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Weekly Update Week Ending 17/12/2010

Weekly Update Week Ending 17/12/2010

Old Dec 15th 2010, 3:03 pm
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Default Weekly Update Week Ending 17/12/2010

£/€Range of the week: 1.1747 – 1.1981
Variance of the week on £10k= €234

Major news or data for the week so far;

UK
• Rightmove House Prices at -3.0% (previous month -3.2%)

• RICS house price balance -44, better than expected figure of -50 (previous month -49)

• Consumer Price Index – Inflation rose to a 6 month high of 3.3% for November and came in above expectations (3.15%). This rise has been put down to higher food and clothing costs. Higher inflation rates make it more unlikely that the Bank of England will look to further quantitative easing in the near term

• Unemployment Rate 7.9%, worse than expected figure of 7.7% - this is the first rise in unemployment in 6 months again signally a halt in recovery

Eurozone
• Industrial Production 0.7% m/m, lower than the expected figure of 1.3%

• ZEW Survey (index that measures economic sentiment) 15.5, better than expected figure of 10.5

£/$
Range of the week: 1.5710 – 1.5910
Variance of the week on £10k= $200

Major news or data for the week so far

• Credit rating Agency Moody’s warn that it may look to cut U.S AAA credit rating

• US retail sales and producer prices rose higher than forecast in November

• FED Holds interest rates at current levels and renew its commitment to its $600 Billion asset purchase scheme. In the statement that followed they did give a slightly more positive view of the US Economy than previous months.

£/AUS
Range of the week: 1.5721 – 1.6071
Variance of the week on £10k = $350

Major news or data for the week so far;

• The Westpac Melbourne Institute Index of Consumer Sentiment rose by 0.2% in December from 110.7 in November to 111.0 in December


£/NZD
Range of the week: 2.0830 – 2.1183
Variance of the week: on £10k=$353

• Retail sales came in at -2.5% in November which is worse than previous month (1.7%) and less than expectations (-0.8%)

£/ZAR

No major data so far this week

Range of the week: 10.6543 – 10.8766
Variance of the week: on £10k=ZAR 2223


£/CAD

No major data so far this week

Range of the week: 1.5789 – 1.6023
Variance of the week: on £10k=$234
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