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Posted April 30th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP - 1.2282
US$/GBP – 1.6294
CHF/GBP – 1.4764
CAN$/GBP – 1.5982
AUS$/GBP – 1.5586
ZAR/GBP – 12.595
JPY/GBP – 130.52
HKD/GBP – 12.6401
NZD/GBP – 1.9812
SEK/GBP – 10.936
AED/GBP – 5.9781
US$/EURO – 1.3258
INR/GBP – 85.46

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 strong day on Friday breaking through new resistance hitting a 22 month high of 1.2292 against the euro and an 8 month high of 1.6279 against the US dollar as news from Europe and the US drove the market. If the manufacturing, construction and services Purchasing Managers’ Index (PMI) figures released this week are poor, sterling will be under pressure following the weak GDP figures last week. Call in now for the latest update and a live quote.

The euro had a very poor start to the day on Friday as Standard and Poor’s (one of the big three credit rating agency’s) downgraded Spain two notches from A to BBB+ whilst giving Spain a negative outlook. A relatively solid Italian bond auction saw the euro recover somewhat during the day and the euro hit a 2.5 week high against the US dollar of 1.3270. This week, the European Central Bank’s is expected to keep rates unchanged; furthermore, any news regarding Spain or the French elections could move the market significantly; so call in now the latest news and a live quote.

The US dollar had a poor day on Friday as worse than expected GDP data caused more speculation that the Federal Reserve may look to implement further Quantitative Easing. The Institute for Supply Management (ISM) PMI indices and the influential non-farm payroll data release will be some of the main drivers in the global foreign exchange market this week. Any variation away from the expected values has caused a lot of volatility in the past; so call in now for the latest update and a live quote.

Elsewhere, the Australian and New Zealand dollar performed well on Friday as did the Japanese yen as the Bank of Japan voted unanimously to increase its asset purchase facility by 5 trillion yen. This week, the Reserve Bank of Australia is expected to announce a 25 basis points cut in its interest rate this week to 4.00% with the markets anticipating a further 25 basis point cut in June. Other data out this week includes Chinese Manufacturing PMI, Canadian GDP data and unemployment data from New Zealand. Call in now for a live update and the live quote.


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Posted April 27th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2270
US$/GBP – 1.6171
CHF/GBP – 1.4747
CAN$/GBP – 1.5952
AUS$/GBP – 1.5601
ZAR/GBP – 12.651
JPY/GBP – 130.67
HKD/GBP – 12.5482
NZD/GBP – 1.9921
SEK/GBP – 10.912
AED/GBP – 5.9368
US$/EURO – 1.3171
INR/GBP – 85.14 

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 volatile week hitting fresh 20 month highs of 1.2275 against the euro and fresh 6 month highs of 1.6205 against the US dollar despite a raft of bad data being released. The UK is now in a technical recession after preliminary GDP figures showed the economy unexpectedly slumped by -0.2% in the last quarter. These figures are being disputed by certain economists who are still adamant that the UK grew last quarter; however, irrespective to the true figure it is evident that the economy is very weak. Furthermore, data released this week showed that the total government debt now exceeds the £1 trillion mark for the first time ever. Sterling remains fairly strong despite the poor data released; we will have to see if this pattern continues. Call in now for the latest news and a live quote.

The euro had a poor start to the week as a raft of poor services and manufacturing Purchasing Managers’ Index (PMI) data released in the Eurozone caused the euro to weaken off against the majority of currencies. Developments in the French presidential elections have unsettled the markets as the Franco-German relationship at the centre of the Eurozone could be broken if Sarkozy loses the election. On the agenda today is Italy’s benchmark 10 year bond auction, consumer climate figures from Germany and French consumer spending. Call in now for a live update and the latest news.

A raft of poor data including jobless claims, consumer confidence and declining new home sales figures hinted that the Federal Open Market Committee (FOMC) may implement further quantitative easing this week; however, no such suggestion was made. The FOMC actually improved its forecasts for the US economy; but, did suggest that quantitative easing could be increased if it was deemed necessary. Advanced GDP data is released today; however, much like the preliminary data in the UK it is often revised at a later data. Despite the potential inaccuracy figures often cause a lot of volatility so call in now for a live quote and the latest news.

Elsewhere, the Australian dollar performed poorly this week as poor quarterly Consumer Price Index (CPI) and Producer Price Index (PPI) figures were released. The Indian rupee weakened off to a 3.5 year low against sterling. Canadian retail sales fell by more than anticipated in February. The Reserve Bank of New Zealand’s announced that it was keeping its official cash rate on hold at 2.5%. The Bank of Japan’s rate decision, press conference and monetary policy statement were all announced late last night; but, there is not a great deal of data out during the rest of the day. Call in now for the latest news and a live quote.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
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Posted April 26th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2235
US$/GBP – 1.6189
CHF/GBP – 1.4706
CAN$/GBP – 1.5902
AUS$/GBP – 1.5597
ZAR/GBP – 12.5230
JPY/GBP – 131.43
HKD/GBP – 12.5621
NZD/GBP – 1.9804
SEK/GBP – 10.8680
AED/GBP – 5.9421
US$/EURO – 1.3229
INR/GBP – 84.95

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 weakened off against the majority of currencies yesterday morning as quarterly GDP figures released showed that the UK is now technically back in recession; the first double dip recession since the 1970’s. The news that the UK is now back in recession has prompted a call for further quantitative easing from certain sectors of the market; however, the asset purchase program is still expected to be kept on hold next month. There is very little market data out of the UK today except mortgage approval figures; as a result, the market will look elsewhere for influence so call in now for a live quote and the latest news.

The euro had a mixed day yesterday strengthening against sterling in the morning following the poor GDP figures released in the UK; but, came under pressure against the majority of currencies as the day progressed. Yesterday, the ECB president called for a “growth compact” as the measures currently employed are not having the desired effect. The German Chancellor backed this idea stating that “structural reforms” need to be implemented. The Eurozone still remains on a knife edge, and any news could cause a lot of volatility so call in now for a live update and a live quote.

In the US, durable goods orders dropped sharply yesterday with the worst fall seen since 2009; but, the big news was the Federal Open Market Committee (FOMC) improving its forecasts for the US economy; furthermore, there was a distinct lack of mention for further quantitative easing which calmed the markets. Unemployment claims figures and the monthly change in the number of homes under contract to be sold are the main releases on the agenda today. Call in now for the latest news and a live quote.

Elsewhere, the commodity backed currencies performed well yesterday with the Canadian and Australian dollars recovering fairly well from earlier in the week. Late last night, the Reserve Bank of New Zealand’s official cash rate decision was announced and the governor of the Bank of Canada was also speaking. Call in now the latest news and a live quote.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
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Posted April 25th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2235
US$/GBP – 1.6134
CHF/GBP – 1.4703
CAN$/GBP – 1.5932
AUS$/GBP – 1.5654
ZAR/GBP – 12.561
JPY/GBP – 131.39
HKD/GBP – 12.5219
NZD/GBP – 1.9891
SEK/GBP – 10.871
AED/GBP – 5.9241
US$/EURO – 1.3190
INR/GBP – 84.85

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 a fresh 6 month high of 1.6160 against the US dollar whilst pushing slightly higher against the euro reaching 1.2275; before weakening off sharply in the afternoon. Public sector borrowing for March came in above market expectations reaching £15.8 billion meaning that the total debt now exceeds the £1 trillion mark for the first time ever. Today’s quarterly GDP data will be watched closely by investors as clear sign of economic health in the country. Call in now for the latest news and a live quote.

The euro started the day under a lot of pressure before rallying against the majority of currencies as successful debt auctions from Spain and Italy boosted market confidence. The European Central Bank’s president is speaking first thing this morning and should provide some insight on the state of the economy in the Eurozone. Call in now for a live update and the latest news.

US consumer confidence missed markets expectations yesterday whilst declining new home sales figures led to further speculation that the Federal Open Market Committee (FOMC) could announce more quantitative easing today. The FOMC statement, press conference and economic projections will be the main news on the agenda today; with investors playing close attentions to the announcements; so, call in now for the latest news and a live quote.

Elsewhere, the Australian dollar performed poorly yesterday as quarterly as Consumer Price Index (CPI) showed inflation rose by much less than expected, hinting at a potential interest rate cut next month. Canadian retail sales also fell by more than anticipated in February. Late last night, the Reserve Bank of New Zealand’s official cash rate decision will be announced and the governor of the Bank of Canada will be speaking. Call in now the latest news and a live quote.  

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 April 24th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2245
US$/GBP – 1.6131
CHF/GBP – 1.4722
CAN$/GBP – 1.5981
AUS$/GBP – 1.5701
ZAR/GBP – 12.6412
JPY/GBP – 130.59
HKD/GBP – 12.5249
NZD/GBP – 1.9841
SEK/GBP – 10.889
AED/GBP – 5.9214
US$/EURO – 1.3175
INR/GBP – 85.14

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 hit fresh highs of 1.2270 against the euro yesterday as fears surrounding the Eurozone were once more at the forefront of traders’ minds. The main release today will be the public sector net borrowing figures which the markets will keep a close eye on to see if there is any movement away from the expected £15.6 billion value. With sterling buoyed by positive sentiment from last week, we will have to watch closely how the markets react to the data released over the next few days; so call in now for a live quote and the latest news. 

A raft of poor services and manufacturing Purchasing Managers’ Index (PMI) data released in the Eurozone caused the euro to weaken off against the majority of currencies yesterday. Uncertainty continued to spread in the region as the developments in the French presidential elections unsettled the markets. With little actual data released today, the markets will look towards the data released in the UK, the US and any news out of the Eurozone in general for influence. Call in now for the latest news and a live update.

The US dollar performed well yesterday strengthening against the majority of currencies due to its safe haven status as risk aversion drove the market. Data released today includes retail sales, consumer confidence and new home sales figures all of which have the potential to cause volatility in the markets, so call in now for a live quote and the latest update.

Elsewhere, the Australian dollar was one of the worst performing currencies yesterday as weaker than expected Australian Producer Price Index (PPI) figures were released and risk aversion was one of the main drivers in the market. The Japanese yen was strong yesterday due to its safe haven status. The Australian Consumer Price Index (CPI) was released late last night and the other main data on the agenda is Canadian retail sales and a member of the Bank of Canada is also speaking. Call in for the latest news and a live quote.

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 April 23rd, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2228
US$/GBP – 1.6099
CHF/GBP – 1.4698
CAN$/GBP – 1.6012
AUS$/GBP – 1.5592
ZAR/GBP – 12.6091
JPY/GBP – 130.851
HKD/GBP – 12.4996
NZD/GBP – 1.9741
SEK/GBP – 10.915
AED/GBP – 5.9134
US$/EURO – 1.3168
INR/GBP – 84.12

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

Sterling had a strong start to the day on Friday strengthening against the majority of currencies as monthly retail sales figures came in much better than anticipated, with sterling reaching a 6 month high against the US dollar of 1.6140. This week’s main releases include figures for public sector net borrowing and the preliminarily quarterly GDP data which investors hope will be positive following Fridays upbeat retail sales figures. Call in now for a live update and a live quote.

The Euro had a very strong day on Friday strengthening against the majority of currencies as German IFO business climate figures came in much better than expected. Contrary to this positive sentiment, Spain’s benchmark 10 year bond yield breached the 6% level again on Friday causing yet more concern for the troubled nation. Euro zone Purchasing Managers’ Index (PMI) is the main release from the region this week; moreover, the European Central Bank’s president is also speaking. The markets will still keep a very close eye on the developments in Spain which have moved the markets a great deal recently. Call in now for the latest news and a live quote.

The US dollar performed poorly on Friday as the markets absorbed positive data released from both the UK and Germany and in anticipation of the Federal Open Market Committee (FOMC) announcements this week. This week the markets will pay very close attention to the FOMC’s interest rate decision and the influential press conference that follows; with some market leaders expecting the report to hint at the potential for further quantitative easing. There is a whole raft of other data released this week which includes GDP data, jobless claims and consumer confidence. With such a large amount of data released this week there is the potential for volatility so call in now for the latest news and a live update.

Elsewhere, the Japanese yen performed poorly on Friday and Canadian core CPI released came in as markets had predicted. The Bank of Japan and Reserve Bank of New Zealand’s official cash rate decisions will be watched closely by investors this week. Furthermore, Australian Producer Price Index (PPI) and Consumer Price Index (CPI); Chinese manufacturing PMI and Canadian retail sales are also released so call in now for the latest news and a live update. 

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 April 20th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2216
US$/GBP – 1.6057
CHF/GBP – 1.4683
CAN$/GBP – 1.5981
AUS$/GBP – 1.5541
ZAR/GBP – 12.561
JPY/GBP – 131.09
HKD/GBP – 12.464
NZD/GBP – 1.9741
SEK/GBP – 10.791
AED/GBP – 5.8955
US$/EURO – 1.3145
INR/GBP – 82.51 

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 performed extremely well this week reaching a 20 month high of 1.2250 against the euro, a 5 month high against the US dollar of 1.6075 and strengthened against the majority of other currencies. The main news this week was that the Bank of England’s policy meeting minutes revealed that one less MPC member voted to increase quantitative easing compared to last month which saw sterling rally against the majority of currencies. Furthermore, figures this week showed that the number of new people claiming unemployment benefits rose by less than expected and the unemployment rate also dropped. Monthly retail sales figures are the main release on the agenda today; we will have to see if the figures support the positive sentiment towards sterling this week. Call in now for the latest news and a live quote.

The euro ended the week fairly strong against the majority of currencies apart from sterling despite a raft of poor data released. Fears that Spain could become the new Greece were at the forefront of trader’s minds this week. Worse than expected Eurozone current account figures and poor expected Eurozone confidence did little to help matters. Furthermore, the International Monetary Fund (IMF) lowered Europe’s growth forecasts to a contraction of -0.3% in 2012 and Spain is expected to contract by -1.8%. The main data released today will b German business climate sentiment data which will go some way to show the present confidence from the region’s largest economy. With the main focus remaining on the developments in Spain there is the potential for large movements in the market; so call now for a live update and a live quote.

The US dollar had a mixed week as the positivity in the US at the start to the week due to better than expected retail sales figures and building permits was countered by a raft of disappointing data including weekly jobless claims figures and existing home sales. The International Monetary Fund (IMF) raised global growth estimates in 2012 from 3.3% to 3.5%; also, raising the US growth estimate from 1.8% to 2.1%. There is very little data out of the US today as the markets will look elsewhere for influence; so, call in now for the latest update and a live quote.

Elsewhere, there was a raft of information out this week which included the Bank of Japan hinting that it will expand its easing program. Sweden’s central bank announced that it was keeping interest rates on hold at 1.5%. The Bank of Canada left the central bank rate unchanged and suggested that economy will be stronger in 2012 than it had originally forecast. The Reserve Bank of India cut its central bank rate by 50 basis points. The Reserve Bank of Australia meeting minutes suggested that interest rates could be cut if inflation remains low. China announced that it will now allow its currency (the RMB) to fluctuate up and down by 1% against the USD. The Core Consumer Price Index (CPI) figures from Canada is the main release today after a busy week; so call in now for an update and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
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Posted April 19th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2220
US$/GBP – 1.6039
CHF/GBP – 1.4697
CAN$/GBP – 1.5893
AUS$/GBP – 1.5481
ZAR/GBP – 12.5490
JPY/GBP – 130.73
HKD/GBP – 12.4422
NZD/GBP – 1.9638
SEK/GBP – 10.7986
AED/GBP – 5.8877
US$/EURO – 1.3122
INR/GBP – 82.99

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 very strong day yesterday strengthening against all the major currencies whilst reaching a 20 month high of 1.2230 against the euro. Figures released showed that the number of new people claiming unemployment benefits rose by less than expected and the unemployment rate also dropped.  The Bank of England’s policy meeting minutes revealed that the MPC members voted 8-1 to keep quantitative easing unchanged as opposed to 7-2 last month which boosted sterling’s strength as investors viewed that the likelihood of further quantitative easing in the short term had diminished. With very little data out of the UK today, the markets will look to absorb the news from yesterday whilst looking elsewhere for influence; so, call in now for the latest update and a live quote.

The euro was particularly weak against sterling yesterday, ended the day fairly flat against the US dollar; but was strong against the majority of other currencies. The Eurozone current account figures released yesterday were much worse than excepted posting a €1.3 billion deficit from an expected surplus of €4.1 billion. Furthermore, EU construction output for February was much worse than expected plunging by 7.1%. The International Monetary Fund (IMF) also stated that European banks may be forced to try and slash their balance sheets due to the on-going economic crisis potentially causing another credit crunch. A crucial Spanish 10 year bond auction will be held today and will go some way to show investors’ confidence in the nation. There is the potential for even more volatility today so call in now for a live quote and the latest news.

The US dollar traded in a fairly similar pattern to the euro today, being weak against sterling, ending the day fairly flat against the euro; but strong against the majority of other currencies. Today sees a raft of data released in the US including manufacturing data; unemployment claims figures and the number of existing residential building sold in the last month. Call in now the latest news and a live quote.

Elsewhere, the Japanese yen was one of the weakest currencies today as the Bank of Japan hinted that it will expand its easing program. Sweden’s central bank announced that it was keeping interest rates on hold at 1.5%. The Bank of Canada suggested that economy will be stronger in 2012 than it had originally forecast. Australian business confidence figures and Japanese trade balance data were released overnight; but, the markets will look to the on-going developments in Spain and the data released from the US for influence today. Call in now for a live quote 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 April 18th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.2130
US$/GBP – 1.5916
CHF/GBP – 1.4592
CAN$/GBP – 1.5752
AUS$/GBP – 1.5325
ZAR/GBP – 12.447
JPY/GBP – 129.30
HKD/GBP – 12.3541
NZD/GBP – 1.9386
SEK/GBP – 10.778
AED/GBP – 5.8438
US$/EURO – 1.3114
INR/GBP – 81.93

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 strong morning strengthening against the majority of currencies before weakening off against the commodity backed currencies. Inflation data released yesterday showed Consumer Price Index (CPI) rose to 3.5% year on year, well above the bank of England’s target of 2.5%; but, the markets do not expect an interest rate rise anytime soon. Data today will show the number of new people claiming unemployment benefits and the minutes from the last Bank of England meeting will provide some insight on the Bank of England’s view on the state of the Economy. Call in now for the latest news and a live quote.

The euro traded in a fairly similar pattern to sterling today weakening off in the afternoon against the commodity backed currencies. A successful Spanish bond auction sold more than the EUR 3 billion it had hoped to raise; furthermore, a better than expected confidence reading from Germany calmed fears in the Eurozone somewhat. Moreover, the Spanish Prime minister said that they have done enough to avoid a bailout and a member of the European Central Bank also said that he "doesn’t expect Spain” to need a bailout; however, the markets will need to see some strong evidence to support this sentiment before confidence can return. Contrary to this positivity, the International Monetary Fund (IMF) lowered Europe’s growth forecasts suggesting it will contract -0.3% in 2012 and Spain is expected to contract by -1.8%. Data from the UK and any news Spain will be the main focus for investors today; so, call in now for a live update and the latest news.

Mixed data from the US yesterday saw housing starts fall to a level worse than markets predicted; however, building permits beat expectations. The International Monetary Fund (IMF) raised global growth estimates in 2012 from 3.3% to 3.5%; also, raising the US growth estimate from 1.8% to 2.1%.  With little data out of the US today, the markets will look for influence elsewhere so call in now for the latest news and a live quote.

Elsewhere, the Reserve Bank of India cut its central bank rate by 50 basis points when a cut of 25 basis points was widely expected. The Reserve Bank of Australia meeting minutes suggested that interest rates could be cut if inflation remains low. The Canadian dollar performed extremely well in the afternoon after the Bank of Canada left the central bank rate unchanged for the 18th month in a row. The comments from the Bank of Canada strengthened the Canadian dollar as suggestions that removing stimulus ‘may become appropriate" meaning that Canada interest rates could be raised shortly; furthermore, growth forecasts were upgraded from 2.0% to 2.4%. The Bank of Canada Monetary Policy report is released today as well as the Bank of Canada’s press conference both of which could cause further volatility for the Canadian dollar. Call in now for the latest update and a live quote.

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 April 17th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.2115
US$/GBP – 1.5862
CHF/GBP – 1.4564
CAN$/GBP – 1.5884
AUS$/GBP – 1.5394
ZAR/GBP – 12.632
JPY/GBP – 127.65
HKD/GBP – 12.3171
NZD/GBP – 1.9456
SEK/GBP – 10.771
AED/GBP – 5.8237
US$/EURO – 1.3096
INR/GBP – 81.89

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 a new 18 month high against the euro yesterday peaking at 1.2175 before retracing in the afternoon. Against the US dollar sterling started the day fairly flat before strengthening in the afternoon. Consumer Price Index (CPI) figures released today will show investors how the price of goods and services purchased by consumers has changed in the past month. Expectations are for it to be higher than hoped because of the high oil price. Call in now for the latest news and a live quote.

The euro had a very poor start to the day with Spain’s benchmark 10 year bond yield breeching the 6% level yesterday as fear was the main driver in the market in early morning trading. The Eurozone trade balance figures were also significantly worse than the markets had expected. The euro then recovered and staged a rally in the afternoon against most of its major counterparties. Data to be released today will show the sentiment of institutional investors to the Eurozone.  Today and on Thursday we have debt issuances by the Spanish government and the success of these fund raisings will have a major influence on where to next for the euro. Volatility will be high so call in now for a live update and the latest news.

The US dollar had a mixed day yesterday, starting strong against the majority of currencies before weakening in the afternoon. Better than expected monthly core retail sales and retail sales data boosted the markets confidence. However, poor figures from the Empire State manufacturing index were also released yesterday and the Treasury International Capital data highlighted there had been significantly less foreign investment in long-term securities than the markets had predicted. Housing data is the main release on the agenda today with the figures outlining the number of new residential building permits issued during the previous month. This has moved the market in the past so call in now for a live quote and the latest news.

Elsewhere, the Japanese yen was strong in the morning due to its safe haven status before weakening off in the afternoon. China announced that it will allow its currency (the RMB) to fluctuate up and down by 1% against the USD compared to the 0.5% that has been in place since 2007. The minutes from the Reserve bank of Australia’s last policy meeting were released late last night and the Bank of Canada interest rate decision is also announced today which is widely expected to remain at 1%. Call in now for a live quote 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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