MPT Market Report 18th March 2010
MPT Market Report – 17th March 2010 Daily forex market reports, available from the MyPrivateTradeTV YouTube Channel. www.myprivatetrade.com
Yesterday, the Euro was relatively calm against the Dollar, closing down just 33 pips. In early trading today, it has taken a fall of nearly 90 pips, currently trading at 1.3666.
Sterling made significant gains yesterday after better than expected jobless claims figures, pushing Sterling up 160 pips against the Dollar. The pair is currently trading at 1.5262.
The Yen continued its recent volatility yesterday, trading across a range of 70 pips with the Dollar. In early trading the Yen has made ground against the Dollar, briefly breaching the 90.0 support. Keep an eye on this one today.
In the UK, Mortgage approval figures for February will be released at 10.30 CET. These are expected to be up from Januarys figure of 48,000 by 6,000. If so, it may be bullish for Sterling.
At the same time, public sector net borrowing figures for the UK are also due out. There is expected to be considerable growth in net borrowing which is likely to be bearish for Sterling.
In the US, Consumer Price Index figures for February are out at 13.30 CET. This is a comparison of the retail value of a shopping basket of goods. A high reading may be bullish for the Dollar.
Also at 13.30 CET in the US, initial jobless claims figures are due to be released. These are expected to be down 6,000 from the previous reading, 462,000.
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