Daily Market News 30 June 2011

Yesterday’s market movers

  • The Housing market in UK has gained confidence with the increase of mortgage approvals and credit consumers yesterday but this failed to have any real impact on the pound.
  • Consumer confidence index was higher than expected for the EU and the first round of the austerity vote in Greece occurred and we have already seen that the Euro strengthened against its counterparts.
  • There was no important data out of the US yesterday.

Today’s market movers

  • There is no important data due out in the UK today
  • German retail sales figures are expected lower than previous and this afternoon the figures of Germany unemployment will be released.
  • The key fact today is the second round and final decision of the austerity vote in Greece which is settled at 1p.m today. We could see some Euro strength follow this although given the focus recently it appears that this may have been priced into the markets already.
  • In the US today Jobless claims are expected slightly better than last month and we could see some movements for the USD off the back of this positive information.