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Posted September 30th, 2014 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.2822
GBP/USD – 1.6264
EUR/GBP – 0.7798
EUR/USD – 1.2684
GBP/AED – 5.9708
GBP/AUD – 1.8591
GBP/CAD – 1.8131
GBP/CHF – 1.5470
GBP/CNY – 9.9897
GBP/DKK – 9.5438
GBP/HKD – 12.626
GBP/HUF – 398.44
GBP/INR – 100.14
GBP/JPY – 177.96
GBP/NZD – 2.0879
GBP/RUB – 64.035
GBP/SEK – 11.768
GBP/THB – 52.614
GBP/TRY – 3.6936
GBP/ZAR – 18.273

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Posted September 30th, 2014 by Charles Purdy

Sterling steady at the start of the week

A steady day for sterling saw it trade largely sideways against both the euro and US dollar. Little influential economic data was released on Monday, with a slight drop in mortgage approvals in the UK, which was largely ignored by the markets. Sterling did, however, briefly drop to a two-week low against the US dollar, before regaining lost ground to end the day up against the US dollar. A reduction in pending home sales in the US allowed sterling to recover somewhat throughout the afternoon. Sterling remained steady against the euro, with a slight increase in German inflation failing to provide the euro with the boost it needs.

Today we see the release of final UK economic growth data for the second quarter of 2014. Coupled with the latest current account balance, this could provide sterling with an early morning movement.

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

Posted September 30th, 2014 by Charles Purdy

Eurozone inflation data the key release for today

Monthly inflation data out of Germany, Europe’s most influential economy, gave some respite to the euro yesterday. The figures came in at a flat 0%, marginally better than the -0.1% that most forecasters were predicting. European Central Bank (ECB) President Mario Draghi had stressed the importance of avoiding negative inflation rates for the Eurozone, so the figures provided a glimmer of hope. This morning’s year-on-year figures for the whole bloc will also be watched closely in the market.

We may see the euro relatively range-bound over the next few days ahead of Thursday’s ECB press conference, as traders will be looking for clues as to Draghi’s medium-term strategy. He has made no secret over the last few conferences that he welcomes a weaker currency for the bloc, seeing it as a way of turning around its ailing economies by reducing the relative cost of exports. However, given that the euro has fallen by nearly 10% against its two most-traded peers, the US dollar and the British pound, Draghi will be forced at some point to accept that enough is enough in order to avoid a euro in free-fall. Other data to keep an eye on are German retail sales, as well as monthly unemployment figures for the whole bloc.

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

Posted September 30th, 2014 by Charles Purdy

US Dollar has a quiet start to the week

The US dollar had a muted start to the week, with little economic activity to affect the currency’s strength. The dollar lost a little ground against both sterling and the euro, as data from stateside was thin on the ground. Some personal spending figures had little impact, while the pending home sales was slightly behind estimates to leave the dollar struggling to continue its recent run of gains.

Today sees activity increase, with the Chicago Purchasing Managers’ Index (PMI) starting off, ahead of the consumer confidence figure later in the afternoon. Given the recent talk of interest rate rises, and the rhetoric that this decision will be data-led, investors will be keen to hear about positive figures in these areas in order for the currency to gain a foothold on the week and continue on its strengthening trend.

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 September 30th, 2014 by Charles Purdy

US Dollar has a quiet start to the week

The US dollar had a muted start to the week, with little economic activity to affect the currency’s strength. The dollar lost a little ground against both sterling and the euro, as data from stateside was thin on the ground. Some personal spending figures had little impact, while the pending home sales was slightly behind estimates to leave the dollar struggling to continue its recent run of gains.

Today sees activity increase, with the Chicago Purchasing Managers’ Index (PMI) starting off, ahead of the consumer confidence figure later in the afternoon. Given the recent talk of interest rate rises, and the rhetoric that this decision will be data-led, investors will be keen to hear about positive figures in these areas in order for the currency to gain a foothold on the week and continue on its strengthening trend.

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 September 30th, 2014 by Charles Purdy

Australian and New Zealand dollars have a bad start to the week

  • The Australian dollar had a poor start to the week, hitting eight-month lows against its US counterpart on Monday. Data showing that the US economy grew at its quickest pace for two-and-a-half years was the overriding reason for the greenback holding firm. The Aussie dollar dropped 0.59% to 0.8684, its lowest point against its US counterpart since January.
  • Monday also saw the New Zealand dollar have a disastrous start to the week as it slumped to one-year lows. Like its Australian counterpart it struggled to hold firm against the US dollar following the release of a better-than-expected report on US economic growth.

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

Posted September 29th, 2014 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.2807
GBP/USD – 1.6240
EUR/GBP – 0.7798
EUR/USD – 1.2677
GBP/AED – 5.9578
GBP/AUD – 1.8605
GBP/CAD – 1.8106
GBP/CHF – 1.5459
GBP/CNY – 9.9749
GBP/DKK – 9.5349
GBP/HKD – 12.603
GBP/HUF – 400.18
GBP/INR – 99.762
GBP/JPY – 177.91
GBP/NZD – 2.0899
GBP/RUB – 64.263
GBP/SEK – 11.790
GBP/THB – 52.230
GBP/TRY – 3.6946
GBP/ZAR – 18.306

Posted September 29th, 2014 by Charles Purdy

Will data this week support sterling’s rise against the euro?

Sterling continues to play second fiddle to the US dollar as the US economy continues to grow “strongly” and expectations of an increase in US interest rates rises. Against the euro, sterling continues to trade within narrow boundaries but very close to its multi-year high against the single currency.

After an uncharacteristically quiet week for sterling on the data front, things look to pick up in the week ahead with Purchasing Managers’ Indices (PMI) out of the UK. These will provide the first fundamental economic data out of the UK following the Scottish independence referendum. As ever, investors will be looking towards the key services sector data on Friday as the key release of the week, and a better-than-expected figure could inspire significant sterling strength. Preceding this will be data from both the manufacturing and construction industries which will still be watched with interest. Before this PMI data, we will see release of final UK growth figures on Tuesday, which is forecast to remain in line with previous estimations and show healthy growth in the economy.

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

Posted September 29th, 2014 by Charles Purdy

Euro and Eurozone under pressure, will the ECB help?

The euro had a relatively quiet day Friday, fresh from hitting peaks against sterling on Thursday not seen since July 2012. In the morning we saw slightly weaker-than-expected German consumer spending figures, but these did not result in much movement against sterling. However, the euro struggled against the US dollar, hitting fresh twenty two month lows. Highlights from the European Central Bank (ECB) press conference on Thursday were weaker-than-expected economic conditions and the possibility of quantitative easing, which were the driving factors in the euro slump.

This Thursday we will find out if the ECB is serious about boosting the Eurozone economy through the use of quantitative easing as the spotlight will be on the ECB’s interest rate decision and the following conference. We expect President Mario Draghi to expand on the comments made during his conference last Thursday – interest rates are expected to remain unchanged. We also look forward to Inflation, unemployment and industry figures during the course of the week.

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

Posted September 29th, 2014 by Charles Purdy

Lots of US data, expect lots of US Dollar movement

The US dollar saw a confident end to the week, strengthening further against the majority of its major partners. The final quarterly growth figures were released, showing that growth stateside has increased faster than a previous estimate. As a result, there was further speculation over interest rate increases in the US, as positive data continues to add pressure for the US Federal Reserve to raise rates. Recent words from central bank members have been cautious, but guidance provided states that the decision will be data driven.

Moving on to this week, there are some minor spending figures are due today, alongside pending home sales. Tomorrow sees some more influential pieces, with the Purchasing Managers’ Index (PMI) preceding consumer confidence data. Wednesday begins the usual start-of-month labour market figures, with the independent non-farm employment change data coming ahead of the official figure later in the week. The day also holds the PMI from the manufacturing sector. Thursday calms down with just some factory orders, but Friday is the busiest of the week. The official non-farm payroll figure is due on this day, which regularly provides high activity in the markets. This will be supported by the unemployment rate, as well as the trade balance. Closing out the week will be the non-manufacturing PMI, and investors will have plenty to mull over after a busy week on the data front.

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

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