Better Than Expected April ISM Manufacturing PMI Sparks Risk Appetite Rally

The manufacturing sector in the US has been at the forefront of the US recovery, but today, data was expected to show activity cooling from its recent levels.

The ISM Manufacturing index hit a level of 61.2 in March, following a 61.4 reading in February, which was the best since May

MPC and ECB Expected on Hold in May

Two months ago markets priced a rise in Bank Rate in May with near certainty. Now little more than a residual chance of such a tightening is seen, with the first hike not fully priced until Q4 2011. We have argued since Q4 last year that economic weakness was likely

Global Markets Closed, New Reports Expected

Despite the continued chance of debt restructuring in Greece which threatens to wreak havoc on the regional economy, the Euro rallied to a 16-month high against the US dollar as speculation increased that the ECB will continue to raise interest rates this year.

Will a Better Than Expected Euro-Zone CPI Estimate Keep the Bullish EURUSD Trend Intact?

Euro-Zone consumer prices estimate for the month of December is expected to rise an annualized 2.0 percent after climbing 1.9 percent in November. The reading is of particular importance due to the fact that inflation pressures lead the European Central Bank closer to raising the benchmark interest rate.