Sterling experiences some sunshine

Sterling experiences some sunshine

Rak Sudra Rak Sudra

Rak Sudra

Specialist Finance & Investment Recruitment in the Middle East

发布日期: 2016年8月16日
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Sterling (wait for it........) rebounded positively this morning on the back of a better than expected Consumer Price Index (CPI) reading, showing an increase of 0.6% against market expectation of 0.5%. Retail sales also rose 1.9% in July against June’s reading of 1.6%. General Transport and alcohol (weather related - wahey!) were said to have been a major factor, giving importers a timely boost as GBP still struggles for momentum post Brexit.

After German ZEW Survey today the US also releases its CPI data, again with the actual number expected to be bang on the estimation level of 2.3%.

14-month high for the FTSE 100

The FTSE 100 hit a 14-month high yesterday, closing at 6,941.19, with expectations of the magical 7,000 level being smashed if Sterling continues to fall off a cliff. Rumours of more quantitative easing from the Bank of England (BoE) started the rally, with a number of reports out from the UK this week, hoping to give some insight into how the BoE will move on from the surprise Brexit outcome.

Monday gains

The S&P 500, Dow Jones & Nasdaq all enjoyed gains yesterday, as oil rose to a 5-week high and other commodity based shares moved up with the USD becoming stronger as the trading day moved towards close.

Enjoy your week

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