Sterling continued to trade lower following the release of the latest RICS data and poor retail sales numbers. Only 17% of respondents reported rising house prices, the smallest percentage in six months, and well below expectations of 30%. UK retail sales numbers rose 2.2% in February, highlighting an air of caution amongst consumers. The third concern for Sterling was Moody's saying that the UK faces a difficult balancing act in deciding how to handle their support for the UK banking sector.
- Australian business confidence matched a seven year high according to National Australia Bank
- Today's Financial Times reports that China will keep buying US debt
- The Greek Prime Minister warned last night that if the Greek crisis worsened, it could lead to a new financial meltdown
Major Economic News
UK TRADE BALANCE