Daily Market News 14 June 2011
Yesterday's Market Movers
- Rather a quiet day yesterday with no data out and several bank holidays across Europe.
- In the evening, Standards and Poor downgraded once again Greece’s rating but we didn’t see the Euro weaken a lot on the back of this information. Indeed, with several positive figures for China this morning, dollar has been weakening against euro and sterling with a growing risk appetite.
Today's Market Movers
- In the UK this morning (9.30), RPI and CPI are expected. Both indexes are expected to come down MoM. YoY, we should see RPI come slightly up but CPI should remain stable at 4.5. CPI being a major indicator of inflation, we could see sterling weaken a bit as an interest hike from BoE is looking unlikely in the next months.
- In the afternoon, we will see PPI and retail sales coming out from the US. Both figures are expected down with PPI at 0.1% from 0.8% and Retail sales falling at -0.3% from previous 0.5%. On the back of this information, we could see further dollar weakness especially if retail sales come out worse than expected.