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In the run-up to the British PMI Industrials Survey this mornings, the British Pund crossed the 1.64 level against the U.S. Dollar, and the just optimistic production pressure has further bolstered the British Pund against the BIG. Over the course of this weekend, a variety of national and global information streams will affect investor confidence against theund.
Meanwhile, the Dollar is strengthening against the Euro in today's meeting, despite the announcement of a PMI boost for manufacturers in the Euro-Zone this morning. In addition, traders are still holding back in the US after lower than anticipated selling on Black Friday. During the day, investor attention will be paid to reporting on local production activities in order to further increase willingness to take risks.
In addition, a keynote address by Ben Bernanke today will draw the market's eye to the Fed's position for the time being. Euro is weakening against major currencies this mornings, despite positive PMI releases from all of the Euro-Zone except Spain. The positive economic data should not, however, prevent the BoC from raising its interest rate in the short run, as this week's economic summit is likely to play a minor part.
As of this week, apart from the BoC session, traders will be keeping an eye on PMI and labor markets figures for the local manufactured sector to further increase willingness to take risks.
Stern Ratings | PMI (international)
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