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)
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.
No important data
German Business Climate at 09:00.
UK Inflation Report Hearings at 09:15.
US Consumer Confidence at 15:00.
“Trends for today” is presented by Danny Spivak
None of the information contained herein constitute an offer to purchase or sell a financial instrument, or to make any investments. Finexo does not take into account your personal investment objectives or financial situation and makes no representation and assumes no liability to the accuracy or completeness of the information nor for any loss arising from any investment based on a recommendation, forecast or other information supplied from any employee of Finexo, third party, or otherwise. All expressions of opinion are subject to change without notice. Any opinions made may be personal to the author and may not reflect the opinions of Finexo