Daily Update - 14th February 2018
Euro gained higher against the dollar on Tuesday as gains in global equity markers encouraged traders to sell the dollar and run deep into riskier investments for Investors. Further news coming from Germany is that, Along with Martin German SPD Leaders quits in bid to calm the party after the famous coalition deal since majority of the party members have been in support of a coalition government. Draghi’s comments over Twitter also boosted the currency where he said “Europe has recovered from recession, but quality of employment in Euro Zone must be improved. Now, significant progress has been made in many areas, making is better equipped for the future. The British pound got a boost from UK inflation figures, as higher-than-expected figures backed the case of a soon to come rate hike in the kingdom. Quite an eventful day as we will see Inflation data from US and GDP figures from Euro zone. An important day for Euro as GDP figures will be released from Germany, the powerhouse economy of euro zone, along with whole euro zone GDP figures. Then from Germany we will see consumer price index which measures the average price change for all goods and services purchased by households for consumption purposes. These will be followed by Industrial Production which shows the volume of production of Industries such as factories and manufacturing. Then the focus shifts to USA with the release of Retail Sales which measures the total receipts of retail stores. The day will end with all important Inflation figures which the economists are expecting to ease to 1.9% from 2.1%. With solid economic growth, an upbeat job market and even higher wages, the absence of inflation is a “mystery” for US to keep up with expected rate hikes. Yesterday’s Market
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Today’s Explained
