Cable higher but gains capped

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Source: Forexpros

On Tuesday, the British Pound advanced versus the U.S. counterpart on speculation about a 'soft' Spanish bailout, but gains seemed to be capped by concerns over further monetary stimulus by the Bank of England. GBP/USD was traded at 1.6123, which was a 0.33% gain for the European afternoon trading session. Earlier, it hit a session high if 1.6132.

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Tue, 16 Oct 2012 15:34:21 GMT

US shares soared on upbeat retail sales data

US shares surged on Monday on upbeat US retail sales data. US retail sales soared 1.2% in September while experts predicted the retail sales to rise by 0.8% last month. Adding to the positive mood of the US equities, China's inflation rate decelerated to 1.9% last month, suggesting that the POBC has a room for monetary easing. The S&P 500

Tue, 16 Oct 2012 15:05:20 GMT

U.S. industrial production increased by 0.4% last month

The U.S. Federal Reserve reported on Tuesday that industrial output in the U.S. gained more than expected last month, following a sharp fall in the preceding month. Industrial production gained 0.4% in September after a 1.4% decline in August, which was revised downwards from an initially reported reading of 1.2%. Analysts expected that the September's reading would be an increase of 0.2%.

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