Morning Update

I’ve been MIA since Friday because it was an insane weekend with the Singapore F1 night race, which was of course fabulous! I needed some time to recover from the madness of the weekend, but I’m back so let’s see what happened last night on the markets.

It looks like the dollar has weakened further and doesn’t seem like rates will be hiked anytime soon by the feds.

Euro came under pressure after Moody’s downgrade on senior debt of a prominent Irish bank which highlights the uncertainty of banking strength in Ireland. Better keep an eye out on the Euro, I do think it’s slightly on the higher side at the moment.

Sterling rose to a high of 1.5867! I’m not sure whether it will last at these levels, but let’s see how the GDP turns out this evening.

Aussie ran all the way up to 0.9645!  The next high is at 0.9870 which occurred 13^th July 2008. I would be extremely cautious of buying around these levels!

Data today:

German GFK consumer confidence survey – 6am GMT

German CPI – 6am GMT

UK GDP – 8.30am GMT

US consumer confidence – 2pm GMT

US Richmond Fed Manufacturing index