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Posted April 23rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 23th April 2012

EURO/GBP – 1.2228

Sterling had a strong start to the day on Friday strengthening against the majority of currencies as monthly retail sales figures came in much better than anticipated, with sterling reaching a 6 month high against the US dollar of 1.6140. This week’s main releases include figures for public sector net borrowing and the preliminarily quarterly GDP data which investors hope will be positive following Fridays upbeat retail sales figures. Call in now for a live update and a live quote.

The Euro had a very strong day on Friday strengthening against the majority of currencies as German IFO business climate figures came in much better than expected. Contrary to this positive sentiment, Spain’s benchmark 10 year bond yield breached the 6% level again on Friday causing yet more concern for the troubled nation. Euro zone Purchasing Managers’ Index (PMI) is the main release from the region this week; moreover, the European Central Bank’s president is also speaking. The markets will still keep a very close eye on the developments in Spain which have moved the markets a great deal recently. Call in now for the latest news and a live quote.

The US dollar performed poorly on Friday as the markets absorbed positive data released from both the UK and Germany and in anticipation of the Federal Open Market Committee (FOMC) announcements this week. This week the markets will pay very close attention to the FOMC’s interest rate decision and the influential press conference that follows; with some market leaders expecting the report to hint at the potential for further quantitative easing. There is a whole raft of other data released this week which includes GDP data, jobless claims and consumer confidence. With such a large amount of data released this week there is the potential for volatility so call in now for the latest news and a live update.

Elsewhere, the Japanese yen performed poorly on Friday and Canadian core CPI released came in as markets had predicted. The Bank of Japan and Reserve Bank of New Zealand’s official cash rate decisions will be watched closely by investors this week. Furthermore, Australian Producer Price Index (PPI) and Consumer Price Index (CPI); Chinese manufacturing PMI and Canadian retail sales are also released so call in now for the latest news and a live update. 

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