In Germany, economic sentiment unexpectedly rose yesterday to 28.1 from 21.5 in January. This reading represents a boost in investor morale, which reached 12-month highs and marked the fifth consecutive month of increases.
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The UK services PMI, which rose to 53.3 yesterday from 48.7 in January, cited rising customer demand as improving business optimism and outlook.
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Yesterday morning the pound was boosted following a positive reading from UK Services PMI which signalled an increase in business optimism.
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It is a similar story for the United States who will be releasing their latest personal income and personal spending data on Friday. In the previous data, personal income in the US climbed a gentle 0.2%.
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Over the coming days market-watchers will look to Germany for several important data releases that will give investors clues on the economic health of the world’s fourth-largest economy.
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It is a calm week for economic data releases in the UK, however sterling-watchers will be paying attention to the latest industrial trends survey which will be released by the Confederation of British Industry at 11am.
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The pound weakened against a few of its rivals on Monday, including the US dollar and canadian dollar. Investors will be looking out for the latest inflation and retail sales figures from Canada, which are scheduled to be…
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Sterling starts the week in an uncertain mode. If you’re concerned about the rate slipping away from you, give your trader a call on 020 8108 5163 and discuss locking in your rate. We’ve seen a few ups and down…
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