UK: Change in number of unemployed in March 73,700, exp 120'000, Unemployment remains at 6.70%

[RTFX-Trading]

UK: Change in number of unemployed in March 73,700, exp 120'000
UK: Average incomes inc bonus is 0.10% vs. +0.40% expected.
England: Unemployment in February 6.70% as expected.

Regarding the Minutes of the last meeting of the BoE, all 9 members had opted to leave rates unchanged at 0.50% and to keep the stimulus amount at £ 75 billion. The announcement tells us to be extremely uncertain about the coming results, investigations into the business sector shows that the economic downturn is expected to slow in the 2nd quarter of 2009.

All comments are therefore in line with market expectations; the pound sterling is currently not turbulent, although slightly under pressure at 1.4550 against the dollar, 143 against the yen and 0.8876 against the euro.

Nicolas Longchamp
RTFX Ltd
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