http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-20.htmlAll this and more is available on our video blog The pound continued to dribble lower yesterday as the market continued to digest the Bank of England’s November Minutes. The news that the BOE is continuing to place weight behind a plan to cut the interest rate that commercial banks receive on deposits was the major unexpected sentence in the minutes and has hurt sterling accordingly. The pound was buoyed however by retail sales for October that rose at the fastest rate since the beginning ofFri, 20 Nov 2009 10:59:32 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-20.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-19.htmlAll this and more is available on our video blog Minutes from the last Bank of England rate decision sparked a decline for the pound on Tuesday. A split decision by the Monetary Policy Committee (MPC) to increase the asset purchase program, and dovish accompanying comments saw investors sell back sterling from its recent highs against the dollar and euro Seven of the nine strong committee, including Governor King, voted for the increase of £25bn to the asset purchase plan, while David MilesThu, 19 Nov 2009 09:26:14 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-19.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-18.htmlAll this and more is available on  our video blog Sterling climbed to a 2 month high against the euro yesterday as strong inflation figures buoyed. CPI rose to 1.5% against a consensus view of 1.4%. There is the possibility this will not last however and, like the Bank of England warned last week, CPI will probably spend more time below its target rate of 2% than above it. Sterling’s move was kept in check by a comment from Bank of England director Andrew Sentance. He said yesterday thatWed, 18 Nov 2009 10:09:55 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-18.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-17.htmlAll this and more is available on our video blog Rare comments from the Fed Chairman Ben Bernanke did little to halt the dollar’s decline on Monday as the dollar index fell to fresh 15 month lows over the trading day. Throwing his weight behind the greenback Mr Bernanke indicated that the Fed “will help ensure that the dollar is strong”, and once again reiterating it would keep interest rates low for an extended period. October retail sales from the US revealed a nice rebound from last month’sTue, 17 Nov 2009 08:33:49 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-17.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-16.htmlUnfortunately the technical gremlins are still yet to remedied and as such there will once again be no video update today. We apologise for any inconvenience caused. The recession is over in Europe. EU GDP limped into positive territory on Friday as the strength of the German economy shone through. We were given a 0.4% reading against a 0.5% estimate which is why the euro stayed in somewhat of a holding pattern against its main competitors. The revaluation of UK GDP is due next week. The onlyMon, 16 Nov 2009 10:29:22 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-16.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-13.htmlA subdued session from equity and commodity markets saw the dollar generally stronger, while risky assets paused for breath after an eventful early week. The S&P500 lead the equity markets retreat, falling from 13 month highs posted on Wednesday, gold pulled back from its record high price of over $1,120 an ounce, and oil faltered at the $80 mark. This combined to give the greenback some strength to press the euro back from the 1.50 levels it has been hovering around recently, taking theFri, 13 Nov 2009 10:22:22 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-13.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-12.htmlAll this and more is available on our video blog The Bank of England continued with a dovish tone in their latest inflation report with sterling losing ground as a result. After an initial blip higher sterling faded throughout the speech and the session afterwards as Mervyn King outlined the look of the inflation and growth curves over the next 2 years. Growth, GDP, is being predicted at a rate of 2% for 2010 and 4% for 2011 while inflation may peak above the 2% target level shortly beforeThu, 12 Nov 2009 10:24:16 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-12.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-11.htmlAll this and more is available on our video blog It was a topsy turvy day for sterling yesterday as the UK’s accounts and creditworthiness were hit upon by a leading credit rating agency. Fitch, as we said yesterday, had warned that more stimulus put the UK’s AAA credit rating in jeopardy. This sent sterling lower in yesterday’s Asian session although the pound did regain some poise during the session as traders realised that Fitch’s comments were nothing new. We all know that the UK’sWed, 11 Nov 2009 08:37:24 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-11.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-10.htmlAll this and more is available on our video blog The weekend’s G20 meeting and last week’s more dovish news from central banks around the world led to a big, fat and juicy risk rally yesterday which was jumped on by a starving investor base. Mining shares leapt higher as gold hit yet another record high with base metals also performing well. The news that Kraft are still looking to buy Cadbury, although their latest foray to do so looks doomed, also acted as a sweetener for bulls who were satTue, 10 Nov 2009 08:39:54 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-10.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-09.htmlAll this and more is available on our video blog We were once again reminded of the human cost of ill-fated decisions over the weekend. Whilst Britain came together as one yesterday to remember those who had lost their lives in the defence of the country, on Friday we once again were given data that showed how many had lost their livelihood. The US unemployment rate has now risen above 10%; Friday’s release confirming 10.2%. This is simply staggering. The markets were in stasis for the morningMon, 09 Nov 2009 08:59:53 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-09.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-06.htmlAll this and more is available on our video blog All in all the Bank of England decision to raise quantitative easing by an additional £25bn turned out to be a bit of a non-event in sterling terms. £50bn would have seen sterling retreat, nothing would have seen it jump higher so it naturally follows that a £25bn expansion is the most sterling neutral of decision. One analyst described it as ‘one last heave’ we however believe it’s a gamble on an upwards revaluation of the preliminary GDPFri, 06 Nov 2009 08:35:46 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-06.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-05.htmlAll this and more is available on our video blog And so it is here. The decision that will lay down the path for sterling for possibly the next 12 months will be announced at Noon today. The interest rate decision is once again a foregone conclusion and the focus will be on whether the Bank of England will extend its asset purchases or not. We are in the camp that believe that they will extend and therefore that sterling will take a blow after its recent good run. This blow may however beThu, 05 Nov 2009 08:46:47 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-05.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-04.htmlAll this and more is available on our video blog Falls on equity markets continued to strengthen the US dollar with haven flows increasingly markedly. Equities, commodities and high yielding currencies, which in the past month had all been bought heavily against the weak dollar, were sold again yesterday with the banking industry at the centre of most people’s fears. News from RBS, Lloyds and UBS all disappointed the market and led speculators to query whether this recovery is nothing moreWed, 04 Nov 2009 11:50:42 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-04.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-03.htmlAll this and more is available on our video blog It was as if last week never happened. Risk was bid as commodity currencies surged against the US dollar while volatile markets like copper and gold also moved higher. With the sheer volume of data out this week it was always going to be a strange 5 days; we’re more bemused than anything. The RBA decided that a 25bps hike in rates was the prudent course of action for the Australian economy at this juncture. The accompanying statement was also aTue, 03 Nov 2009 11:28:42 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-03.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-02.htmlAll this and more is available on our video blog Markets are moving to a position of ‘risk off’ this week with the sheer weight of event risk that we will have to negotiate. The number of central bank announcements alone mark this weekend as a minefield. Friday saw risk continue to be sold off in large chunks with the dollar benefiting from the safe haven demand. Equity markets did not help with the FTSE 100 falling by the most in a week since March. Overnight another US bank has applied forMon, 02 Nov 2009 09:03:30 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-11-02.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-30.htmlAll this and more is available on our video blog The longest period of contraction the US economy has witnessed since the Great Depression was officially brought to end yesterday as gross domestic product figures revealed an annualised growth rate of 3.5% versus a consensus of 3.2%. The $787bn stimulus package released by the Obama administration has helped see the US join the growing club of countries to exit technical recession, the fourth of the G7 nations. The UK is now embarrassingly oneFri, 30 Oct 2009 10:06:04 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-30.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-29.htmlAll this and more is available on our video blog Tired equity markets drifted lower over the day, fuelling safe haven demand for the Dollar and Yen, and pushing the riskier assets lower. Fears about EU competition rules for banks saw European banking stocks slide, causing the euro to also struggle over the day. In the UK, Lloyds bank revealed it was considering raising further capital to shed itself of the state burden. Despite this gloom, the pound was in solid form, managing to reach wellThu, 29 Oct 2009 12:26:10 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-29.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-28.htmlAll this and more is available on our video blog The dollar’s recent strength continued yesterday with the greenback the best performing of the G10 currencies. While better than expected housing figures stymied this rise, significantly weaker than expected consumer confidence saw risky assets lose weight and USD overperform on haven flow demand. US treasury debt has recently seen yields rise and as a result the bills and bonds are very attractive at the moment. We are likely to see the firstWed, 28 Oct 2009 08:39:10 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-28.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-27.htmlAll this and more is available on our video blog Expectations that with a lack of data yesterday would be a quiet, conciliatory day were spectacularly wrong yesterday as currencies recently on the back foot, including the pound, fought hard to make gains. The US dollar fell in the early part of trading as Chinese officials stated that reserve diversification away from the greenback was likely in favour of EUR and JPY. This later turned out to be a rogue statement from an employee in one of theTue, 27 Oct 2009 08:45:09 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-27.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-26.htmlAll this and more is available on our video blog The UK has taken two steps back over the past 72 hours: one horological and economic. It was fitting that the clocks were put back an hour on this of all weekends: a country buying more time as it scrabbles to make sense of some truly atrocious data. As most, if not all, of you will know the GDP figure for the UK was released on Friday and portrayed a country in a more terrible place than anybody could have imagined. The consensus was for a 0.2%Mon, 26 Oct 2009 08:55:51 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-26.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-23.htmlAll this and more is available on our video blog “It’s time for sterling to man up” - a friend UK GDP is due today at 09.30 and with it a whole heap of expectation. Predictions are for a 0.2%: a move out of recession in its purest textbook terms. Rumours swirling dealing desks yesterday cited anonymity and the potential for a 0.4% jump. Sterling paid little notice. Needless to say a figure above 0.2% would see sterling jump higher and below lower. We are predicting a 0.3% increase. The poundFri, 23 Oct 2009 08:20:59 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-23.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-22.htmlAll this and more is available on our video blog Sterling jumped over 1.5 per cent against both the USD and EUR amongst other currencies as the minutes of October’s Bank of England meeting struck a more dovish tone than the market had expected. While the predictions of a unanimous vote for a hold on interest rates plus a similar 9-0 result on the non-expansion of QE were correct, the major difference came in the text, or, more pertinently, the lack of it. In September’s minutes Mervyn King hadThu, 22 Oct 2009 08:04:47 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-22.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-21.htmlAll this and more is available on our video blog Sterling continued to wriggle higher yesterday against the euro and dollar in quiet market conditions. GBP/EUR was however unable to hold an important support level at 1.1018 and has fallen back into the 1.09s since. The pound also rallied against the dollar posting an intraday high of 1.6475, a level not reached for nigh on 3 weeks. Mervyn King’s speech overnight, whilst grabbing headlines, has had little effect on FX markets. It was moreWed, 21 Oct 2009 07:53:14 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-21.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-20.htmlAll this and more is available on our video blog With a lack of data and a dearth of comment yesterday markets behaved much as they did on Friday with sterling unable to get through the 1.10 level against the euro and the single currency unable to get up to 1.50 against the USD. The rocket ship that is the AUD has continued as indications that another rate rise may be enacted at the RBA’s November meeting. This has dragged all commodity currencies (AUD, NZD, CAD, ZAR, NOK and SEK) higherTue, 20 Oct 2009 07:51:13 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-20.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-19.htmlSterling rallied strongly but was unable to break the 1.10 level on Friday. As we predicted, heavy option and stop resistance kept sterling at arm’s length but there is a good chance of another run at it soon. News over the weekend for the pound was not good. According to a report from Ernst & Young Item Club in the Sunday Telegraph GBP will be stuck at near parity against the EUR for up to four years. The report says that GBP could continue to weaken until 2014, as foreign investors balkMon, 19 Oct 2009 09:44:57 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-19.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-16.htmlAll this and more is available on our video blog Sterling jumped to its highest levels in 3 weeks after MPC member Fisher lent the QE policy in the UK some soothing words. The pound put on 1.8% against the euro and dollar as Fisher commented that the asset purchase program was “having the scale and speed of impact that we would have hoped for when we started in March”. This coupled with the comments from Deputy Governor Charlie Bean that a reversal of QE would be needed in the future if theFri, 16 Oct 2009 07:56:26 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-16.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-15.htmlAll this and more is available on  our video blog If you are a believer in the recovery it was your day yesterday as markets pointed to a lightening of the economic mood with a synchronicity that has not been evident for a fair while. The Dow Jones topped 10,000 for the first time in a year as bullish earnings reports from Intel and JP Morgan and an increased oil price saw speculators flood into ‘long’ or buy positions of risky assets. The dollar lost ground as it was sold to buy into theThu, 15 Oct 2009 07:47:44 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-15.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-14.htmlAll this and more is available on our video blog Inflation in the UK fell to a 5 year low yesterday stoking fears that further QE could be on the horizon. CPI fell to 1.1% on a year on year basis as oil, gas and other fuel prices weighed. 1.1% is of course only a couple of bps above the level where Governor Mervyn King will have to write a letter to Chancellor Darling to explain why there is such a deviancy from the 2% target. I don’t expect inflation to stay this low for long: certainWed, 14 Oct 2009 08:09:42 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-14.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-13.htmlAll this and more is available on our video blog Sterling moved to fresh 5 month lows against the euro and US dollar whilst also extending losses against all other competing crosses as fresh concerns over the viability of the recovery of the UK economy reared their head. Yesterday we spoke of the news from the CEBR which saw UK interest rates not rising above 2% until 2014. Another leading business partner, the British Chambers of Commerce, have warned that the recovery in the UK isTue, 13 Oct 2009 08:07:53 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-13.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-12.htmlAll this and more is available on  our video blog A quiet Friday ended a busy week of movement in the FX markets as further fears for the pound materialized. The Centre for Economic and Business Research forecasted over the weekend that interest rates here in the UK will stay at 0.5% into 2011 and not reach the 2% level until at least 2014 with the pound falling to below $1.40 against the US dollar and below parity against the euro. The report also forecast that quantitative easing wouldMon, 12 Oct 2009 08:29:35 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-12.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-09.htmlAll this and more is available on our video blog Yesterday’s central bank announcements were disappointing in their lack of volatility as both the Bank of England and ECB decided to hold rates at their current levels of 0.5% and 1% respectively. The Bank of England also decided not to extend the amount of money pumped into the economy in the form of quantitative easing. As for those of you who tuned in for yesterday’s webinar will know, we believe the Bank of England will decided on whether toFri, 09 Oct 2009 07:53:30 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-09.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-08.htmlAll this and more is available on our video blog Sterling fell to a trade-weighted 5 month low yesterday as market participants became increasingly skittish before today’s Bank of England announcement. Interest rates and QE policy for the next month will be released at 12 Noon BST. Data on Wednesday showed that company earnings and profitability had once again worsened for a fifth successive quarter and now stands at its lowest level since 2001. While we believe the Bank of England will holdThu, 08 Oct 2009 07:48:19 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-08.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-07.htmlAll this and more is available on  our video blog An article in The Independent newspaper sent the US dollar lower yesterday as it reported that Saudi Arabia in cahoots with China had met to discuss replacing the US dollar as the global pricing unit for a barrel of oil. Whilst some analysts viewed this as absurd the USD sold off heavily against most of its counterparts as it only added to the very negative light that the greenback is being cast in at this moment. One currencyWed, 07 Oct 2009 07:59:18 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-07.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-06.htmlAll this and more is available on our video blog Australia became the first country in the G10 or the OECD to raise their benchmark interest rate last night. In moving the rate to 3.25% from 3%, economists’ thoughts that Australia would weather the economic storm better than most seems to have been well founded. Data in Australia has been frequently better than expected with consumer confidence and retail spending figures especially surprising to the topside. Governor Stevens said thatTue, 06 Oct 2009 07:43:35 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-06.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-05.htmlAll this and more is available on our video blog The danger of working in the markets is complacency. Those of us at the coalface trying to analyse and advise accordingly on the disparate moves of currencies occasionally look at a day’s movements on the exchanges and just shrug. Sometimes the market really is a feckless beast. The incident that has caused this considerable ire was Friday’s Non-Farm Payrolls release. The reading showed 264,000 jobs were lost in the month of September; muchMon, 05 Oct 2009 08:09:50 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-05.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-02.htmlAll this and more is available on our video blog  Apologies if this is the first Morning Update email you have received since Tuesday, we’ve had some gremlins in our email software which have hopefully been rectified. We apologise for any inconvenience caused. The dollar is slightly stronger as we move into Non-Farm Friday as manufacturing sentiment measures failed to encourage investors to take on additional risk yesterday. PMIs from both the UK and Europe and the ISM from the US allFri, 02 Oct 2009 08:17:35 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-02.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-01.htmlAll this and more is available on  our video blog Sterling briefly made forays back into the 1.10s against the euro before fears over the recovery in the US jobs market sent risky assets sharply lower. US ADP unemployment, which is a crucial indicator for Friday’s Non-Farm payrolls release, was released at -264k, 64k worse than expected and signaling that the tumult in the jobs market is not yet over. This was not the case in Germany however as unemployment fell by 12,000 jobs inThu, 01 Oct 2009 08:14:32 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-10-01.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-30.htmlAll this and more is available on our video blog Sterling is higher overnight as 3 chunky pieces of data went in its favour whilst news flow has backed it up as well. GDP in the UK was revised upwards for last quarter although the measure still remains in negative territory (-0.6%). We did not see an immediate jump however as the level for Q1 was revised downwards from -2.4% to -2.5%. The upward revision is due to improving conditions in the construction sector. CBI distributive trades,Wed, 30 Sep 2009 08:15:05 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-30.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-29.htmlAll this and more is available on our video blog The pound remained under pressure yesterday although it managed to eke out some gains against the euro over the course of the day. Sterling rebounded from an overnight level of 1.0750 back into the 1.08s but still remains very weak and this is likely to continue. The main winner was the dollar yesterday as haven flows picked up over fears that the economic stimulus packages that have acted as life support many a country will be withdrawn tooTue, 29 Sep 2009 08:20:16 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-29.htmlhttp://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-28.htmlAll this and more is available on our video blog The fallout from Mervyn King’s comments continued apace on Friday dragging sterling to new lows against its major trading partners. With a central bank increasingly happy with a weak sterling, currency traders around the world bet heavily on further falls for the pound. As we had warned of numerous times in the past week GBP fell into the 1.08s against the euro and below the 1.60 handle versus the US dollar. Sterling will continue to be betMon, 28 Sep 2009 08:12:41 GMThttp://www.fxstreet.com/fundamental/market-view/enquiries@worldfirst.com (World First UK Ltd)http://www.fxstreet.com/fundamental/market-view/daily-world-market-update/2009-09-28.html