Daily Market News 11 July 2011

Friday’s Market Movers

  • On Friday morning the UK published its PPI figures. Three of the four figures were better than expected and than previous. Sterling increased against the dollar after bad figures regarding the US economy.
  • The German Trade Balance figure appeared better than expected and better than the last month. But, for the moment in the Euro zone any economic figure could move the Euro significantly because of inquiries about Greece, Portugal, Spain and Ireland. The Euro dropped against all of its counterparts. This is maybe because of investors who took benefits from the rise of euro after the ECB decision. The Euro is too risky for the moment on a long term view.
  • It was a bad day for the US on Friday with a lot of figures published but not coming out better than expected. Leading data such as Unemployment rate appeared higher than previous and the Non-farm payroll figure came in a lot lower than the expected 90K at 18K. These figures showed again that the growth of US economy is slowing down.

Today’s Market Movers

  • There is no fundamental data expected from the UK, EU or US today so any movements are likely to be derived from any continuing issues within any of the major economies.

GBP/EUR

GBP/USD

EUR/USD