up up up goes the cable

UK CPI beat market expectation yesterday, which boosted the cable up to above 1.6000.

Risk currencies did extremely well last night over risk-supportive news out of Europe, with the good Spanish auction and good german Zew data.

Aussie remained close to parity, but with China tightening to combat inflation, we could see the Aussie being shaken up a little.

Data today

UK average weekly earnings – 9.30am GMT

UK ULO unemployment rate – 9.30am GMT

UK claimant count rate – 9.30am GMT

UK Jobless claims change – 9.30am GMT

Eurozone current account – 9am GMT

US building permits – 1.30pm GMT

US housing starts – 1.30pm GMT