- European session: the euro rose
Market news
9 March 2011
European session: the euro rose
Data:
08:15 Switzerland Consumer Price Index (MoM) (Feb) 0.4%
08:15 Switzerland Consumer Price Index (YoY) (Feb) 0.5%
09:30 United Kingdom Goods Trade Balance (Jan) £-7.057B
11:00 Germany Industrial Production s.a. (MoM) (Jan) 1.8%
11:00 Germany Industrial Production s.a. w.d.a. (YoY) (Jan) 12.5%
The pound snapped a four-day drop against the dollar after a report showed U.K. shop prices rose at the fastest annual pace in two years in February.
The U.K. currency strengthened for a second day versus the euro. Prices charged by retailers rose 2.7 percent from a year earlier, up from 2.5 percent in January, as non-food stores passed on the government’s increase in sales tax, the British Retail Consortium in London said today. The February reading is the highest since November 2008.
Bank of England policy makers will maintain the U.K. interest rate at a record-low 0.5 percent tomorrow, according to all 61 economists. It will maintain its bond-purchase program at 200 billion pounds, a separate survey shows.
The U.K. currency strengthened for a second day versus the euro. Prices charged by retailers rose 2.7 percent from a year earlier, up from 2.5 percent in January, as non-food stores passed on the government’s increase in sales tax, the British Retail Consortium in London said today. The February reading is the highest since November 2008.
Bank of England policy makers will maintain the U.K. interest rate at a record-low 0.5 percent tomorrow, according to all 61 economists. It will maintain its bond-purchase program at 200 billion pounds, a separate survey shows.
EUR/USD: the pair become stronger in around $1,3930.
GBP/USD: the pair become stronger above a mark $1,6200.
USD/JPY: the pair returned to around of session low Y82,60.
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