Daily Financial Market Outlook

Daily Forex Fundamentals | Written by Lloyds TSB | Apr 27 10 04:07 GMT |

The euro remained under pressure yesterday, as concerns about the Greek economic situation intensified, particularly on conditions that may be attached to the IMF-EU bailout package. €/£ fell to a 3-month low of 0.8607, with sterling also shaking off last week's weak first estimate of Q1 GDP and ongoing concerns about a hung parliament. Ahead today, the key data releases are the UK CBI distributive trades, BBA loans and US Conf. Board consumer confidence surveys. We expect the CBI survey's reported sales balance to have fallen to 10 in March, but basically remaining in line with the long-term average. We should get a rise in BBA loans for house purchase. In the US, the Conf. Board consumer confidence index has underperformed the Univ. of Michigan sentiment survey recently and may rise to around 55. Chart: UK confidence among retailers has improved, according to both the CBI and our own in-house surveys Lloyds TSB Bank http://www.lloydstsbfinancialmarkets.com Disclaimer: Any documentation, reports, correspondence or other material or information in whatever form be it electronic, textual or otherwise is based on sources believed to be reliable, however neither the Bank nor its directors, officers or employees warrant accuracy, completeness or otherwise, or accept responsibility for any error, omission or other inaccuracy, or for any consequences arising from any reliance upon such information. The facts and data contained are not, and should under no circumstances be treated as an offer or solicitation to offer, to buy or sell any product, nor are they intended to be a substitute for commercial judgement or professional or legal advice, and you should not act in reliance upon any of the facts and data contained, without first obtaining professional advice relevant to your circumstances. Expressions of opinion may be subject to change without notice. Although warrants and/or derivative instruments can be utilised for the management of investment risk, some of these products are unsuitable for many investors. The facts and data contained are therefore not intended for the use of private customers (as defined by the FSA Handbook) of Lloyds TSB Bank plc. Lloyds TSB Bank plc is authorised and regulated by the Financial Services Authority and is a signatory to the Banking Codes, and represents only the Scottish Widows and Lloyds TSB Marketing Group for life assurance, pension and investment business.