Daily Market News 15 July 2011
Yesterday’s Market Movers
- There was no key data from the UK yesterday, resulting in little movement with GBP currency pairings.
- In the EU the only piece of data was the CPI which remained flat both MoM and YoY and saw very little movement as a result.
- In the US we had positive figures in the form of Retail sales and Initial Jobless Claims but a string of negative figures from Continuing Jobless claims and PPI seemed to show a return to risk aversion for the US as the USD strengthened slightly against the GBP and EUR. This was also due to the ratings concern for the US with the FTSE and banks sliding as investors put their money back into the safe-haven USD.
Today’s Market Movers
- The EU trade balance is expected to come out slightly worse than previous this month, which could see some Euro weakness as this could add to the pre-existing problems surrounding a number of EU Nations.
- In the US today the CPI figure is expected negatively MoM but not to such an extent that it is likely to alter any talks of QE3 happening at the moment.
- Also from the US today there are positive figures expected in the form of NY Empire State Manufacturing figure and also the Industrial production figures for June.