Weekly Market Update

On Monday we had no key data, being a bank holiday the rates were quiet static.

Today we have only the Consumer Confidence data from the US, which is expected to be strong from their economy as it is expected to be up from 82.3 to 83. This shows that the public are more confident with their jobs, wages employment etc; which means spending goes up and helps boost the economy.

On Wednesday we have the German Unemployment data which is expected to show less people are unemployed and more people are in work! This will put some strength into the Euro as Germany is one of the main players in the Eurozone.

Thursday we have the GDP figures from the USA now this is expected to be  weak data for the US, expectations are that the GDP figures should drop from 0.1% to – 0.5%, this shows weakness in the economy’s recovery, and this could have an impact on the rates, we may see the GBP/USD rate rise.

It’s a quiet week in terms of major economic data being released, however we may see the pound gain against the US Dollar, and possibly drop off below the 1.23 level against the Euro.

The main focus over the next few weeks will be the ECB decision to do more QE, this will be the reason behind most market moves in the coming few weeks.

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