Latest Exchange Rates At Time Of Writing
Indicative Rates Sell Buy
GBPEUR 1.1511 1.1519
GBPUSD 1.6067 1.6071
EURUSD 1.3956 1.3956
Sterling had a very fine day yesterday. It was improved over the 1.154 level behind of some positive Manufacturing data which came out at 54.9 which was more than the assumed 53.3. The hopeless news came from Home track discharging their review showing that house prices have dripped and will likely persist to descend.
Nicolas Sarkozy is greeted to London today as David Cameron tries to progress relations between Paris and Berlin. The two leaders prepare to sign Anglo-French treaties which will consign the countries to advanced guard and nuclear co-operation.. It is clear that Cameron upkeeps hope that these meetings will plow the betterment of the relations and it going about it as sensibly as he can.
While the Fed’s meeting starts today and continues on Wednesday it seems the US are getting minute breather from the action. Producers did not look too badly affected by the swelling commodity rates and the weak dollar, this indication of power could root the Fed to be further vigilant in their meeting when it comes to additional QE, but is doubtful. Likewise, Construction Spending rose by 0.5% which bashed the market estimate of a dwindle by 0.5% but still seems to be going nowhere. Manufacturing was heated by the release of the Core Personal Consumption Expenditure, which crashed from down 0.1% for September and showed that personal incomes have slipped. It is the outcome of the Fed decision on QE, which will be in limelight for the next few days.
Today there was a brief explosion this morning with UK PMI Construction and the Eurozone PMI Manufacturing. Australia increased the interest rate to 4.75% from 4.50%, beginning an assault on its opponents.