Weekly Trading Update
Euro markets open positivley
Perhaps officials could take a page out of the Bank of England’s book on how to deal with a struggling economy. In fact Mervyn King has repeatedly announced that more can and will be done to help support the British economy both in the short and long term.
The US and their debt ceiling is also back on the agenda today. The US President, Barack Obama, is expecting to sign the proposed bill in order to allow the government to continue to borrow until May 2014. Traders are largely expecting the bill to pass without problems and even bears would be reluctant to argue that Obama would attempt to delay the signing of the bill in order to pick up a few political points for the Republicans.
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