Currency Market Update 09/04/10
Posted: Friday, April 09, 2010
by Phil Bennetts
Sat WorldWide
The Pound –Holds as some good U.K data released. House prices increased up 1.1% from the previous month. GDP increased by 0.4% and Interest rates have been kept to the record low of 0.5%. The BOE has also decided not for the time being to pump any more money into the economy under its quantitative easing programme. UK inflation rate fell to 3% in February from 3.5% the month before. The drop in the Consumer Prices Index (CPI) inflation rate was greater than analysts had expected. Retail Prices Index (RPI) inflation, which includes housing costs, remained unchanged at 3.7% in February. All this gave sterling a fairly stable position in the markets.
The Euro - European Central Bank President Trichet tries to bolster the Euro as he assures the markets that Greece will be able to pay its debts. Greece is his main concern at the moment as it is affecting investor's attitude towards the Euro. It is going to be an uphill struggle to regain the confidence.
DE Current Account (nsa)
DE Trade Balance
UK Input Prices (unadj)
UK Output Prices (unadj)
Live IB rates at 6.01 pm
GBP – EURO 1.1435
GBP - USD 1.526
GBP- AUD 1.646
EURO - USD 1.334
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