Turbulent Times Continue
12 December, 2012
Yesterday saw the pound slip against the Euro following better than expected German economic sentiment. The ZEW survey of sentiment in the Euro zone’s largest economy rose to a positive for the first time in May showing somewhat of a return in Investor confidence. This saw the Euro rate drop from near a three week high after earlier news in the week of Italian PM Mario Montis resignation largely unsettled the single currency.
Whilst the Euro is gaining strength against the pound, cable is showing some small Dollar gains although remaining fairly stable – undoubtedly the weakness of the dollar is keeping a floor under the EUR/USD pairing limiting any further fallout.
Today is a busy day in the economic calendar for market information, which could see a large amount of movement within the markets. UK unemployment figures released are expected to be unchanged at 7.8%, but any small increase could see the pound knocked further against the Euro.
Moreover with the much anticipated Fed meeting also happening, large movements might be seen in the major pairings as we begin to find out more about the true extent of the American economic crisis and the much feared fiscal cliff faced by the US
Help yourself stay ahead of the markets during this volatile time and if you have any transfers coming up make sure you speak to your Currency Index broker.
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