Daily Market Report 11/04/2014

GBP

The Bank of England unsurprisingly left interest rates at the historic low of 0.5% yesterday as well as keeping the current stimulus program at £375bn. Also there was no following statement made by the central bank.

As a result there was much muted reaction in the markets on the pound.

USD

The US dollar continued its slide yesterday despite the better than expected job data which showed that the number or people filing for jobless claims fell by 25,000 last week.

The US dollar continued to be under pressure following Wednesday minutes from the Federal Reserve where the central bank dampened expectations of an interest hike occurring any time soon.

Key Announcements:

13.30pm – USD – Producer Price Index (Mar): Expected to increase to 1%.

14.55pm – USD – Reuters/Michigan Consumer Sentiment Index (Apr): Expected to rise to 81.