Sterling Sterling suffered a worrying blip yesterday as it was falsely reported that the Bank of England were announcing a Long-Term Refinancing Program (LTRO). After this was disproved sterling resumed its upward course against both the Greenback and the Single Currency. Today the UK releases of note are: Manufacturing Production, a Credit Conditions Survey, Trade Balance, and Industrial Production. Euro The Single Currency had a mixed day yesterday as it remained roughly flat against the dollar and lost out against the pound. This came after economic releases were equally indecisive: German Trade Balance came in better than expected, however, German Factory Orders missed estimates. Today we have German Industrial Production and a speech from ECB President Mario Draghi. Dollar The Greenback is still suffering due to the US Government Shutdown. Some better releases yesterday could do little to alter the mood surrounding USD as political bickering continued in Washington. There are a number of mid-tier releases today; although, dollar rates will still largely depend on how political events influence sentiment.
Posted on: Wed, 09 Oct 2013 08:15:31 +0000
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