Euro Pounds Daily brief April 2007

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• Poor GDP figures put the dollar under pressure
• US dollar pulls back on Eastern buying yet again
• MPC should hike by 0.5% this quarter according to NIESR
• German retail sales data puts Euro on the back foot this morning
• Turkish lira drops 4% on political instability
• Oil rises on geo-political tensions

Euro Pounds Brief Friday 27th April 2007

• Traders left scratching their heads as cable is hammered
• US dollar pulls away from all time lows against the Euro
• MPC hawk Tucker changes his tone
• Sterling suffers heavily on the markets
• Soft Japanese data puts the yen under pressure
• Oil trades up then down on mixed news

Euro Pounds Brief Friday 26th April 2007

• UK Nationwide house prices surge again
• US dollar continues to look weak
• ECB seem unperturbed by consequence of Euro strength
• Dow Jones closes at all-time high
• RBNZ raises rates to a record 7.75%
• Oil rallies on thinning US gasoline stockpiles

Euro Pounds Brief Friday 25th April 2007

• Dollar hurt on the back of home sales and consumer confidence
• BoE Governor King looking for sharp drop in UK inflation
• Euro-dollar approaches all-time highs
• Spain’s IBEX falls on property boom worries
• Swiss Bank’s Roth sees wage pressures adding to inflation
• Oil trades up amid supply worries with accusations of vote rigging
 

Euro Pounds Brief Friday 24th April 2007

• Dollar flirts with $2 on cable then makes break below
• US’s largest bond fund sees rates at 4.5% by early 2007
• The Daily Telegraph launches a scathing attack on the MPC
• June rate rise all but confirmed by ECB members
• Tame Australian inflation data causes dip in Aussie dollar
• Oil trades up amid supply worries with accusations of vote rigging

Euro Pounds Brief Friday 23rd April 2007

• Dollar opens a touch stronger following a quiet session
• UK May base rate hike all but nailed on
• UK press warning on inflation
• French elections could add volatility to Euro-markets
• Concern over Chinese currency value
• Oil continues to trade down on easing tensions in Nigeria

Euro Pounds Brief Friday 20th April 2007

• Cable bounces off 26-year highs
• Dollar looks weak again this morning
• UK Retail sales rumoured to be strong this morning
• Hawkish comments from the ECB keep Euro on front foot
• Eurozone yield curve could be predicting a recession
• Oil dips on easing production concerns

Euro Pounds Brief Wednesday 18th April 2007

• Cable hits $2 and pushes on through
• Dollar weakens on the back of inflation slowdown
• UK rates set to rise as inflation climbs
• MPC minutes due out at 0930BST
• Kiwi keeps climbing
• Oil climbs ahead of inventory data

Euro Pounds Brief Tuesday 17th April 2007

• Cable hits 14-year high; $2 level in sights
• Dollar continues to weaken on growth fears
• UK inflation forecast to remain high posing MPC a problem
• ECB members continue to release hawkish comments
• Yen looks to be oversold
• Oil trades sideways; opening of large Nigerian field.

Euro Pounds Brief Monday 16th April 2007

• Dollar hit despite strong PPI
• Sterling opens strongly after more bullish housing data
• Euro continues to look strong on hawkish rhetoric
• G7 fails to help out the ailing yen
• Commodity currencies continue to hold on to gains
• Oil rallies as OPEC cuts supplies to reduce global stockpiles

Euro Pounds Brief Friday 13th April 2007

• Dollar suffers as Euro rallies
• Fed unlikely to cut rates any time soon
• UK suffers on widening trade deficit
• Euro rallies on hawkish Trichet; rates left on hold
• Kiwi dollar jumps on retails sales data
• Oil rallies as OPEC cuts supplies to reduce global stockpiles

Euro Pounds Brief Thursday 12th April 2007

• Dollar initially gains on FOMC minutes
• Fed sees upside risk to inflation worse than economy slowdown
• UK RICS house prices much stronger than expected
• Euro rallies ahead of ECB decision today; no move expected
• Yen hits new all-time low against the Euro
• Oil underpinned by large drop in gasoline stocks

Euro Pounds Brief Wednesday 11th April 2007

• Dollar continues to fade on China worries and economy strength
• Fed officials see US slowdown; work still to do on inflation
• UK BRC rises at fastest pace in 11 months; strong Nationwide report
• Euro remains strong as FT reports ECB can continue to hike
• Yen suffers further on carry trade
• Oil stable ahead of inventories and Nigerian elections

Euro Pounds Brief Tuesday 10th April 2007

• MPC opt to keep rates on hold
• Sterling slips following MPC decision
• US job data surprises to the upside; unemployment falls
• Euro gathers pace on a falling dollar amid China worries
• BoJ leaves rates on hold at 0.5% as expected
• Oil hit hard as Iranian captive situation is resolved

Euro Pounds Brief Thurday 5th April 2007

• Sterling treads water ahead of MPC decision today
• MPC rate decision too close to call
• Poor ISM data points to US Q1 GDP slowdown
• ECB’s Trichet wants price stability
• Commodity/high yield currencies continue to thrive
• Oil dips again as Iran releases British hostages

Euro Pounds Brief Wednesday 4th April 2007

• Sterling continues rally on shadow MPC vote
• UK spenders turn to remortgaging to finance spending
• Dollar weakness again on disappointing ISM data
• Slight dip in Eurozone PPI adds to weakness
• Australian dollar hits 10-year high
• Oil stable as Iran look to diplomatic channels to resolve crisis
 

Euro Pounds Brief Tuesday 3rd April 2007

• Sterling continues rally on shadow MPC vote
• UK spenders turn to remortgaging to finance spending
• Dollar weakness again on disappointing ISM data
• Slight dip in Eurozone PPI adds to weakness
• Australian dollar hits 10-year high
• Oil stable as Iran look to diplomatic channels to resolve crisis
 

Euro Pounds Brief Monday 2nd April 2007

• US dollar dips on Middle East tension and China tariffs
• Sterling opens strongly after Sunday Times report
• UK shadow MPC votes to hike rates this week
• ECB’s Trichet warns of upside inflation risks
• Australian retails sales rise above forecast
• Oil eases as Iran situation reaches a stalemate and French strike ends