Daily Market News 28 June 2011

Yesterday’s Market Movers

  • There was no data out in the UK or EU yesterday.
  • The only piece of data for the whole day was the personal income figures from the US. These came in slightly worse than expected, but in line with previous. This failed to have any real impact and saw a very narrow day of trading for the major currencies.

Today’s Market Movers

  • German CPI is the first figure to be released today and is expected at 2.3%, which is still showing overall growth.
  • The GFK consumer confidence survey for Germany shows a slightly negative outlook though. Both of these figures are unlikely to cause huge movements as all eyes are on Greek news towards the end of the week.
  • The big figure of the day is the UK GDP which is expected to have a significant increase from previous, moving back to some positive growth. This could see some sterling strength enter the markets.
  • The only figure worth noting for the US today is the consumer confidence figure although this is unlikely to have a big impact with a only a minimal change for the better expected from previous.