Daily Market Report 22/04/2014

USD

Data revealed yesterday showed that economic activity increased in March from 0.5% to 0.8%.

However the data did little to stop the US dollars continuing weakness with GBPUSD gaining another 0.2% to reach the highs of November 2009.

EUR

Construction output for the single bloc area slowed in February to 6.7% from output of 8% in January.

The news weighed on the euro with GBPEUR climbing to a new 2 month high.

Today

The US will be in focus this afternoon with existing home sales set to fall from 4.6m in February to 4.55m in March. Manufacturing output in Richmond is set to have improved in April however.

Key Announcements:

15.00pm – USD – Existing Home Sales (Mar): Expected to have declined to 4.55m.

15.00pm – USD – Richmond Fed Manufacturing Index (Apr): Expected to have improved from -7 to 0.