Pre-Market Trading Report – British Pound Gains

Pre-Market Trading Report – British Pound Gains

UPDATED 6:55 am ET

STOCKS – Global stocks continued their relentless march higher on as investors shrugged off the protracted uncertainty surrounding Greece’s debt negotiations, pinning their hopes that a deal will be reached by the end of the week.

BONDS – US Treasuries traded near the low after yesterday’s impressive sell-off.

COMMODITIES – Oil dropped failing to build on gains of more than 1 percent in the previous session as analysts said a recent rally in prices was overblown.

CURRENCIES – The British pound jumped after minutes published by the BOE Wednesday showed officials predicting a “fairly sharp” pickup in inflation once the impact of lower oil prices fades. ECONOMIC DATA – US PPI m/m, Building Permits and CAD Wholesale Sales m/m due at 8:30, Industrial Production m/m and Capacity Utilization Rate at 9:15, FOMC Meeting Minutes at 14:00, NZD PPI Input q/q at 16:45 ET.

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