Wall Street finished the week under pressure, as a spike in the price of oil

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Euro Pounds Daily Brief – 6/11/2006

Summary of Overnight News:
• The FTSE-100 looks to start the week on a cautious note with IG Index predicting it to open 1 point down
@ 6,147, as Wall Street slipped below the key 12,000 level on Friday and as investors stay cautious ahead
of Thursday's rate decision.
• The DJIA ended off 32.5 points at 11,986.04, the Nasdaq Comp fell 3.23 at 2,330.79 and The S&P 500 was
off 3.04 at 1,364.30.
• Meanwhile, Wall Street finished the week under pressure, as a spike in the price of oil and a mixed set of
job data added to jitters over the health of the world's largest economy.
• The Labor Department revealed the unemployment rate hit a five year low, but enthusiasm was tempered as
non-farm payrolls missed market forecasts.
• Back in London, Thursday's rate decision will take centre stage with investors braced for the MPC to raise
borrowing costs to a five-year high in a bid to counter above-target inflation.
• All 35 economists polled by top news agency AFX News expect the MPC to raise its key repo rate by a
quarter point to 5.00 pct, its highest level since before the September 11, 2001 terrorist attacks in the US.
• Over in Asia the Nikkei 225 index closed 14.74 points firmer at 16,364.76, while the Hang Seng was up
62.68 at 18,812.37 by midday.
• Still in Asia, oil prices eased, pulling back from a sharp jump late last week sparked by threats against oil
installations in Nigeria.
• Earlier this morning, New York's main contract, light sweet crude for December delivery, was down 35
cents to $58.79 a barrel from $59.14 in late US trade Friday when the contract had jumped $1.26 .
UK
Figure out Today:
• 0930 Industrial Production, (Sep) % mom Prev 0.1 Exp 0.7
• 0930 Industrial Production, (Sep) % yoy Prev 0.7 Exp 1.0
• 0930 Manufacturing Production, (Sep) % mom Prev 0.4 Exp 0.3
• 0930 Manufacturing Production, (Sep) % yoy Prev 1.5 Exp 2.4
Europe
Figures out Today:
• 0900 EA PMI Services (Oct) Prev 56.7 Exp 57.0
• 1000 EA PPI (Sep) % mom Prev 0.1
• 1000 EA PPI (Sep) % yoy Prev 5.7
EURO USD @ 1.2703 GB POUNDS USD @ 1.8983 GB POUNDS EURO @ 1.4942 USDJPY @ 118.17

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Euro Pounds Brief Monday 6/11/2006

Euro Pounds Daily Brief – 6/11/2006