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Posted February 29th, 2012 by Charles Purdy


EURO/GBP – 1.1829
US$/GBP – 1.5921
CHF/GBP – 1.4259
CAN$/GBP – 1.5817
AUS$/GBP – 1.4724
ZAR/GBP – 11.9029
JPY/GBP – 128.18
HKD/GBP – 12.3482
NZD/GBP – 1.8898
SEK/GBP – 10.4374
AED/GBP – 5.8481
US$/EURO – 1.3456
INR/GBP – 77.98

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

An okay day for sterling yesterday holding its own or even gaining against some currencies. The UK Confederation of British Industry (CBI) figures showed that the level of consumer spending in the UK was much better than predicted climbing to an eight month high. Out today the main UK release is the Inflation Report and one of the members of the Bank of England is also speaking. Call in now for the latest update and the latest news.

In Europe yesterday, the German Preliminary Consumer Price Index CPI figures released were better than expected and data revealed that the general economic confidence in the Euro zone has improved more than markets had anticipated. In other news, Ireland has decided to hold a referendum on whether or not to sign the European Fiscal Treaty which will enforce tighter budget rules for Ireland and the other Euro zone nations. It would appear that the vote is effectively a decision whether or not to stay in the euro. The main news out of Europe today will be the result of the parliamentary elections in both Finland and the Netherlands. Call in now for the latest update and the latest news.

In the US today, the markets were shocked by the poor durable goods data released; however, the consumer confidence figures were better than the markets had anticipated and have reached the highest level in a year. Preliminary GDP data is released out of the states today and following the announcement the Chairman of the Federal bank will testify providing further insight into the world’s largest economy. Call in now for the latest update and the latest news.

Elsewhere, the Swiss National Bank Governing Board’s Interim Chairman was speaking yesterday; but, surprisingly didn’t mention the €1.20/Chf1 peg which is still under threat; whilst the unemployment data released came in as expected. Out late last night and first thing this morning a raft of data was released including business confidence figures from New Zealand, retails sales data from Australia and Switzerland’s economic barometer figures. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:http://www.smartcurrencyexchange.com/quote.aspx

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Posted February 28th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP - 1.1803
US$/GBP – 1.5857
CHF/GBP – 1.4225
CAN$/GBP - 1.5795
AUS$/GBP – 1.4727
ZAR/GBP – 11.9648
JPY/GBP – 127.91
HKD/GBP – 12.2985
NZD/GBP – 1.8874
SEK/GBP – 10.4365
AED/GBP – 5.8242
US$/EURO - 1.3432
INR/GBP - 77.88

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

There was very little data out of the UK yesterday with sterling weakening against the commodity backed currencies as risk appetite drove the market and holding its own against the euro and the US$. The only significant data released today is the Confederation of British Industry (CBI) figures which will provide some insight on the level of consumer spending in the UK.  Call in now for the latest update and the latest news.

After a turbulent few days the euro had a quiet day losing a little of ground against the US$ and sterling. The German parliament approved the 2nd Greek bailout yesterday.  The Euro zone as a region awaits the result of further parliamentary votes including Finland’s vote on Wednesday.  The G20 ministers (ministers form the 20 major global economies) are calling on Europe to put up more money to strengthen its own firewall before discussing the other nation’s contributions to the International Monetary Fund. The potential increase of the €500 billion Euro zone bailout firewall (the European Financial Stability Facility (EFSF)) is due to be discussed at the Euro zone summit meeting on March 1-2; however, the final decision is not expected to be made until much later in month. Standard and Poor’s one of the big three credit rating agency has also changed its outlook for the EFSF to negative yesterday as a result of the on-going developments. Call in now for the latest update and the latest news.
In the US yesterday, pending home sales figures released were a better than estimated complimenting the positive sentiment surrounding the US economic recovery at present. Out today consumer confidence data is released as well as figures showing the change in the total value of new purchase orders placed with manufacturers for durable goods. Call in now for the latest update and the latest news.
Elsewhere, there was very little data released yesterday. The Japanese yen had a strong day gaining against most currencies. This was after a period of weakening following the Bank of Japan’s intervention to weaken the yen. Today’s main releases both come from Switzerland where unemployment figures are released and the Swiss National Bank Governing Board’s Interim Chairman will speak and help to provide some insight on the state of the economy. Call in now for the latest update and the latest news.
To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:http://www.smartcurrencyexchange.com/quote.aspx

Posted February 27th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP - 1.1801
US$/GBP – 1.5862
CHF/GBP – 1.4222
CAN$/GBP - 1.5888
AUS$/GBP – 1.4874
ZAR/GBP – 12.1089
JPY/GBP – 128.35
HKD/GBP – 12.3029
NZD/GBP – 1.9022
SEK/GBP – 10.4238
AED/GBP – 5.8246
US$/EURO - 1.3445
INR/GBP - 77.78

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Revised GDP data released on Friday confirmed that the UK economy shrank in the fourth quarter of 2012 underlining the sentiment that the road to recovery will be slow. The market expectation is that we will see slight growth next quarter meaning the UK will avoid a technical recession; however, there is still a great deal of uncertainty.  The main releases this week include manufacturing and construction Purchasing Managers’ Index (PMI) as well as data revealing the change in the price of homes in the UK. Call in now for the latest update and the latest news.

A meeting of the 20 largest industrial nations [G20] meetings was held over the weekend where officials worked on plans to increase funds to the global rescue package. It is understood that an increased input from the Euro zone governments must be delivered in the next two months if all of the G20 nations are to provide the IMF with more money. Data out of Europe this week includes German retail sales, Euro zone wide unemployment figures and the Consumer Price Index (CPI). Call in now for the latest update and the latest news.
In the US, figures released on Friday showed that the purchases of new homes exceeded January’s expectations providing further evidence that the US recovery is gathering pace. There is a raft of data out of the US this week which includes preliminary GDP data, unemployment data and the chairman of the Federal Bank is also speaking which will provide more insight into the world’s largest economy. Call in now for the latest update and the latest news.
Elsewhere, there was not much data out on Friday; however, late last night New Zealand posted an unexpected trade deficit with exports falling to a four month low. This week’s main data includes Canadian GDP data, Chinese manufacturing PMI figures and a raft of data out of Australia.  Call in now for the latest update and the latest news.
To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:http://www.smartcurrencyexchange.com/quote.aspx

Posted February 24th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.1764
US$/GBP – 1.5740
CHF/GBP – 1.4190
CAN$/GBP – 1.5710
AUS$/GBP – 1.4689
ZAR/GBP – 12.0025
JPY/GBP – 126.790
HKD/GBP – 12.2060
NZD/GBP – 1.8809
SEK/GBP – 10.4085
AED/GBP – 5.7827
US$/EURO – 1.3375
INR/GBP – 77.38

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

This week has seen sterling weaken against the majority of currencies amid concerns that we could see further quantitative easing above the £50 billion announced at the start of February. The Bank of England’s minutes released this week showed that two of its members voted for the injection of £75 billion. On a more positive note, public sector net borrowing figures released at the start of the week suggest that the UK will beat its own targets to cut the national deficit this year. Out today the market will look towards the revised GDP data to provide some clarity on the state of the UK economy. Call in now for the latest update and the latest news.

In Europe, early on Tuesday morning the second Greek bailout was finally agreed bringing some respite to European markets as it appears Greece will avoid defaulting in the near term at least. Yesterday saw stronger than expected Germany Information and Forschung (IFO) data released demonstrating the feeling that the German economy will remain strong despite the ongoing problems in Europe. Moreover, the Greek parliament has taken its first step towards securing the now agreed €130 billion bailout by signing off on the bond swap agreement for private investors which is due to start today. Call in now for the latest update and the latest news.
In the US, there has not been a great deal of data released this week; however, the release of unemployment claims data yesterday showed that the number of individuals who filed for unemployment insurance for the first time during the past week was at the lowest since March 2008. Housing data released yesterday also beat estimates reaffirming that the recovery in the US is starting to pick up pace. Out today the main release out of the US is the new home sales figures. Call in now for the latest update and the latest news.
Elsewhere, the main news our this week came from China, where the central bank has cut the reserve requirement ratio to boost lending and manufacturing. Purchasing Managers Index  (PMI ) figures released showed a contraction for the fourth straight month providing further suggestion that the Chinese economy is slowing down. In Australia the central bank’s minutes showed that the bank would still consider cutting interest rates if demand conditions weakened despite keeping the rate being kept on hold at 4.25% the week before. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted February 23rd, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.1817
US$/GBP – 1.5684
CHF/GBP – 1.4242
CAN$/GBP – 1.5661
AUS$/GBP – 1.4704
ZAR/GBP – 12.0652
JPY/GBP – 125.745
HKD/GBP – 12.1685
NZD/GBP – 1.8881
SEK/GBP – 10.441
AED/GBP – 5.7632
US$/EURO – 1.3280
INR/GBP – 77.25

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling had a torrid day losing ground against the majority of currencies following the release of the Bank of England monetary policy committee meeting minutes. Sterling ended the day at a 2 month low against the euro and lost over a cent and a half against the dollar. The Bank of England’s minutes unexpectedly revealed that two policy makers had voted for an even greater expansion to the asset purchase program calling for an extra £25 billion to be injected into the UK’s economy. This news resulted in sterling weakening across the board as the markets speculated that further quantitative easing could soon be on the way. Call in now for the latest update and the latest news.

In Europe, weak Purchasing Managers Index (PMI) data released yesterday sirprised the global markets as both the services and manufacturing sectors contracted suggesting that a recession in Europe could soon follow. Whilst the German services and manufacturing sectors are still expanding; unfortunately, the figures fell short of the markets expectations. The most positive news out of Europe yesterday was the unexpected expansion of the French manufacturing sector. Fitch, one of the three major credit rating agencies has downgraded Greece to its lowest rating above a default and the other credit rating agencies are expected to follow suit despite the new €130 billion bailout being agreed. Call in now for the latest update and the latest news.
In the US, figures released yesterday showed that the number of previously owned houses sold in the US increased; but, at a slower rate than expected. The main release today is the unemployment claims figures which are expected to show a decrease in the number of people filing for unemployment insurance in the last week supporting the employment led recovery we have seen in recent weeks. Call in now for the latest update and the latest news.
Elsewhere, manufacturing PMI data out of China showed a contraction for the fourth straight month providing further suggestion that the Chinese economy is slowing down. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted February 22nd, 2012 by Charles Purdy

Daily Currency Note


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EN-GB;mso-bidi-language:AR-SA”1.1914
US$/GBP –
1.57708
CHF/GBP –
1.4387
CAN$/GBP –
1.5721
AUS$/GBP –
1.4795
ZAR/GBP –
12.1883
JPY/GBP –
126.431
HKD/GBP –
12.2298
NZD/GBP –
1.8930
SEK/GBP –
10.481
AED/GBP –
5.7923
US$/EURO –
1.3231
INR/GBP –
77.62

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form

Yesterday, the markets sought to digest the news that the €130 billion bailout for Greece had finally been signed. The deal which was confirmed early on Tuesday morning resulted in a fairly volatile day with sterling finishing the day weaker against the euro. The UK’s public sector net borrowing figures came in better than the markets had anticipated showing the biggest budget surplus in four years. The surplus was a result of higher than expected tax receipts in January and the suggestion is that the UK will beat its own targets to cut the national deficit. Out today the Bank of England monetary policy committee meeting minutes will provide details on how the members voted on both the interest rate decision and the asset purchase facility which resulted in the injection of another £50 billion into the UK’s economy. Call in now for the latest update and the latest news.

Following the announcement that the Euro zone had agreed the second Greek bail out there was knee jerk reaction in favour of the euro; however, the trend lost momentum throughout the day.  Some important points from the deal include the requirement for Greece to reduce its debt to 120.5% of GDP by 2020 from over 164% where it currently stan ds. Private sector investors were also expected to occur loses of 53.5% on the Greek bonds they held.

Posted February 21st, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.1965
US$/GBP – 1.5858
CHF/GBP – 1.4444
CAN$/GBP – 1.5754
AUS$/GBP – 1.4794
ZAR/GBP – 12.1499
JPY/GBP – 126.585
HKD/GBP – 12.2972
NZD/GBP – 1.8940
SEK/GBP – 10.551
AED/GBP – 5.8243
US$/EURO – 1.3238
INR/GBP – 78.00

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

There was very little data released yesterday with the US banks closed in observance of Presidents Day. The markets were jittery in anticipation of the release of positive news regarding Greece which drove sterling weaker against the euro. The main data out of the UK today is the release of Public Sector Net Borrowing figures. With tax receipts higher than expected for the Inland Revenue in January it will interesting to see if we are seeing reduced on-going requirements. Call in now for the latest update and the latest news.

The euro was buoyed yesterday by the markets optimism that a bailout would finally be secured. Talks began in Brussels yesterday afternoon between the Euro zone finance ministers as they tried to piece together the rescue package Greece needed to avoid defaulting. Final agreement was reached late in the night. However, the sentiment was not all positive as doubts still exist as to Greece’s long term economic viability.  In Europe today there is very little data released aside from the consumer confidence figures as markets will look to digest any further development regarding Greece. Call in now for the latest update and the latest news.
It was Presidents Day in the US so trading volumes were down due to the bank holiday. The US dollar was broadly lower due to the Chinese rate cut and the increased positive sentiment surrounding Greece. There is very little data out of the US again today. Call in now for the latest update and the latest news.
Elsewhere, China’s central bank has cut the reserve requirement ratio to boost lending. This is the second cut in two months and more are expected which suggests weak growth expectations from China. The main releases today include the minutes from the Australian monetary policy meeting and the inflation expectations from New Zealand released first thing this morning. Later on today Canada releases its retail sales figures. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted February 20th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.2015
US$/GBP – 1.5850
CHF/GBP – 1.4520
CAN$/GBP – 1.5754
AUS$/GBP – 1.4742
ZAR/GBP – 12.2028
JPY/GBP – 125.810
HKD/GBP – 12.2896
NZD/GBP – 1.8920
SEK/GBP – 10.625
AED/GBP – 5.8214
US$/EURO – 1.3185 
INR/GBP – 78.12

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

On Friday, retail sales figures were released in the UK with the data coming in much better than expected. There is very little economic data released across the World today plus there is a bank holiday in the US. Therefore the focus will be firmly on the EU finance meeting in Brussels this afternoon. This week the main data out of the UK is public sector net borrowing, revised GDP data and the MPC meeting minutes which will shed some more light on the Bank of England’s view on the state of the UK economy. Call in now for the latest update and the latest news.

On Friday in Europe, the German Chancellor, Italian Prime Minister and the Greek Prime Minister held a conference call and indicated strongly that the bailout package will be finalised at today’s EU finance meeting. The Greek prime minister has also stated that it has found the extra €325 million in cuts demanded by the EU before the bailout could be approved. The private sector investment bond swap still needs to be finalised which is expected to reduce the Greek debt by about €100 billion. This week the focus remains on the much hoped for conclusion to the Greek bailout package. It has to remembered talks have now been running for 7 months and the damage to business confidence and economic growth have been significant. Call in now for the latest update and the latest news.
In the US, Core Consumer Price Index (CPI) figures came in as expected; but, CPI data was worse than expected showing consumer prices have climbed less than expected. The Core CPI figures reveal the fastest pace of growth since September 2008. This week there is more unemployment data out of the US and home sales data is also released. Call in now for the latest update and the latest news.
There was a raft of better than expected Canadian data on Friday which included Canadian Core CPI figures released at a level more favourable than analysts had predicted. This week the minutes from the Australian monetary policy meeting will provide insight into the surprise decision by the Reserve Bank of Australia to keep interest rates unchanged at 4.25%. The other main releases include the inflation expectations from New Zealand and the Purchasing Managers Index (PMI) data in China. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted February 17th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP - 1.2026
US$/GBP - 1.5810
CHF/GBP - 1.4523
CAN$/GBP - 1.5740
AUS$/GBP - 1.4679
ZAR/GBP - 12.2689
JPY/GBP - 124.99
HKD/GBP - 12.2530
NZD/GBP - 1.8895
SEK/GBP - 10.6090
AED/GBP – 5.8040
US$/EURO - 1.3138
INR/GBP - 77.69

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling reached its highest price in a week against the euro amid on-going concerns over the Greek bailout. Here in the UK unemployment increased by 48,000 between October and December to 2.67million which was in line with expectations. The number of people claiming jobseeker’s allowance also rose by 6,900 to 1.6 million, which is the highest it has been since January 2010. The poor unemployment data alongside evidence that the economy contracted in the fourth quarter is fuelling claims that the government has tried to cut the deficit too quickly. The Bank of England also hinted at the potential for more Quantitative Easing due to the quarterly inflation report presenting new, higher inflation forecasts. The Governor of the Bank of England stated that the UK economy faced “substantial headwinds” that are “hampering our recovery and rebalancing," Economic data is fairly light in the UK today as the markets look for any developments surrounding Greece Call in now for the latest update and the latest news.

The Euro weakened against the majority of currencies as further concerns arose with regards to the potential second bailout for Greece. Rumours have been circulating that certain Euro zone governments have lost confidence that Greece can adhere to its promises. Apparently proposals were being discussed to potentially delay part or the entire Greek package. The Euro zone’s economy contracted in the last quarter of 2011; but, the German economy shrank by less than expected and the French economy unexpectedly grew showing that whilst there is the potential of a mild recession on the horizon, there is also the potential for growth in the first quarter of this year. Not much data is released in Europe today as the focus remains firmly on Greece. Call in now for the latest update and the latest news.
In the US, data released yesterday showed that the balance of domestic and foreign investment was worse than expected. Members of the Federal Open Market Committee meeting have also suggested that the Federal Bank may need to consider increasing its asset purchasing facility if the economy lost momentum. A raft of data is released in the US today including unemployment claims, building permits and Producer Price Index (PPI); furthermore, the Chairman of the Federal Bank is talking, all of which can provide some form of insight in to the world’s largest economy. Call in now for the latest update and the latest news.
Elsewhere, stronger than expected retail sales data was released in New Zealand strengthening the New Zealand dollar with the GBP/NZD rate challenging its record low from August 2011 and the EUR/NZD rate reaching a fresh all-time low. The main data released today is the unemployment statistics for Australia. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted February 16th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP
– 1.2040
US$/GBP – 1.5688
CHF/GBP – 1.4538
CAN$/GBP – 1.5712
AUS$/GBP – 1.4678
ZAR/GBP – 12.2076
JPY/GBP – 123.259
HKD/GBP – 12.1646
NZD/GBP – 1.8945
SEK/GBP – 10.5664
AED/GBP – 5.7589
US$/EURO – 1.3024
INR/GBP – 77.43

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling reached its highest price in a week against the euro amid on-going concerns over the Greek bailout. Here in the UK unemployment increased by 48,000 between October and December to 2.67million which was in line with expectations. The number of people claiming jobseeker’s allowance also rose by 6,900 to 1.6 million, which is the highest it has been since January 2010. The poor unemployment data alongside evidence that the economy contracted in the fourth quarter is fuelling claims that the government has tried to cut the deficit too quickly. The Bank of England also hinted at the potential for more Quantitative Easing due to the quarterly inflation report presenting new, higher inflation forecasts. The Governor of the Bank of England stated that the UK economy faced “substantial headwinds” that are “hampering our recovery and rebalancing," Economic data is fairly light in the UK today as the markets look for any developments surrounding Greece Call in now for the latest update and the latest news.

The Euro weakened against the majority of currencies as further concerns arose with regards to the potential second bailout for Greece. Rumours have been circulating that certain Euro zone governments have lost confidence that Greece can adhere to its promises. Apparently proposals were being discussed to potentially delay part or the entire Greek package. The Euro zone’s economy contracted in the last quarter of 2011; but, the German economy shrank by less than expected and the French economy unexpectedly grew showing that whilst there is the potential of a mild recession on the horizon, there is also the potential for growth in the first quarter of this year. Not much data is released in Europe today as the focus remains firmly on Greece. Call in now for the latest update and the latest news.
In the US, data released yesterday showed that the balance of domestic and foreign investment was worse than expected. Members of the Federal Open Market Committee meeting have also suggested that the Federal Bank may need to consider increasing its asset purchasing facility if the economy lost momentum. A raft of data is released in the US today including unemployment claims, building permits and Producer Price Index (PPI); furthermore, the Chairman of the Federal Bank is talking, all of which can provide some form of insight in to the world’s largest economy. Call in now for the latest update and the latest news.
Elsewhere, stronger than expected retail sales data was released in New Zealand strengthening the New Zealand dollar with the GBP/NZD rate challenging its record low from August 2011 and the EUR/NZD rate reaching a fresh all-time low. The main data released today is the unemployment statistics for Australia. Call in now for the latest update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx