Good morning,
Today we have some positive euro data!! German unemployment dropped and the jobless rate reached a record low as businesses and investors become more confident that Europe’s largest economy will keep growing. Germany’s economy returned to growth in the third quarter and business confidence and investor sentiment both improved in November as the ECB added stimulus to the euro area.
It is a quiet day in the UK following yesterdays second estimate of UK GDP for Q3 reaffirming the initial print of a 0.7% q/q expansion. Tomorrow we have the Nationwide house prices and consumer confidence figures.
The US Dollar exchange rates fell against for a third day, the longest streak in a month, after data raised concern the U.S. economic recovery has slowed down! U.S. Labor Department figures yesterday showed the pace of improvement in the labor market may have cooled.
U.S. financial markets are shut for a public holiday today (Thanks Giving).
MORNING MARKET RATES:
GBPEUR 1.2635
GBPUSD 1.5761
EURUSD 1.2472
GBPSEK 11.696
GBPAED 5.7893
GBPAUD 1.8370
EURGBP 0.7913
GBPJPY 185.12
GBPTHB 51.674