Market Report

Dominating the news is the conflict in the Middle East. The financial markets have suffered as the Dow Jones is down, as well as a hike in the price of Oil.

Oil is the key factor that will effect the markets, as an increase in the price of oil effects all of us.

Despite all of this, we have not seen movements in the exchange rates that we might have expected. GBP/USD has been in its range of 1.8370 to 1.8440, and GBP/EUR has been trading between 1.4470 and 1.4520 since yesterday.

Today sees data being released from the States, with US Import price index and US retail sales at 1.30. More importantly the University of Michigan sentiment is released at 2.45 and any deviation from the expected figure of 85.5 may cause some excitement in the markets.

Let's hope the Middle East conflict is not written about in next weeks reports.

DE

The Dollar saw some movement yesterday after the trade data was released from the United States, the figure was a good one for the Dollar. The rate against Sterling reached a low of 1.8480 before the data release, compared to this mornings opening rate of 1.8334. We currently stand at 1.8388 which may indicate that the Dollar has reached its high for the moment. Today sees the release of the jobless claims figures from the United States these are not expected to have any significant effect on the rate.

There are no important figures to be released from the Eurozone today, this said the release yesterday of data from the United States had an effect on the Sterling/Euro rate. Having opened at 1.4469 the rate climbed to1.4501 before falling back to a low of 1.4434. This morning once again sees Sterling making a little bit of a recovery back up to 1.4462 but I will stick by what I have been saying recently that now is a good time to buy those Euros.

Have a nice day.

VC

Good morning all, today sees the release of the United States trade data at 13.30pm should we see a negative figure we may see the Dollar start to weaken. This morning saw the Dollar open at 1.8447 after opening yesterday at 1.8428 which suggests the markets are waiting for a sign as to the direction the Dollar will take next.

United Kingdom trade data was released yesterday with the figure being a negative one for Sterling. Having said this Sterling is starting to show signs of a recovery with the Sterling rate against the Euro touching 1.4490 this morning. This in my opinion will prove to be short lived and may start to push back down towards 1.43 before to long. Should you need to buy Euros now does seems to be a good time.

VC

Good morning all today sees the Dollar strengthening against Sterling as predicted. After yesterdays opening of 1.8500 we saw the dollar reach a high of 1.8368 before coming back to this its current level of 1.8405.There are no real figures to be released from the United States today so we may see the Dollar continue on its present course.

Today sees the release of the UK retail sales and for all those who thought they had heard the last of the world cup; it still has one last mention here. With England having played five games in June many shoppers will have remained indoors this could have a knock on effect with the retail figures. After a little recovery that Sterling has seen over the last few days should the figures prove to be negative we may see Sterling heading towards the 1.43 mark once again.

VC

Good morning all hope you had a nice weekend. Friday saw the employment figures released from the United States which was down on predictions, as a result the Dollar lost some significant ground against Sterling. The Dollar currently stands at 1.8505 after reaching a high of 1.8355 on Friday. This I believe could be the low for the Dollar for a while and we may see a recovery before to long.

Sterling staged a bit of a recovery on Friday reaching a high of 1.4450 after falling as low as 1.4384, we are currently standing at 1.4441. This I also believe to be a little high for Sterling and I think it would not be a surprise to see Sterling falling as low as 1.43 before to long.

Looks to be a quiet week for data releases this week with the exception of the Japanese who look likely to raise there interest rates on Friday.

VC