It was a quiet start to the week yesterday with the major pairings lacking any real direction. The markets received some more concerning news regarding the eurozone growth situation, as the final services growth figure for February was revised downwards. The UK services sector growth figure also disappointed yesterday, but sterling was unaffected.
Today’s calendar is pretty empty and the market is likely to be increasingly preoccupied with rumours out of the Greek debt swap talks as Thursday’s deadline draws closer.
STERLING/EURO: A poor UK services figure fails to dent the pound with sentiment towards the UK economy a little firmer now.
STERLING/US DOLLAR: Sterling is trading sideways against the US dollar, though risks remain to the downside.
STERLING/US DOLLAR: Sterling is trading sideways against the US dollar, though risks remain to the downside.
EURO/US DOLLAR: The euro is looking vulnerable this week, all signs are pointing to a decline as far as we are concerned.
STERLING/AUSTRALIAN DOLLAR: This pair is trading at its highest point since early January thanks to dovish comments from PM Gillard.
STERLING/NEW ZEALAND DOLLAR: Sterling enjoyed a three cent climb against the kiwi dollar as the lowered Chinese growth targets continue to weigh on sentiment.
STERLING/NEW ZEALAND DOLLAR: Sterling enjoyed a three cent climb against the kiwi dollar as the lowered Chinese growth targets continue to weigh on sentiment.
STERLING/CANADIAN DOLLAR: Sterling is on an uptrend against the Canadian dollar, though progress is likely to be slow.
