The ONS this morning released UK unemployment figures showing a drop 45,000 for March and comes amidst a string of positive data sets for the UK. With the ongoing situation in the Euro zone and foreign investors determined not to hamper all EU relations are we starting to channel our neighbours inward investment?
Yesterday it was revealed that the UK trade deficit narrowed with a huge increase in demand for exports from the US, China and also Russia. With the current volatility on the single currency companies heavily reliant on importing goods using the Euro could well be looking elsewhere as budgeting and any kind of guarantee becomes an increasingly difficult task. With new trade opportunities developing from the West, far East and also an increase in demand for UK manufacturing are we starting to fill the gaps created by the problems in the Euro zone?
Confidence in the UK currency market remains strong with continuing gains against the CAD, NZD, AUD and Euro. If demand for British exports is fueling the market and driving Sterling strength we should approach with caution as every pip gained on the currency market makes outside investment seem less attractive. With the best buying rates agains several currency pairs it is a great time to be watching the currency market so make sure you speak to your broker about emerging releases that could end these runs on 01494 725 353. If you don’t have an account with us here at FCD feel free to sign up for a personal or corporate account at no cost or obligation or please feel free to email me on firstname.lastname@example.org.