Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted August 31st, 2012 by Charles Purdy

Daily Currency Note, August 31st 2012

This week – (Last week)
EURO/GBP 1.2612 – (EURO/GBP 1.2628)
US$/GBP 1.5781 – (US$/GBP 1.5856)
CHF/GBP 1.5152 – (CHF/GBP 1.5182)
CAN$/GBP 1.5651 – (CAN$/GBP 1.5762)
AUS$/GBP 1.5312 – (AUS$/GBP 1.5226)
ZAR/GBP 13.3641 – (ZAR/GBP 13.1804)
JPY/GBP 123.78 – (JPY/GBP 124.69)
HKD/GBP 12.2434 – (HKD/GBP 12.304)
NZD/GBP 1.9737 – (NZD/GBP 1.9532)
SEK/GBP 10.5436 – (SEK/GBP 10.4634)
AED/GBP 5.7970 – (AED/GBP 5.8216)
US$/EURO 1.2508 – (US$/EURO 1.2546)
INR/GBP 87.87 – (INR/GBP 87.81)

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

Sterling stayed fairly range bound this week due to a lack of significant data released in the UK and because trade volumes remain low in the final week of the summer holidays. Overnight, consumer confidence figures were released and first thing this morning data showing the change is house prices was also announced. The summer doldrums have kept the markets relatively quiet this week; but, with so much uncertainty in Europe and the with the annual Jackson Hole symposium taking place in the US there is still the potential for a lot of volatility today. Call in now for the latest rates.

The euro had a fairly strong start to the week as traders’ remain expectant that the European Central Bank will intervene in the government bond markets to drive down borrowing costs. A fairly successful benchmark Italian 10 year bond auction and relatively solid bond auctions in Spain also helped to calm the bond markets. Market concerns were also eased following comments from the Chinese Premier suggesting that the Chinese may buy European bonds. On a more negative note, German business climate sentiment figures came in below market estimates. German retail sales were released first thing this morning and then later on today, year on year inflation estimates and the rate of unemployment in Europe as a whole will also be released. Call in now for the latest news.

US dollar had a mixed week as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released this week showed that consumer confidence figures had missed market estimates; but, the change in the number of homes pending sale increased by much more than anticipated. As has been the case for much of the week, the focus today remains firmly on the Chairman of the Federal Bank’s speech at the second day of the annual Jackson Hole symposium where he is expected to give further clarification on any monetary policy that may be implemented to stimulate growth. Get the latest news by calling in.

Elsewhere, we saw a lot of volatility caused by action taken or the lack thereof by a raft of central banks. The Hungarian central bank surprised the markets by cutting interest rates by 0.25%, the Polish central bank all but ruled out increasing interest rates in the short term and the suggestion was made that the Swedish central bank should look to lower interest rates to 1% this year. In other news, the Japanese government downgraded its view of its own economy. Overnight, a raft of data from Japan was released including inflation data and the rate of unemployment and later on today, the main feature will be the Canadian GDP figures which expected to show very slight growth of 0.1%. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Leave a Reply

You must be logged in to post a comment.

Posted August 30th, 2012 by Charles Purdy

Daily Currency Note, August 30th 2012


EURO/GBP – 1.2612
US$/GBP – 1.5828
CHF/GBP – 1.5152
CAN$/GBP – 1.5681
AUS$/GBP – 1.5314
ZAR/GBP – 13.2774
JPY/GBP – 124.48
HKD/GBP – 12.2804
NZD/GBP – 1.9712
SEK/GBP – 10.5241
AED/GBP – 5.8121
US$/EURO – 1.2546
INR/GBP – 88.10

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

Sterling had a strong day yesterday making gains against the majority of currencies, and in particular against the Polish zloty, Hungarian forint and Swedish krona despite the lack of any significant data released in the UK. Out today, we have the release of the monthly change in the net lending to individuals and the number of new mortgage approvals will also be announced. It is more likely that news from elsewhere especially Europe will affect sterling’s exchange rate in the short term and as we are still in the summer doldrums we could find movements very rapid if any surprise announcements are made. Call in now for the latest rates.

The euro was weak against sterling and the US dollar yesterday despite reassurances from the European Central Bank (ECB) President that it will do everything in its power to ensure “price stability for all euro area citizens”. On the data front, German inflation figures were higher than expected, whilst positive news came from Italy following better than expected retail sales figures and a better than expected Italian bond auction for short term bonds. The markets will now expect today’s benchmark Italian 10 year bond auction to reinforce this positive sentiment from Italy yesterday. Other data released includes the change in the number of unemployed people during the previous month in Germany. Call in now for the latest news.

The US dollar had a mixed day yesterday as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released showed the change in the number of homes pending sale increased by much more than anticipated. Out today, data showing the change in the number of new people claiming unemployment benefits, inflation figures and the change in the levels of spending by individuals will all be released. However, the main focus will remain on the annual Jackson Hole symposium on Friday and any announcements made on further liquidity being pumped into the US economy. Get the latest news by calling in.

Elsewhere, the Polish zloty was particularly weak yesterday after the central bank all but ruled out increasing interest rates in the short term, the Hungarian forint was weakened after its central bank surprised the markets by cutting interest rates by 0.25% and the Swedish krona also struggled following the suggesting that its central bank will need to cut interest rates to 1% this year. Early this morning, business confidence statistics from New Zealand were released; as well as private capital expenditure data and building approvals figures from Australia. Later on today the main release will be the trade balance data announced in Canada. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 29th, 2012 by Charles Purdy

Daily Currency Note, August 29th 2012

EURO/GBP – 1.2592
US$/GBP – 1.5802
CHF/GBP – 1.5133
CAN$/GBP – 1.5624
AUS$/GBP – 1.5243
ZAR/GBP – 13.2971
JPY/GBP – 124.20
HKD/GBP – 12.2651
NZD/GBP – 1.9636
SEK/GBP – 10.4873
AED/GBP – 5.8054
US$/EURO – 1.2544
INR/GBP – 87.94

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

Sterling had a mixed day yesterday weakening off to €1.2570/£1 as the markets continue to bet on the European Central Bank stepping in to stabilise Euro zone government borrowing costs by capping bond yields. With very little data on the UK’s economic agenda today, the expectation would be for volatility to remain low; however, sterling is close to a key support level against the euro. Sterling could either bounce off this support level and continue the upward trend it has shown against the euro since the start of the year or if it weakens through the support level we could see sterling lose ground very quickly. Call in now for the latest rates.

The euro had a relatively strong day yesterday following a solid bond auction in Spain and traders’ expectations of central bank intervention to calm the government bond markets. Other data released included German consumer sentiment which remained unchanged from last month. Out today the main releases will be German inflation data and Italian retail sales figures. Call in now for the latest news.

The US dollar was relatively weak yesterday as consumer confidence figures released missed market estimates. The main release today will be the preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes the number of homes pending sale and the Beige book will reveal the state of the local economies from all 12 Federal Reserve Banks. Get the latest news by calling in.

Elsewhere, the main news released yesterday was that the Japanese government had downgraded its view of its own economy. Other data released included South Africa’s second quarter GDP figures which were released slightly below estimates at 3.2%, and the change in the number of new homes sold in Australia showed a sharp contraction from last month. Out today, an economic barometer from Switzerland will go some way to show the relative economic strength of the nation as well as providing a forecast for the next 6 months, whilst Canadian raw materials inflation data will also be released. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 28th, 2012 by Charles Purdy

Daily Currency Note, August 28th 2012

EURO/GBP – 1.2632
US$/GBP – 1.5772
CHF/GBP – 1.5178
CAN$/GBP – 1.5628
AUS$/GBP – 1.5214
ZAR/GBP – 13.2712
JPY/GBP – 123.89
HKD/GBP – 12.2338
NZD/GBP – 1.9512
SEK/GBP – 10.3848
AED/GBP – 5.7916
US$/EURO – 1.2478
INR/GBP – 87.96

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

Sterling had a poor day on Friday as revised GDP figures came in as expected showing a marginal improvement from the preliminary figures which were revised from -0.7% to -0.5%. In other news, one of the members of the Bank of England suggested that in the event of further loosening in monetary policy, a rate cut would be preferred over additional quantitative easing which was negative for sterling. Other data released showed that the Preliminary Business Investment figures were well below market estimates. A quiet week for the UK follows yesterday’s bank holiday with little significant data released. As it is the final week of the summer holidays we should expect trading volumes to stay low but with so much uncertainty in Europe and heightened expectation in the US there is still the potential for a lot of volatility. Call in now for the latest rates.

The euro had a turbulent day on Friday as once again markets continued to speculate whether or not the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields and this is despite the ECB stating it would wait until after the German court ruling on the European Stability Mechanism (ESM). Some confidence was restored into the Eurozone after Germany’s Chancellor stated that she wanted Greece to remain in the Eurozone and that she is working to make this so; however, made no suggestion was made that any extensions or amendments to the Greek bailout package would be given. Yesterday, German business climate sentiment figures came in below market estimates and the main other release this week will be the Italian benchmark 10 year bond auction on Thursday, whilst the ECB president will also be speaking on Saturday. Call in now for the latest news.

The US dollar had a mixed day on Friday as the Chairman of the Federal Bank hinted that further monetary policy could be used to stimulate growth and the annual Jackson Hole symposium this week is expected to give further clarification. Figures showing the change in the total value of new purchase orders placed with manufacturers for durable goods had increased by much more than anticipated; however, when transportation items were excluded the reading was much more negative showing contraction when slight growth had been anticipated. Another busy week for data this week includes Preliminary GDP figures which are expected to show the economy grew by 1.7%. Other data released includes consumer confidence figures, the number of homes pending sale, the change in the number of new people claiming unemployment benefits and the Chairman of the Federal Bank is also speaking. Get the latest news by calling in.

Elsewhere, trade balance data from New Zealand was much better than expected with a surplus of NZD15 million and Australian Conference Board index figures came out at 0.2%. This week one of the main released will be the Canadian GDP figures which expected to show very slight growth of 0.1%. Other data released includes business confidence from New Zealand; private capital expenditure and building approvals data from Australia, and then on Saturday morning, Chinese manufacturing Purchasing Managers’ Index (PMI) will be released. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 24th, 2012 by Charles Purdy

Daily Currency Note, August 24th 2012

This week – (Last week)
EURO/GBP 1.2628 – (EURO/GBP 1.2705)
US$/GBP 1.5856 – (US$/GBP 1.5712)
CHF/GBP 1.5182 – (CHF/GBP 1.5262)
CAN$/GBP 1.5762 – (CAN$/GBP 1.5519)
AUS$/GBP 1.5226 – (AUS$/GBP 1.5034)
ZAR/GBP 13.1804 – (ZAR/GBP 12.9672)
JPY/GBP 124.69 – (JPY/GBP 124.79)
HKD/GBP 12.304 – (HKD/GBP 12.1936)
NZD/GBP 1.9532 – (NZD/GBP 1.9438)
SEK/GBP 10.4634 – (SEK/GBP 10.5358)
AED/GBP 5.8216 – (AED/GBP 5.7714)
US$/EURO 1.2546 – (US$/EURO 1.2357)

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

Please note; due to the bank holiday in the UK on Monday 27th of August next week, Smart Currency Exchange and Smart Currency Business will not be open for trade. Business will resume as normal on Tuesday 28th.

Sterling had a mixed week strengthening against the Canadian dollar and most notably against the US dollar where it reached a 3 month high after the Federal Open Market Committee (FOMC) meeting minutes were released but lost ground against the euro as poor UK economic data undermined sterling. The main UK economic data was the public sector borrowing figures which were worse than expected due to a rise in government spending and a fall in tax receipts. Other data released this week included figures from the Confederation of British Industry (CBI) which showed a sharp drop in manufacturers expected orders over the next three months. Out today, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of -0.7% will be revised to -0.5%. We are still in the summer season which means that trading volumes are low and therefore any unexpected events can move rates very quickly so call in now for the latest rates.

The euro has had a fairly strong week as markets continued to speculate that the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields. Other news this week included the Eurogroup chief stating that Greece was now on its “last chance” and that it is still expected to implement all necessary reforms following a meeting with the Greek prime minister. The Eurogroup chief then went onto say that there would be no discussion of any extensions or amendments to the bailout package until after the Troika report mid-September. Europe wide manufacturing and services Purchasing Managers’ Index (PMI) released yesterday were better than expected; but, nearly all figures showed industry contraction. The Greek prime minister will meet the leaders of Germany and France today and any news released following this meeting could cause a lot of volatility; so, call in now for the latest news.

The US dollar had a poor end to the week following the release of the FOMC meeting minutes which indicated the Federal Bank may look to loosen monetary policy in the short term if the economy continues to struggle. A string of weak data released this week did little to help the US dollars strength as the number of existing homes sold in the previous month and the number of new people claiming unemployment benefits and manufacturing both missed market estimates. Out today, the main release will be figures depicting the change in the total value of new purchase orders placed with manufacturers for durable goods. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled this week as extremely poor retail sales figures were released showing a 0.4% drop when a marginal 0.1% increase had been anticipated. Minutes from the Reserve Bank of Australia’s (RBA) latest monetary policy meeting minutes made no suggestion it would be looking to loosen monetary policy in the near future. The Peoples Bank of China has also taken measures to increase liquidity in the world’s second largest economy. Overnight, the Governor of the RBA was speaking and first thing this morning the Governor of the Bank of Japan was also speaking. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 23rd, 2012 by Charles Purdy

Daily Currency Note, August 23rd 2012

EURO/GBP – 1.2657
US$/GBP – 1.5887
CHF/GBP – 1.5204
CAN$/GBP – 1.5728
AUS$/GBP – 1.5124
ZAR/GBP – 13.0851
JPY/GBP – 124.82
HKD/GBP – 12.3321
NZD/GBP – 1.9446
SEK/GBP – 10.5381
AED/GBP – 5.8319
US$/EURO – 1.2552
INR/GBP – 87.61

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

Sterling had a relatively strong day yesterday despite the lack of any significant data released in the UK, strengthening against the majority of currencies and reaching a 3 month high of 1.59 against the US dollar after the Federal Open Market Committee (FOMC) meeting minutes were released. Another fairly quiet day for data in the UK today includes realised sales figures from the Confederation of British Industry (CBI) and statistics showing the number of new mortgage approvals in the previous month. Call in now for the latest rates

The euro traded fairly flat yesterday as investors waited on news of the meeting between the Greek Prime minister’s and the leaders of Germany and Luxembourg (also the Eurogroup chief). The Greek Prime minister planned to try and renegotiate the strict austerity measures that are currently in place; however, The Eurogroup chief said that Greece was now on its “last chance” and that it is still expected to implement all necessary reforms. Furthermore, there would be no discussion of any extensions or amendments to the bailout package until after the Troika report mid-September. Europe wide manufacturing and services Purchasing Managers’ Index (PMI) will be the main news on the economic agenda today and should give further indication of the state of the economy’s of the nations across Europe. Call in now for the latest news.

The US dollar had a mixed day in the run up to the FOMC meeting minutes which were released yesterday evening. Following the release, the dollar was sold off sharply as the Federal Bank hinted that further quantitative easing or other means of monetary easing could be implemented shortly if the economy continues to struggle. On the data front, the number of existing homes sold in the previous month came in below market estimates. A fairly busy day for data in the US includes the number of new homes sold in the previous month, the change in the number of new people claiming unemployment benefits and manufacturing PMI figures will also be released. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled yesterday as extremely poor retail sales figures were released showing a 0.4% drop when a marginal 0.1% increase had been anticipated. Other data released included trade balance figures from Japan which showed the trade deficit was larger than expected. Overnight, Chinese PMI data was announced and then first thing this morning we saw the release of trade balance figures from Switzerland; but, very little other significant data is expected to be released throughout the course of the day. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 22nd, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2658
US$/GBP – 1.5776
CHF/GBP – 1.5214
CAN$/GBP – 1.5633
AUS$/GBP – 1.5107
ZAR/GBP – 13.0458
JPY/GBP – 125.19
HKD/GBP – 12.2390
NZD/GBP – 1.9518
SEK/GBP – 10.5188
AED/GBP – 5.7945
US$/EURO – 1.2456
INR/GBP – 87.57

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

Sterling had a mixed day yesterday losing ground against the euro and gaining against the US dollar. Data released showing that the level of public sector borrowing was worse than expected due to a rise in government spending and a fall in tax receipts undermined sterling. Other data released from the Confederation of British Industry (CBI) outlined that manufacturers expect orders to drop in the next three months by more than the market had initially estimated which is clearly a worry and again undermined sterling. The reason for sterling gaining against the US dollar was increased risk appetite arising from news elsewhere. With very little data released in the UK today the markets will keep a close eye on the meetings in Greece and the Federal Open Market Committee (FOMC) meeting minutes released in the US for influence. Call in now for the latest rates.

The euro had a relatively strong day as markets continued to speculate that the European Central bank (ECB) will intervene in Government borrowing costs by capping bond yields. Furthermore, a relatively strong Spanish bond auction helped the single currency maintain its strength. The main focus today will be on the Greek Prime minister’s meeting with the leaders of Germany, France and Luxembourg (also the Eurogroup chief) where he hopes to try and renegotiate the austerity measures that are currently in place. Any news or announcements following these meetings could cause a lot of volatility; so, call in now for the latest news.

The US dollar had a poor day yesterday weakening off against the majority of currencies as risk aversion drove the market due to central bank speculation from the ECB and The Peoples Bank of China taking measures to increase liquidity. The US market will pay close attention to the FOMC meeting minutes released this evening which should give some insight into the central banks potential for loosening monetary policy in the near future. Other data released today will show the number of existing homes sold in the previous month. Get the latest news by calling in.

Elsewhere, the Australian dollar started the day well following the release of the Reserve Bank of Australia’s (RBA) monetary policy meeting minutes which made no suggestion that it would be looking to loosen monetary policy in the near future. Other figures released showed that inflation expectations in New Zealand have decreased to 2.3% and the total value of sales made by wholesalers in Canada was much lower than anticipated. Overnight we saw the release of trade balance data from Japan; but, the main release today will be the retail sales figures released from Canada. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 21st, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2709
US$/GBP – 1.5728
CHF/GBP – 1.5272
CAN$/GBP – 1.5532
AUS$/GBP – 1.4991
ZAR/GBP – 13.0494
JPY/GBP – 124.78
HKD/GBP – 12.19
NZD/GBP – 1.9380
SEK/GBP – 10.4899
AED/GBP – 5.7671
US$/EURO – 1.2375
INR/GBP – 87.39

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

The summer continues with sterling having a steady day trading in a narrow range against most currencies. There was very little data out other than the monthly statistics from Rightmove which showed that the asking price of homes for sale has dropped. Out today, the main release on the agenda will be the public sector borrowing figures which are anticipated to show borrowing has reduced dramatically from last month with a surplus figure of £2.5 billion expected. Other data released includes statistics from the Confederation of British Industry (CBI) outlining the order expectations for manufacturers for the next three months. This will give the markets a good insight in how British industry is viewing the current economic climate. Call in now for the latest rates.

The euro had a positive start to the day as rumours spread that the European Central Bank (ECB) may start to set yield limits on Government bonds that it buys. These gains were short lived as the ECB stated that this idea had not been discussed and the German Central Bank (the Bundesbank) criticised the idea suggesting it would “entail significant stability risks.” With very little data out once more today the markets will look towards any suggestion of ECB intervention in the bond markets; as well as looking forward to the Greek Prime minister’s meeting on Wednesday with the leaders of Germany, France and Luxembourg (also the Eurogroup chief). Call in now for the latest news.

The US dollar remained fairly range bound yesterday in the absence of any key releases. With very little data out today, the US will look towards the UK and Europe for influence as well as looking ahead to the Federal Open Market Committee (FOMC) meeting minutes released on Wednesday evening. Get the latest news by calling in.

Elsewhere, the Hungarian forint was particularly strong yesterday, and the Australian dollar also strengthened in the run up to the Reserve Bank of Australia’s (RBA) monetary policy meeting minutes which were released overnight. The Australian dollar has moved in a narrow range against sterling in the last couple of years and is currently close to its strongest level. Other data released over night included inflation expectations from New Zealand. Later on today, the change in the total value of sales made by wholesalers in Canada will also be released. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 20th, 2012 by Charles Purdy

Daily Currency Note


EURO/GBP – 1.2705
US$/GBP – 1.5696
CHF/GBP – 1.5267
CAN$/GBP – 1.5531
AUS$/GBP – 1.5044
ZAR/GBP – 13.0422
JPY/GBP – 124.84
HKD/GBP – 12.1823
NZD/GBP – 1.9425
SEK/GBP – 10.4693
AED/GBP – 5.7668
US$/EURO – 1.2354
INR/GBP – 87.41

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

We continue to be in the summer doldrums with sterling having a fairly steady day on Friday with trading volumes remaining relatively low and a lack of any significant data being released. This week, the main release will be the revised GDP figures and market expectations suggest that the preliminary figures of -0.7% will be revised to -0.5%. Other data released this week will be the public sector borrowing figures and data showing the change in the asking price of homes for sale. So in theory it should be a quiet week for sterling but the one problem with low volumes is that any surprises can have a disproportionate effect on exchange rates and we have seen over the last few weeks how quickly there can be a two cent movement. Call in now for the latest rates.

The euro had a mixed day on Friday as monthly Producer Price Index (PPI) inflation data from Germany came in flat when a 0.4% increase had been anticipated. Other statistics showed that current account and trade balance figures were better than estimated; whilst, Spanish and Italian bond yields had dropped providing some respite for the euro in general. This week, Europe wide manufacturing and services Purchasing Managers’ Index (PMI) will be the main news on the economic agenda and should give further indication of the state of the economy’s of the nations across Europe. Call in now for the latest news.

The US dollar was fairly strong on Friday as consumer sentiment index figures came in above market estimates. A busy week for data in the US will be headlined by the release of the Federal Open Market Committee (FOMC) meeting minutes which should give some insight into the central banks potential for loosening monetary policy in the near future. Other data includes statistics showing the number of new and existing homes sold in the previous month, the change in the number of new people claiming unemployment benefits and data showing the change in the total value of new purchase orders placed with manufacturers for durable goods. Get the latest news by calling in.

Elsewhere, the Canadian dollar struggled on Friday as CPI inflation data missed expectations posting a deflation figure of -0.1% when inflation of 0.2% was anticipated. This week, a raft of data from Australia includes the latest monetary policy meeting minutes from the Reserve Bank of Australia (RBA) and the Governor of the RBA is also speaking. Other data this week includes Canadian retail sales figures, inflation expectations from New Zealand and Chinese PMI data. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

Posted August 17th, 2012 by Charles Purdy

Weekly Currency Note – w/e 17th August 2012

This week – (Last week)
EURO/GBP 1.2705 – (EURO/GBP 1.2701)
US$/GBP 1.5712 – (US$/GBP 1.5614)
CHF/GBP 1.5262 – (CHF/GBP 1.5255)
CAN$/GBP 1.5519 – (CAN$/GBP 1.5514)
AUS$/GBP 1.5034 – (AUS$/GBP 1.4835)
ZAR/GBP 12.9672 – (ZAR/GBP 12.6744)
JPY/GBP 124.79 – (JPY/GBP 122.50)
HKD/GBP 12.1936 – (HKD/GBP 12.1127)
NZD/GBP 1.9438 – (NZD/GBP 1.9281)
SEK/GBP 10.5358 – (SEK/GBP 10.4690)
AED/GBP 5.7714 – (AED/GBP 5.7331)
US$/EURO 1.2357 – (US$/EURO 1.2287)
INR/GBP 87.54 – (INR/GBP 86.41)

 

Sterling has had a reasonable week reaching monthly highs against the euro and the US dollar. Retail sales figures released yesterday were better than expected with retail sales gaining by 0.3% in July against a prediction of only 0.1% and probably more influentially, June’s figures were revised up to 0.8% from 0.1%. Better than expected employment data was also released this week; however, the worry is these buoyant figures in both retail sales and employment are only temporary inflated by the run up to the Olympics. This also implies next month’s release (for August) should also be fairly strong; so, the big test for state of the UK economy will be when September’s figures are announced. The Bank of England’s latest meeting minutes also revealed that all the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold which was as expected. A quiet day on the data front today means that the markets will look elsewhere for influence. Call in now for the latest rates.

The euro had a mixed week as preliminary GDP figures from France and Germany beat market expectations; however, Europe area wide preliminary GDP figures came in with an expected recession figure of -0.2%. In other news, the Greek Prime minister is due to meet the leaders of Germany, France and Luxembourg next week to try and renegotiate the austerity measures that are currently in place. First thing this morning Producer Price Index (PPI) data from Germany was released; whilst Current account and Trade balance figures will also be released early on. Call in now for the latest news.

The US dollar’s strength fluctuated this week as investors bet on the likelihood that the Federal Bank will implement another round of quantitative easing. Much better than expected retail sales figures were released, the number of new residential building permits granted hit a four year high and Consumer Price Index (CPI) figures came in slightly below estimates which led to some economists suggesting that further monetary easing would not be necessary in the short term. The main news on the agenda today will be the consumer sentiment index which is expected to show a marginal increase from last month. Get the latest news by calling in.

Elsewhere, the Japanese yen had a poor week following worse than expected preliminary GDP data being released; furthermore, comments from certain members of the Bank of Japan suggesting the Japanese economy would struggle due to the on-going problems in Europe did little to help the yen. Overnight, PPI data from New Zealand was released and the main other release will be the Canadian CPI later on today. 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

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus