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.

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Market News

  • 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

TIME

MARKET DATA

1030

UK TRADE BALANCE