Top Forex Trading

Global capital markets focused on issues related to Europe for the balance of the week, as better than expected economic data out of the US during the weak help lift riskier assets.  Markets seem to  price in in-line employment data after absorbing important monetary policy changes from the Bank of England.  The disappointment over no-change to the ECB policy, took some wind out of the sales of European bourses.  The Euro seemed to perform well despite a downgrade to Italian debt during mid week.

The Bank of England, decided not to wait for the quarterly inflation report but announce GBP75 billion additional bond purchases over the next four months.  Although many recognized it was possible, only less than half the economists surveyed expected the asset purchases to be announced.  Additionally, recent data, which included stronger than expected manufacturing and service PMIs seemed to discourage the undecided.     The central bank announced that it will buy GBP25 billion of gilts across a range of maturities in three weekly auctions.

The ECB kept its main interest rate at 1.5% for a third straight month, after raising it in increments in April and July. Although

Read more…