Daily Market News 27 April 2011

 

Yesterday’s Market Movers

  • The only important piece of economic data came out yesterday from the United States in the form of US Consumer Confidence.  This figure came out a lot better than previously expected however this seemed to have little effect on the markets.  The Euro continued to stay strong against the dollar throughout the day this led to the pound losing some ground against the dollar because of high demand for Euros in UK banks.

Today’s market movers

  • The first piece of data out today is the UK Nationwide housing prices MoM and YoY. UK consumer confidence and US durable goods orders are due out today but as of yet there is no consensus for the expected results.
  • German CPI and GFK consumer confidence survey expected to come in line with previous. As Germany is one of the main economies in the Euro Zone this figure could help support the euro strength we are seeing at the moment.
  • From the Eurozone today we have Industrial new orders MoM and YoY both expected much better than previous, this is another figure out which could see the euro stay strong at its current levels as these figures show a strong euro economy even with the troubles some EU nations are having.

 Currencies 

 High 

 Low 

 Support 

 Resistance

 GBP/EUR

1.1349

 1.1229

1.1200

1.1305

 GBP/USD

 1.6532

 1.6429

 1.6400

1.6550

 EUR/USD

 1.4657

 1.4492

 1.4580

1.4700