Euro (€) Currency Thread

inspector_monkfish

06:58 13Jul09 UK EVENTS THIS WEEK: Inflation and Unemployment Data Due

London, July 13.

June"s BRC retail sales monitor was released just after midnight BST and showed
shop prices rising 0.7% in June from a 1.3% pick up in May.

UK inflation figures for June will be unveiled at 09:30 on Tuesday.
Annualized CPI is forecast to fall to 1.8%, from 2.2% in May.

Incoming BoE MPC member Adam Posen"s appointment hearing also takes place on Tuesday, with his written response to a questionnaire to be released at 08:30GMT. Posen will join the MPC on September 1 (replacing Tim Besley).

Unemployment and earnings data will be disclosed on Wednesday at 09:30.

inspector_monkfish

1.1535 trading

inspector_monkfish

1.1553 trading

inspector_monkfish

1.1560 trading

inspector_monkfish

late rally here
up to 1.1585

inspector_monkfish

1.1626 trading this morning

inspector_monkfish

gbp/eur trdaing at 1.1645 just 2mins before Inflation data

inspector_monkfish

09:30 14Jul09 - UK inflation falls below BoE's 2 pct target in June

LONDON, July 14 - British consumer price inflation fell below the Bank of England's target for the first time in almost two years in June while a broader price gauge fell at a record pace, official data showed on Tuesday.

The Office for National Statistics said consumer prices rose 0.3 percent on the month in June, taking the annual rate to 1.8 percent, the lowest since September 2007, from 2.2 percent in May.

The broader measure of retail price inflation, which includes housing costs, fell an annual 1.6 percent, its sharpest drop since records began in 1948.

The figures were broadly in line with analysts' forecasts and as such are unlikely to settle the debate about whether the BoE will expand its 125 billion pound asset purchase target for quantitative easing.

Policymakers have been expecting inflation to ease markedly as a result of the recession and have been surprised by its stickiness in recent months.

Prior to June, consumer price inflation had been above the central bank's 2 percent target since October 2007, peaking at 5.2 percent last September.

The biggest downward effect on the annual CPI rate came from food and non-alcoholic drink prices which fell last month but rose in the same month last year.

Meat, bread, fruit, vegetables and dairy products all contributed. There was also downward pressure from furniture prices which rose less than last year.

One upward pressure on the index came from the price of computer games which rose by more than a year ago.

inspector_monkfish

now trading at 1.1620

inspector_monkfish

where is everyone?
thought you were all interested in gbp/eur rate before your summer hols or large transfers of illegal cash ???

rallied back up to 1.1670