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 May 29th, 2014 by Charles Purdy

Indian rupee continues to benefit from the election outcome

It was another relatively quiet day in markets elsewhere yesterday, with few significant data releases. Normal business resumed yesterday for the Indian rupee as post-election trader confidence returned to the Indian market and we saw the rupee strengthen against its most-traded peers. Other movers included the New Zealand dollar, which lost ground against all of its major peers following the release of below-forecast business confidence figures, and the Russian rouble, which gained strength, building on a strong May performance over the latter parts of this month.

It is another relatively quiet day today, with this morning’s Australian private capital expenditure data being the only release of note.

Looking to buy or sell currencies? Contact your trader now for live rates, news and currency-purchasing strategies.

Comments are closed.

Posted May 28th, 2014 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.2308
GBP/USD – 1.6770
EUR/GBP – 0.8121
EUR/USD – 1.3623
GBP/AED – 6.1588
GBP/AUD – 1.8127
GBP/CAD – 1.8207
GBP/CHF – 1.5047
GBP/CNY – 10.492
GBP/DKK – 9.1859
GBP/HKD – 13.001
GBP/HUF – 374.53
GBP/INR – 98.805
GBP/JPY – 170.76
GBP/NZD – 1.9700
GBP/RUB – 57.820
GBP/SEK – 11.116
GBP/THB – 54.736
GBP/TRY – 3.5351
GBP/ZAR – 17.604

Posted May 28th, 2014 by Charles Purdy

Sterling drifting lower

With little major economic data to support its strong position, sterling struggled across the board yesterday. After opening near its recent high levels following the bank holiday on Monday, sterling drifted lower throughout the day against both the US dollar and the euro. British Bankers’ Association mortgage approvals were shown to have fallen throughout the past month which, along with strong data from the US, contributed to sterling’s decline. Some analysts are also predicting that the recent victory for UKIP at the European elections may dampen investor enthusiasm for sterling, although it will take time for any significant effect to become apparent.

Today sees no major data releases from the UK. The only release of note will be the Confederation of British Industry’s realised sales data which will give a rough indication of consumer spending throughout May and isn’t expected to move sterling unduly.

Looking to buy or sell sterling? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 28th, 2014 by Charles Purdy

What will the ECB do next week?

The single currency had a mixed start to the week as the more notable movements in euro rates were largely experienced as a result of events elsewhere. The euro strengthened against sterling in response to worse-than-expected Mortgage Approvals data in the UK, but weakened against the US dollar as US Durable Goods Orders rose for April. European Central Bank (ECB) President Mario Draghi’s addresses both yesterday and on Bank Holiday Monday proved to be something of a damp squib as his rhetoric remained largely unchanged ahead of the all-important ECB meeting on 5th June.

An array of moderately important data is set to be released from the eighteen-nation bloc today. A number of the figures have potential to affect euro rates throughout the day if the actual figures vary greatly from forecasts. Key data due out includes German Unemployment Change figures, French Consumer Spending data and the quarterly House Price Index from Spain.

Looking to buy or sell euros? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 28th, 2014 by Charles Purdy

US dollar stronger on positive data

The US dollar had a positive day yesterday, thanks to encouraging data from country to buoy the currency. The core Durable Goods Orders figure came out better than expected, showing an unanticipated rise for April. This caused the US currency to make ground against most of its major partners, hitting the highest level in 10 days against sterling.

Today is a wholly quiet one for the dollar with regards to data, with nothing major due from the country to affect the markets. As such, investors will be looking at developments in other countries, as well as ahead to Thursday’s US growth figures and unemployment data, with speculation over these likely to factor into investors’ considerations.

Looking to buy or sell US dollars? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 28th, 2014 by Charles Purdy

Indian rupee continues decline

It was a relatively quiet day elsewhere yesterday, with few data releases of note. The main mover was the Indian rupee, which lost ground for the third day in a row – the longest decline all month. Although there were no definite reasons for the move, it is likely that a lot of importers did their month-end dollar buying and sold off rupees. The currency has been strengthening consistently throughout the month, with confidence building in light of the recent elections, and there is a chance that investors came to view it as overvalued.

The New Zealand dollar also lost some ground following the release of trade balance figures, which came in worse than forecast. Today is another fairly quiet day today in terms of data, with the only releases of note being the Swiss trade balance and employment figures.

Looking to buy or sell currencies? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 27th, 2014 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.2360
GBP/USD – 1.6867
EUR/GBP – 0.8089
EUR/USD – 1.3645
GBP/AED – 6.1929
GBP/AUD – 1.8204
GBP/CAD – 1.8288
GBP/CHF – 1.5094
GBP/CNY – 10.535
GBP/DKK – 9.2258
GBP/HKD – 13.075
GBP/HUF – 375.23
GBP/INR – 99.442
GBP/JPY – 171.58
GBP/NZD – 1.9706
GBP/RUB – 57.830
GBP/SEK – 11.166
GBP/THB – 54.953
GBP/TRY – 3.5371
GBP/ZAR – 17.557

Posted May 27th, 2014 by Charles Purdy

Sterling holds steady at the start of a quiet week for data

Following a positive week which saw it reach a new sixteen-month high against the euro, sterling struggled to hold ground on Friday. With no major economic data released from the UK, sterling found itself pegged back as new home sales in the US came in better-than expected.

Following a quiet day yesterday, the week ahead sees very little data out from the UK. Looking towards the end of the month, sterling will be hoping to hold near its recent record highs with an increased focus on potential interest rate hikes following a succession of positive data releases from the UK. With a slew of economic data, and the official bank rate, due out the following week, sterling will be hoping to hold its position.

Looking to buy or sell sterling? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 27th, 2014 by Charles Purdy

Euro awaits next week’s ECB meeting

German Business Climate data disappointed on Friday last week, underlining the declining faith in the Eurozone’s economic recovery. The worse-than-expected figures were the worst we have seen in 2014 and caused general euro weakness. Howevever, it is worth noting that, while the euro did fall against the US dollar, it managed to strengthen slightly against sterling as a result of sterling influences.

While we enjoy a bank holiday in the UK on Monday, European Central Bank (ECB) President Mario Draghi will be addressing the ECB Forum in Portugal. Given that most commentators are almost certain that Draghi will alter policy in his next meeting, traders are likely to react to the address if any further hints are given as to what action is to be taken. The Forum will run no into Tuesday, when Draghi will offer some closing remarks. Aside from this early address, the week is looking relatively quiet in terms of data from the Eurozone. German Retail Sales data on Friday may inspire some rate movements, but it is likely that once again media leaks, addresses from key figures and market chatter are likely to dictate how the single currency performs this week.

Looking to buy or sell euros? Contact your trader now for live rates, news and currency-purchasing strategies.

Posted May 27th, 2014 by Charles Purdy

US dollar boosted by rise in new home sales

The US dollar finished off last week with some positivity, reaching three-week and one-week highs against the euro and the yen respectively. Gains were helped by the country’s economic data release, which showed better-than-expected figures in the new home sales department.

Following on from yesterday’s bank holiday, this week’s data starts strongly today, with both the core durable goods orders and the consumer confidence due from the US to get things started. Tomorrow is a quieter affair, as investors anticipate Thursday’s growth figure from the preliminary GDP, alongside ever-important labour data, in the form of unemployment claims. These data sets will be backed up by pending home sales figures, before Friday rounds off the week in subdued fashion. Nothing major is due to close it out, with a number of smaller data sets including the Chicago Purchasing Managers’ Index and University of Michigan Consumer Sentiment the possible only causes for movement for the US economy.

Looking to buy or sell US dollars? Contact your trader now for live rates, news and currency-purchasing strategies.

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