Daily Market News 13 June 2011

Yesterday's Market Movers

  • Friday saw a surprisingly quite day in the UK despite three key pieces of data from Industrial production, manufacturing and PPI. All three pieces of data came out lower and went a long way to go to show that the BoE will remain firmly behind the curve despite any data that’ll give sterling any positivity over the next few months.
  • The only piece of data from the euro zone on Friday was from Germany’s CPI, where we saw only a small drop in the MoM and YoY. This saw very little movement in the euro in early morning trade as most of the attention is turned to the possible second bailout of Greece and sovereign debt concerns.
  • There was no data in the United States on Friday, however the risk on trade came into force in a big way in afternoon trade in London as concerns weighed down by a combination of Greek debt worries and a drop in oil prices saw the greenback trade as high as 1.4380 against euro, and 1.6213 against the British pound.

Today's Market Movers

  • There is no data to report from all three economies today, the main pieces of data from the economies during the week are, CPI from the UK and US midweek. Whilst UK and US retail sales are out throughout the week.

GBP/EUR

GBP/USD

EUR/USD