The continued to pull back as the FED reminds markets that lower interest rates will still be here for some time. Whilst yesterdays strong manufacturing report was bullish, this was offset by strong economic data from the UK and China. Investors appear to be flocking in to higher yielding currencies.

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Market News

  •  Sterling is lower on concerns that investor demand for UK gilts will disappear once the quantative easing programme has been completed
  •  ECB Board member Lorenzo Bini Smaghi commented that looser foreign exchange policies in Asia, in particular China, would benefit the global economy
  • Please note that we have non-farm payroll figures scheduled for release on Friday

Major Economic News

TIME

MARKET DATA

1500

Factory Orders and Pending Home Sales

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