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Yesterday’s losses for global equities have been stemmed in early trading today, with London’s FTSE 100 opening up by a quarter of a percentage point. Fears over the latest eurozone summit, due to take place later this week, (injuries and illness permitting), took the edge off global appetite for risk yesterday, but with institutional...

A busy schedule of UK data releases on the day saw a decidedly mixed bag of results for the British economy. This morning’s UK Manufacturing data provided a real lowlight, revealing that activity in this key sector of the British economy contracted by some 0.7% between March and April of this year. On a more positive note, this...

Once again, the euro has hogged the currency market headlines on the day. This time, it was the voice of a ghost from the past which haunted the single currency, as former Greek Prime Minister Lucas Papademos stated that he believed that the troubled Hellenic state was making practical arrangements to leave the eurozone. This has seen share...

Weak UK House Price data in the form of the latest Halifax survey, barely affected levels on the POUND STERLING on the day. However, figures showing that sales of new cars in Britain showed an annualised increase of 3.3% last month, provided a chink of hope, meaning that Sterling heads for the weekend close on a NEUTRAL TO POSITIVE...

The US DOLLAR has been well-supported in the currency markets on the day, following the release of disappointing Q1 Chinese GDP Growth numbers overnight, which triggered a move into safe haven currencies by institutional investors. Losses for global equities have helped the Greenback on the day and the USD is expected to trade on a NEUTRAL TO...

Last night’s nationwide Consumer Confidence survey for February hurt the POUND STERLING, showing a drop-off in sentiment from the month before. Next Wednesday’s finalised Q4 GDP Growth data for the UK economy is the next risk event of note for the GBP, meaning that Sterling heads into next week on a NEUTRAL footing. Some positive...

There was a blow to the UK’s ego earlier today, when official figures showed that Brazil had overtaken Britain as the sixth largest economy in the world. There was more damaging news for the POUND STERLING with the release of this month’s Halifax House Price survey, which showed a surprise contraction in UK property prices last month....

POUND STERLING This morning’s UK CPI Inflation data for January showed that the rate of British price rises is cooling significantly. The drop-off in price rises has been attributed to the VAT rise of January 2011 working its way out of the twelve month rolling figure – whatever the reason, it makes a Bank of England interest rate...

The Pound Euro exchange rate GBP EUR is trading at 1.19103, up 0.26%. The Pound Dollar exchange rate GBP USD is trading at 1.58121, down 046%. The Pound Australian Dollar exchange rate GBP AUD is trading at 1.47474, up 0.42%. The Pound New Zealand Dollar currency rate GBP NZD is trading at 1.89789, up 0.22%. The Sterling Swiss Franc rate GBP...

POUND STERLING Today’s session saw the Pound perform tamely against the other majors, with the notable exception being the US Dollar. This morning’s CBI Reported Sales data for January came out significantly worse than anticipated, adding to downside pressure for Sterling. NEAR-TERM OUTLOOK – NEUTRAL TO NEGATIVE. US DOLLAR –...