Daily Market News 7 Mar 2011

 

Market movers on Friday

  • The only piece of data from the UK on Friday was from the Halifax House price index, which came in both lower MoM and YoY. These figures had very little effect on the market as the Main Focus of attention was the US Non Farm Payroll
  • On Friday the US Non Farm payroll and unemployment rate was released. Both of these figures came out positive, with a substantial increase in the nonfarm figures from previous. This had an initial knee jerk reaction with risk appetite in the Market, with EUR/USD trading at a high of 1.4007. However as this was a fresh high it was risky to keep positions open going into the weekend hence the pair retreated back to the mid 1.38s after profit taking.
  • There was no data from Eurozone on Friday.

 

Market movers today

  • There is two pieces of data from the Eurozone today. The first being European Sentix Investor confidence, this is a survey to see whether there is confidence from investor into the euro zone. The expectations are 0.1 point above previous which may not be much of a market mover.
  • The final piece of data from the Euro zone is Trichet Speech which he maybe reiterating his view on a rate rise in the Eurozone due to the increase in oil prices.
  • There is no data from the UK or US today; however the markets may still need to pay close attention to the events in North Africa and Middle East.