The Financial Fixed Odds update from David Evans, Market Analyst, BetOnMarkets.

 
After a busy economic news yesterday, here’s how the land lies currently:

• The Bank of England & ECB provoked little reaction with interest rate statements that came in largely as expected. Both kept rates on hold and the Bank of England maintained quantitative easing at current levels.
• Between these two currencies, the Pound was dominant, rising by 0.5% against the Euro (EUR/GBP).
• The Greek government returned to the market with a surprisingly well received bond placement. Despite this, the Euro was down heavily against the Pound and US Dollar.
• There are still worries about the outcome of the meeting between the Greek premier and German premier Angel Merkel today. Both parties are keen to stress that the meeting is not about an aid package for Greece, but the markets will be awaiting the outcome of the meeting eagerly all the same.
• Also weighing on the Euro was news that the Greek finance ministry had been blockaded by union workers striking against the planned austerity budget with fears of a similar action in Portugal and Spain.
• The latest UK house price index showed the housing rally has stalled, but the severe weather conditions were thought to play a part in this.
• Economic news from the US was mixed with unemployment claims coming in slightly lower than expected offset by a fall in pending home sales.
• The US Dollar was the strongest currency across the board with the New Zealand Dollar the weakest. The Canadian Dollar was also very strong on a relative basis.

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