Positive French Data Lifts Sentiment

Risk sentiment has shown a revival in today’s trading session, aided by upbeat French business confidence data and a firm start to the European equity session. This follows the release of dismal manufacturing data in Europe and China yesterday, which had supported gains in the US Dollar. Later in today’s market session, traders are expected to focus on US new home sales data for further clues to future direction. At home, data out earlier today indicated a decline in British consumer confidence. This comes on the back of yesterday’s weak UK retail sales and has strengthened market speculation of further easing measures by the BoE.

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