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Market News : Daily Commentary
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MARKET NEWS: Daily Commentary |
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INDICATIVE DEPOSIT RATES
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Please call for the latest overnight deposit rate Broken dates available on request Our deposit rates are not tiered All transfers free of charges via Chaps or Swift Foreign exchange products available Pro-active service entirely tailored to your needs Deal confirmations always produced
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FOREIGN EXCHANGE LEVELS - INDICATIVE RATES
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Good morning.
Market looks ahead to interest rate decisions
Good morning all.
The dollar advanced last week as the Federal Reserve�s favourite measure of inflation hit its highest level for 11 years. The dollar was left largely unmoved as disappointing US house price data was balanced by a better than expected reading on manufacturing activity in the Midwest as well as data showing still buoyant U.S. consumer sentiment in September.. However, news that August�s US core personal consumption expenditures deflator - the Federal Reserve�s preferred inflation gauge- had outstripped forecasts and risen to its highest annualised rate since 1995 helped the dollar climb on Friday. Sterling fell to 2 � week lows against the euro and the dollar on Friday, extending losses after dovish comments from the Bank of England policymaker and downward revisions to the second quarter growth earlier in the week. Monetary Policy Committee member David Blanchflower said on Wednesday inflationary expectations had levelled off, while the Office for National Statistics revised down the quarterly GDP growth rate in April to June to 0.7 % from 0.8 %. The GDP deflator was also revised down. In Europe, upbeat comments from European Central Bank policymakers this week have boosted expectations for a euro zone rate hike next Thursday and one more by year end. There is a raft of information due in this week but all eyes will be on 5th October - EMU: ECB rate announcement (Oct) 12.45 BST - Bank of England rate announcement (Oct) 12.00 BST 6th October - US: Non-farm payrolls (Sep) 13.30 BST
On the technical front � GBP/USD support is at 1.8605 and then 1.8530. Resistance levels on the upside are at 1.8765 followed by 1.885. EUR/USD support is at 1.2630, backed up by 1.2580. Resistance on the top is at 1.2735, followed by 1.2805. EUR/GBP support lies at 0.6735, followed by a level of 0.6690. Resistance levels up top remain closely bunched at 0.6800, 0.6820.
C
Anglo Irish Bank UK Treasury
While care has been taken in the preparation of the information contained in this publication, it is a general guide and readers should not rely on any information contained in it in relation to a specific issue without taking financial, investment, banking or other professional advice.
Anglo Irish Bank Corporation Plc, | | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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