Daily Market News 14 July 2011

Yesterday’s Market Movers

  • From the UK we had claimant count rate and the ILO unemployment rate. Sterling dipped from the rise to 24.5k from 15.2k, this was the biggest jump in two years and this has been at its highest since March 2010. The pound fell against the Euro and the US Dollar from the back of this information in early morning trade. The ILO unemployment rate stayed in line at 7.7%.
  • From Europe we had the Industrial production (YoY) and (MoM) both came in lower than expected but had little effect as there was more information surrounding the European dept crisis. Slight support was given to the Euro as they have made firm comments a meeting will be held next week to help tackle the problem sooner rather than later.

Today’s Market Movers

  • From the EU early morning we have CPI MoM and (YoY) figures both are expected in-line with consensus so we may not see any movment on the Euro if this comes in as expected.
  • From the US today we have a mix bag of data; we have the PPI ex food and energy and PPI which will be closely looked at although they are expected to come in as expected. There seems to be more information surrounding the news from yesterday where Moody has suggested a downgrade and more QE3 is possible. As well as this from the US we have have Retail sales (MoM) and (YoY) the figures will help measure consumer spending in the US.