Market Notes:
Economists warned that Britain’s public finances may end this year in a worse state than those of Greece, raising serious fears over the economic stability of the country.
The Federal Reserve has officially begun the US “exit strategy” from its emergency economic support measures of the past two years, raising the rate at which American banks can borrow money to 0.75%. However, bank lending in the US has contracted so far this year at the fastest rate in recorded history, raising concerns that the Federal Reserve may have jumped the gun by withdrawing emergency stimulus.
Currency speculators betting on a rise in US interest rates after the Federal Reserve’s decision to increase the rate at which it lends to banks. The dollar hit nine-month highs against sterling and the euro.
Watch the UK and US GDP release on Friday.
Daily Trends & Charts
Watch the Fundamentals!(GMT time)
Yesterday
German PPI: 0.8% vs. 0.4% exp.
German Flash Manufacturing PMI: 57.1 vs. 54.1 exp.
EU Current Account: 1.9B vs. -0.6B exp.
UK Retail Sales: -1.2% vs. -0.5% exp.
Canadian Core Retail Sales: 0.4% as exp.
US Core CPI: -0.1% vs. 0.3% exp.
TODAY
No important data
Tomorrow
German Business Climate at 09:00.
UK Inflation Report Hearings at 09:15.
US Consumer Confidence at 15:00.
Good Day!!!
“Trends for today” is presented by Danny Spivak
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