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Posted August 29th, 2014 by Charles Purdy

Smart Daily Exchange Rates

(Last Week)                                                         This Week
(GBP/EUR – 1.2483)                                             GBP/EUR – 1.2602
(GBP/USD – 1.6588)                                             GBP/USD – 1.6601
(EUR/GBP – 0.8008)                                             EUR/GBP – 0.7932
(EUR/USD – 1.3286)                                             EUR/USD – 1.3169
(GBP/AED – 6.0909)                                             GBP/AED – 6.0959
(GBP/AUD – 1.7793)                                             GBP/AUD – 1.7735
(GBP/CAD – 1.8158)                                             GBP/CAD – 1.8012
(GBP/CHF – 1.5109)                                             GBP/CHF – 1.5196
(GBP/HKD – 12.855)                                             GBP/HKD – 12.865
(GBP/INR – 100.32)                                              GBP/INR – 100.49
(GBP/JPY – 172.12)                                             GBP/JPY – 172.35
(GBP/NZD – 1.9711)                                             GBP/NZD – 1.9780
(GBP/SEK – 11.433)                                             GBP/SEK – 11.572
(GBP/TRY – 3.6049)                                             GBP/TRY – 3.5822
(GBP/ZAR – 17.742)                                             GBP/ZAR – 17.618

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Posted August 29th, 2014 by Charles Purdy

Sterling benefits from Eurozone worries

There has been a great lack of data out of the UK this week so the greatest influence has been news from elsewhere. Against the euro we have seen sterling benefit from poor Eurozone data and increased unrest in Ukraine. Against the US dollar, which has been in the ascendancy, sterling managed to hold steady although it is still close to five month lows.
Today we see the release of keenly awaited consumer inflation data from the Eurozone. With the threat of deflation still looming over the economic bloc, a better-than-expected inflation reading could result in significant losses for sterling, and vice versa.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 29th, 2014 by Charles Purdy

Euro under pressure

A tough week for the euro has seen it continue to slide against the US dollar while losing some ground against sterling. A quiet day on Monday saw the euro trade relatively flat across the board. Tuesday saw the euro hit a fresh low against the US dollar as consumer confidence in the US was shown to have increased throughout July. In contrast to this, data from Germany on Wednesday showed that consumer confidence had fallen in the Eurozone’s largest economy. Despite this, the euro strengthened on the back of comments suggesting that the European Central Bank (ECB) may not have to resort to drastic measures any time soon to counter the threat of deflation. This optimism in the currency was short-lived however, with news on Thursday of increased unemployment in Germany, seeing the euro drop across the board.
Today sees the release of inflation data from across the Eurozone. With measures recently put in place to counter the threat of deflation, investors will be keeping a keen eye out for any increase in this figure. Any surprises could cause movements in euro markets.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 29th, 2014 by Charles Purdy

US Dollar supported by positive growth data

The US dollar had a varied week, trading within a fairly narrow range. Mixed durable goods orders figures towards the start of the week saw the dollar harbour some uncertainty, while encouragement was found through the consumer confidence figure. A disappointing showing came mid-week as a lack of economic data saw the dollar’s strength waiver, weakening from an 11-month high against a strengthening euro. However, this trend was reversed yesterday as growth figures were positive. They came out better than anticipated, and this broad measure of economic health bolstered the dollar’s performance. This was supported by unemployment claims that were on par with expectations, as investors continue to look for evidence supporting increased interest rates. The pending home sales also easily passed its predicted level, furthering the dollar’s advances against most of its partners.

Today closes out the week in relatively quiet fashion, although a number of smaller pieces of data could combine to impact markets. Personal spending figures are due, as well as the Chicago Purchasing Managers’ Index, as well as Consumer Sentiment data from the University of Michigan.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 29th, 2014 by Charles Purdy

Rouble under pressure

  • Following a week of growing threats on tougher sanctions on Russia, the rouble fell to its lowest level in six months. The tension grew further as Ukraine said intensified separatist fighting was a ‘de facto’ incursion.
  • Thursday saw the Australian dollar jump more than expected after a fairly quiet week as capital spending by private companies grew by 1.1%, faster than the anticipated 0.3%.

If you are looking to buy or sell currencies, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 28th, 2014 by Charles Purdy

Smart Daily Exchange Rates

GBP/EUR – 1.2563
GBP/USD – 1.6596
EUR/GBP – 0.7957
EUR/USD – 1.3208
GBP/AED – 6.0939
GBP/AUD – 1.7729
GBP/CAD – 1.8016
GBP/CHF – 1.5152
GBP/CNY – 10.194
GBP/DKK – 9.3634
GBP/HKD – 12.861
GBP/HUF – 393.59
GBP/INR – 100.39
GBP/JPY – 172.13
GBP/NZD – 1.9764
GBP/RUB – 60.475
GBP/SEK – 11.544
GBP/THB – 52.949
GBP/TRY – 3.5856
GBP/ZAR – 17.660

Posted August 28th, 2014 by Charles Purdy

Lack of data stalls sterling

During a day which saw no major economic releases, sterling was able to gain steady ground against both the US dollar and euro. The day’s most influential data came from Germany, where a consumer climate survey showed that financial confidence had fallen for the first time since late 2013. This allowed sterling to rise steadily against the euro, before being pegged back later in the day after the German finance minister stated that the likelihood of any drastic measures by the European Central Bank (ECB) next week was low.

Sterling’s rally against the US dollar looked more straightforward, as investors moved to lock in profits from the dollar’s recent strong run ahead of today’s data releases. Today will provide more of an indication as to whether sterling is able to break out of its slump, with inflation data from the Eurozone and economic growth and labour data from the States having the potential to affect the markets significantly.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 28th, 2014 by Charles Purdy

Euro awaits tomorrows inflation data

The euro gained some strength for the first time in four days, moving it away from four-year lows against the US dollar. A Reuters report released yesterday referenced anonymous European Central Bank (ECB) sources, stating that no stimulus measures will be implemented unless we see a serious risk of deflation. As mentioned in yesterday’s note, the ECB has cited inflation as the primary gauge for forthcoming monetary policy decisions. As such, eyes will still be firmly on tomorrow’s yearly flash estimate, forecasted to come in at 0.3%. Today’s German preliminary monthly inflation figures will also hold some sway, as will European business and consumer confidence data released this morning.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 28th, 2014 by Charles Purdy

US Dollar weakens ever so slightly

The US dollar had a disappointing day yesterday, seeing a decline against the majority of its partners in the absence of economic data. On a day with little data from anywhere in the world that was of major significance, the dollar weakened from its recent 11-month best against the euro as the multination currency gained back some strength of its own.

Today sees economic data activity start up again, with a number of key releases due from the US. Two significant pieces are scheduled for early afternoon – growth and labour figures. The growth figure will be the most anticipated, given its broad measure of economic health. Alongside this, the ever-important unemployment claims will be of interest to investors. Given the recent talk of interest rate rises and speculation over timescales, both of these data sets could provide encouragement for an interest rate hike if the figures prove positive.

Later in the afternoon the pending home sales could provide further opportunity to affect the strength of the dollar, on a busy day for the currency.

If you are looking to buy or sell US dollars, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

Posted August 28th, 2014 by Charles Purdy

Turkish lira strengthens

  • The Turkish lira surpassed two-week highs as the central bank held its benchmark one-week repurchase rate the same at 8,25%. This saw it strengthen 0.5% against the dollar to 2.155 per dollar at the close of trading. Policy makers at the central bank, led by Governor Erdem Basci cited geopolitical factors as instrumental in the inflation outlook.
  • Indian rupee strengthened for a fifth successive day as there were indications that tensions in Ukraine and the Middle East were easing. This has had a positive impact across emerging markets and increased confidence in emerging market assets. Sajal Gupta, head of foreign exchange at Mumbai-based Edelweiss Securities Ltd, suggested rupee stability was also due to the news that India may be getting re-rated, after government efforts to cut India’s budget deficit have had positive impacts on its credit ranking.

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

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