MORNING BRIEFING: Volatility on the Pound Sterling expected this morning.

[RTFX-Trading]

MORNING BRIEFING: Volatility on the Pound Sterling expected this morning.

What’s new:
China: industry reached a peak of nearly two years.
Wall Street marks a pause after Monday's surge.
Oil: down 0.50% in New York.
Germany: further decline of the ZEW index in November.
England: British AAA standard threatened by public deficits according to Fitch.
England: rising property prices and retail sales.
England: Trade deficit higher in September than expected.
Switzerland: SNB has no reason to change its monetary policy now.

Today:


Rates in Asia and Indices:
EURUSD: 1.5034 - 1.4968.
USDCHF: 1.0091 - 1.0046.
EURUSD: 1.6765 - 1.6710.
EURJPY: 135.20 - 133.81.
USDJPY: 90.04 - 89.30.
Dow Jones: 10'246 +0.20%.
NASDAQ: 2'151 -0.14%.
S & P 500: 1,093 -0.01%.
Nikkei: 9'871 +0.01%.
Shanghai: 3'177 -0.03%.
Gold: $1,108.
Crude oil: $78.75.
 
Comments:
Today, unemployment figures in the United Kingdom and the quarterly report of the Bank of England on inflation are the two events of the day which should influence the Pound Sterling.

After Tuesday’s disappointing German ZEW indicator, the market awaits the IFO economic climate in the Euro area on Wednesday.

The Dollar cannot yet benefit from the comments of US Treasury Secretary Timothy Geithner statement, who said that he believes maintaining a strong Dollar is "very important" for the economy.

The Pound Sterling has almost fully recovered from the warning given by an official of the rating agency “Fitch Ratings”, which said, that the UK would risk losing its AAA rating. Fitch has subsequently clarified that the prospect of the AAA rating from the British sovereign debt remained stable and no breakdown was provided.

Good day.

Nicolas Longchamp
RTFX Ltd
Head Office
The Cornerstone Complex, 16th September Square | Mosta MST 1180 | Malta
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