ZEW provides markets with higher than expected result

20 November, 2013

Paul Newfield

After the relative quiet of yesterday (economic data related anyway), today sees a large selection of releases from both the UK and the US including BoE minutes with retail, sales and inflation figures from across the pond, with the potential to push the Pound back up to the weeks earlier trading levels. The main headline on Tuesday was investors and sentiment shifting away, somewhat, from the UK back to Euro nations, as the UKs 10-year bond auction came in under expectations with ZEW survey economic sentiment for the Eurozone overall and for Germany coming in higher than the previous levels – another small victory for Germany after their “friendly” defeat of England at Wembley stadium last night. As things currently stand, this morning, the GBP-EUR is 0.3 cents worse off than 24 hours ago. Hopefully we will see climbs for Sterling against the Euro and the Dollar, following response to not only today’s data but also tomorrows speech from ECB boss Draghi, more manufacturing and inflation figures from Europe on Thursday as well as from America. If you have any upcoming or future requirement for international payments for any reason, please get in touch with one of our award-winning team. Do yourself justice and get the best possible exchange rate available.