Main currency markets look very volatile

Currency markets are expected to remain volatile this week after sharp falls in bond and equity prices last Friday. Dealers expect tension to focus on a raft of UK economic data due this week.

UK producer prices, retail prices and employment data are all due in the coming days. The market will also play close attention to the Bank of England's quarterly inflation report, which will be released on Wednesday.

The outlook for the markets will also depend on the direction taken by the deutschmark, which gained last week on heavy dollar and sterling selling.

Bula: the directors of Bula are likely to face a lively annual general meeting at Jury's in Dublin on Tuesday. They can expect questions from shareholders about the company's ill-fated adventures in Russia, which are expected to lead to a write off of around £8 million.

This year the company has experienced a series of resignations from the board, which culminated in the departure of the former executive chairman, Mr Jim Stanley. Mr Stanley, who resurrected Bula in1987, resigned "to pursue his other mining interests".

Arcon: Arcon International Resources shareholders are to meet in Dublin on Tuesday to vote on the proposal to de-merge the hydro-carbon interest of Arcon into a new company called Providence. The new company is expected to be launched on the Exploration Securities Market of the Dublin Stock Exchange later in the year.

Monday

UK Producer prices index; Ryanair first quarter results

Tuesday

UK July Retail prices; Bula Resources annual general meeting; Arcon extraordinary general meeting

Wednesday

UK unemployment figures for July; Bank of England Quarterly inflation report; US retail and producer prices; First Ireland annual general meeting

Thursday

February trade statistics; US consumer prices and industrial production; National Treasury Management Agency to announce details of bond auction to be held on August 19th.

Friday

July wholesale price index.