Iceland on Saturday night, forcing international airlines to divert their flight paths away from the island nation, according to weekend media reports.

 

Grimsvotn volcano, the most active in Iceland, located about 90 miles (145 kilometers) southeast of the capital, Reykjavik, the report said. The volcano last erupted in 2004.

 

Icelandic aviation officials ordered the planes to fly outside the zone of 120 nautical miles (220 kilometers) in all directions around the volcano, located on a glacier, the report said.

 

In April 2010, the eruption of another volcano in Iceland to stop the 100,000 flights first six-day eruption, Bloomberg News reported.

 

Analysts predict volcanology ash from this eruption may spread to several European countries, like Britain, France and Spain in a few days to a week. However, they also predict that the spread of ash was not as severe this time than before because the wind is more compromising situations.

[mynameisandhy]

News and Reviews European Economic Zone (France)

 

French Business Growth Slows In May - Survey

Monday, May 23, 2011

 

French private sector growth solid despite slightly weaker pace in May than in April, by reducing manufacturing activity more than expected to a four-month lows, preliminary results from a monthly survey by Markit showed Monday financial company information

 

Combined flash output readings France Index, a measure of activity based on the results of some surveys of manufacturing and service company, fell to 60.5 in May from 10-and-half-year-high of 62.4 in April. A reading above the neutral level of 50 indicate expansion of activity.

 

Markit said the manufacturing Purchasing Managers' Index fell to 55.0 in May from 57.5 the previous month, while services activity index dipped to a two-month low 62.8 from 62.9 in April.

 

Economists expect the manufacturing PMI reading of 57.0 and the services sector index fell to 62.0, according to Dow Jones Newswires survey last week.

[mynameisandhy]

News and Reviews European Economic Zone (Germany)

 

Weak German Private Sector Growth In Seven Months

Monday, May 23, 2011

 

German private sector activity grew at the slowest in seven months in May, a survey of purchasing managers at manufacturers and service providers showed.

 

Markit Economics said Monday that the composite Purchasing Managers Index for Germany fell to 56.4 from 59.2 in April. Reading above 50.0 indicates activity expanded.

 

PMI for the manufacturing sector fell to 58.2, six-month low, from 62.0, and PMI for services fell to 54.9 from 56.8, marking the weakest pace of expansion in eight months.

 

Economists surveyed by Dow Jones Newswires last week expect an increase in the services PMI and less marked slowdown in manufacturing.

[mynameisandhy]

News and Reviews European Economic Zone (France)

 

French Business Sentiment May 107 Vs 109 In April

Tuesday, May 24 2011

 

French business sentiment unexpectedly worsened in May, by measuring the final production dragged down the indicator, the data showed Tuesday

 

Sentiment in the manufacturing sector fell to 107 109 in May from April, says national statistics office Insee. Economists expect the data remains unchanged at 109, according to Dow Jones Newswires survey.

 

Total April was revised down to 109, after reading the initial 110.

[mynameisandhy]

News and Reviews European Economic Zone (UK)

 

GBP Fall Along About Ratings Moody's reviews Bank

Tuesday, 24 May 2011

 

GBP down, signifying a new low today against the JPY after Moody's said the review rating of British financial institutions selected for a possible fall.

 

After touching a new intraday low at 131.43, down from around 131.75 before the announcement of Moody's, the next important test for the crossing would be around 131.00, said a trader in Tokyo.

 

If the level is exceeded, could signal a bearish pressure increased, they said. Due to reports on Sky News earlier today said that Moody's would make that step that could limit the impact of long-term statement.

 

GBP / USD also fell and was at 1.6096 from the previous high around 1.6106 before the announcement.

[mynameisandhy]

News and Reviews European Economic Zone (Germany)

 

Possible German Business Confidence Falls in May

Tuesday, May 24, 2011

 

German business confidence probably fell for the third month in May after a debt crisis worsened doubt the euro area growth prospects and rising energy costs threaten profits.

 

Institutions that measures the business climate index, Ifo, based on a survey of 7000 executives, fell to 113.7 from 114.2 in April, the median estimate of 24 economists in a Bloomberg News survey showed. Ifo report released today at 10 am in Munich.

 

German economy, the largest in Europe, may struggle to maintain the momentum of growth which the government strengthens the euro zone savings measures to lower the budget deficit, while soaring energy costs squeezing household income. German investor confidence dropped more than economists forecast in May.

 

"Even if the Ifo fell from the stratosphere, the German business managers are still quite optimistic about the future," said Jens Sondergaard, senior European economist at Nomura in London. "That should support investment in the next few quarters, even while German exports take a hit from the global growth momentum is fading, while higher oil prices will complicate income, making consumption weaker."

 

Ifo estimates about the current situation slid to 120.7 from 121, while the index measuring expectations for executives may come down to 107 from 107.7, a Bloomberg survey showed.

[mynameisandhy]

News and Reviews European Economic Zone (Germany)

 

June GfK German Consumer Sentiment At 5.5 Vs 5.7 in May

Wednesday, May 25, 2011

 

German market research group GfK's consumer climate index review is set to fall further in June, due to high energy prices and a worsening debt crisis of the Greek reduce consumer sentiment, the Reuters news agency said Wednesday.

 

Index in June is set down to 5.5 points from 5.7 points in May.

 

This figure is below the projection of economists by 5.6 points in a survey by Dow Jones Newswires.

 

Overall GfK consumer climate index refers to the next month, but the sub-indices - economic expectations, income expectations and propensity to buy - see the current month.

 

Third subindexes fell in May for the third consecutive month.

 

Economic expectations index fell to 46.1 points from 47.3 points in April.

 

Income expectations index fell to 25.9 points from 35.0 points, while the propensity to buy fell to 31.5 points in May from 34.2 points in April.

[mynameisandhy]

News and Reviews European Economic Zone (UK)

 

Sterling Recovers Thin, Focus Switches to GDP

Wednesday, May 25, 2011

 

Sterling moved in the range of recovery on Wednesday after rebounding from yesterday had a low level in the last 7-week against greenback sparked by short covering action of market participants.

 

Action which also involves the trader is motivated by the news of the agency Moody's is threatening to downgrade some banks in the UK. While thin Euro appreciation against the dollar also helped boost the pound.

 

Previously, the Pound has ignored the release of data showing the amount of public debt is the worst in April. Investors are also not much to react to comments from BoE officials, Paul Fisher, who said has had little evidence that the risk of growing inflation threat.

 

Today investors waiting for the emergence of first quarter GDP growth figures (Released 2nd GDP q / q and y / y), which had been due to appear at 15:30 pm with expectations are the same as the previous figure of 0.5% for the q / q and 1.8% for y / y