Goldman Sachs yesterday announced that it posted a quarterly profit of $3.4bln in Q2 of this year seeing financial shares jump higher around the world and indices shuffle upwards.

Analysts expected the Wall St firm to make money through its FICC business (Fixed Income, Commodity and Currency) and they duly did with an EPS of $4.93 vs expectations of 3.54.

This has squeezed bears overnight and seen GBP/USD jump through the high side of its recent trading range. This suggests it will hammer out a new top before moving lower once again.

Sterling was also under pressure against the euro but managed to fight back as German ZEW fell to 39.5 against a consensus view of 44.8, the first fall since October 2008, as worries over tighter credit conditions strangling the recovery on the continent.

There is no let up in the news flow from the US with the minutes from the FOMC at 19.00. This’ll come after US CPI at 13.30, Eurozone CPI at 10.00 and UK unemployment at 09.30.

World First’s Twitter page is up and running and we will be live ‘tweeting’ the impact of all these data releases and how they affect the markets. Click below for up-to-date news on all things currency. The address is http://twitter.com/World_First