The pound enjoyed a positive finish to the end of last week as brighter investor sentiment boosted riskier assets. Sterling’s gains were capped somewhat as the single currency was still benefiting from the Swiss central bank’s decision on Thursday to weaken their currency, with investors buying into the euro. The pound benefited from some confidence returning to the market as there was the belief that large US banks may be able to survive without nationalisation. Nonetheless, the economic picture in the UK remains poor with unemployment set to surge over the two million level this week, with official figures expected to confirm that unemployment has risen by almost 176,000 in the three months to January.
There are no major announcements due in the UK today, whilst within the eurozone, investors will be particularly interested in the consumer price index figures being released, giving an indication of inflation, and the employment change data due this morning.
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