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News in 60 Seconds: GBP declines as stocks & futures trade lower overnight!

Rating: 1 votes, 5.00 average.
by , 03-15-2010 at 09:51 AM (1274 Views)
Biggest % gainers: EUR/GBP up 0.50%, USD/CHF, USD/JPY, CHF/JPY, USD/CAD on mild USD strength and mild JPY weakness....also on fairly strong GBP weakness.

Biggest % losers: GBP/USD down 0.91%, GBP/CHF, GBP/JPY on fairly strong GBP weakness.

Oil $80.25
Gold $1,104

USD TIC Long-Term Purchases much worse at 19.1B vs.50.3B expected and 63.3B last time. Ouch! Net inflows into the U.S. was anemic at best. (shows global demand for U.S. assets basically).

AUD Monetary Policy Minutes out tonight at 8:30pm EST.

U.S. Stock Futures down. Decline in the emerging markets and decline in metals influencing stock futures lower.

Japan Raises Economic Assessment for First Time Since July. The Japanese government raised its assessment of the economy for the first time in eight months, saying the recovery is beginning to spur profits, home building and consumer spending.

Pound Bears Bet More Than When George Soros Beat BOE. Futures traders are more bearish than ever on sterling amid concern that the currency’s worst annual start in 13 years will continue as the U.K.’s budget deficit approaches the Greek shortfall that roiled the euro.

Sean Hyman
DailyFX Forum Moderator

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