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 October 29th, 2014 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.2666
GBP/USD – 1.6120
EUR/GBP – 0.7889
EUR/USD – 1.2724
GBP/AED – 5.9207
GBP/AUD – 1.8162
GBP/CAD – 1.7996
GBP/CHF – 1.5272
GBP/CNY – 9.8504
GBP/DKK – 9.4297
GBP/HKD – 12.501
GBP/HUF – 390.83
GBP/INR – 98.852
GBP/JPY – 174.10
GBP/NZD – 2.0307
GBP/RUB – 68.937
GBP/SEK – 11.843
GBP/THB – 52.328
GBP/TRY – 3.5443
GBP/ZAR – 17.499

Comments are closed.

Posted October 29th, 2014 by Charles Purdy

Sterling down against the euro, up against the dollar

Sterling performed well against the US dollar yesterday following a fall in US durable goods orders. Against the euro it struggled as there was no major UK data release and sterling started to trend downwards after failing to break through overnight resistance levels. An unexpected rise in German import prices saw sterling continue to fall away against the euro although it still remains well placed against the single currency. Conversely, sterling hit a week-long high against the US dollar as durable goods orders disappointed. The largest move of the day for sterling came against the Swedish krona, where the unexpected decision by the Swedish Central Bank to slash interest rates to 0% saw sterling gain over 1% against the krona throughout the course of the day.

A quiet day lies ahead, with mortgage approvals from the UK likely to cause a muted impact. The main focus will be on the statement released from the Federal Open Market Committee (FOMC) later in the evening. We can expect increased volatility in the wake of this as investors digest the content of the statement.

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

Posted October 29th, 2014 by Charles Purdy

Euro mainly affected by events from elsewhere

With a quiet day on the data releases front yesterday, the euro was mainly affected by events elsewhere. The single currency held relatively flat against the majority of its peers, but poor US data saw it gain almost half a percent against the dollar.

Eyes will be on the US again today, with the decision from the US Federal Reserve over tapering of Quantitative Easing (QE); any announcement that QE will continue should see a US dollar selloff, meaning a likely euro gain in response. Traders will also be looking towards tomorrow and Friday, with inflation and unemployment data from across the bloc being released. Uncertainty towards the outcome of the figures is high – recent releases have been very inconsistent, and as a result we could see some significant volatility in the 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 October 29th, 2014 by Charles Purdy

All eyes look to the Fed today

The US Dollar weakened across the board today as a Federal Reserve interest rate hike seemed to move further away after durable goods data disappointed, having now fallen for two months in a row. The U.S. Commerce Department reported that durable goods orders had fallen 1.3% between September and August – well away from the expected 0.5% increase and following the massive 18.3% reduction in August. The key data of business spending also fell 1.7%, the lowest level we have seen for eight months and in direct contracts from the 0.6% increase expected.

This poor data has increased the markets interest in today’s Federal Reserve meeting announcement and whether or not they stop their programme of quantitative easing. Expectations are they will stop it so if they don’t the US dollar will be under extreme pressure. Talk of interest rate increases is still some way off.

I think it is best to expect some rapid movements in the US dollar today and therefore 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 October 29th, 2014 by Charles Purdy

Sweden cuts benchmark interest rate

Tuesday saw the Swedish central bankers make the decision to cut the benchmark interest rate to zero. This was the most recent evidence that moving to remove emergency stimulus too quickly can be a risky business. Sweden is not the first country to reverse tack; the European Central Bank heightened rates in 2008 and this was quickly evaporated on two occasions in 2011 to combat deflation. These Swedish actions have left the euro area facing its third recession in six years.

The Canadian dollar strengthened against its US counterpart on Tuesday, largely due to the release of the lower than expected U.S durable goods data.

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

Posted October 28th, 2014 by Charles Purdy

Smart Currency Daily Exchange Rates

GBP/EUR – 1.2676
GBP/USD – 1.6105
EUR/GBP – 0.7886
EUR/USD – 1.2702
GBP/AED – 5.9130
GBP/AUD – 1.8242
GBP/CAD – 1.8087
GBP/CHF – 1.5291
GBP/CNY – 9.8450
GBP/DKK – 9.4372
GBP/HKD – 12.493
GBP/HUF – 392.05
GBP/INR – 98.756
GBP/JPY – 173.84
GBP/NZD – 2.0398
GBP/RUB – 68.527
GBP/SEK – 11.828
GBP/THB – 52.263
GBP/TRY – 3.5885
GBP/ZAR – 17.636

Posted October 28th, 2014 by Charles Purdy

Positive and steady start to the week for sterling

Sterling had a steady start to the week with the Confederation of British Industry distributed trades data holding steady at 31% against an expected fall to 25%. With the German IFO business climate survey coming in below expectations, sterling rose throughout early morning trading to a two week high against the euro. A more modest morning was seen against the US dollar but in the afternoon sterling did make some gains with the news that pending home sales across America had only grown 0.3% in September, a level some way below the expected 1.1% increase. Conversely, this also saw sterling lose ground against the euro as investors were drawn by a strong performance from the euro against the US dollar.

We expect a quiet day lies ahead for sterling, with attention focused on the US for the release of the Conference Board consumer sentiment data this afternoon. After the UK’s strong reading yesterday, US dollar speculators will be hoping for an equally positive result state-side.

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

Posted October 28th, 2014 by Charles Purdy

Despite poor German data the euro holds its own

After opening the morning session on fairly firm footing thanks to the positive news regarding the European banks’ stress tests over the weekend, the euro dropped back into all-too-familiar territory following the release of some German data. IFO Business Climate figures, the results of a survey of 7,000 businesses’ opinions toward the current economic environment, came in below forecast and at their lowest level since 2012 – putting the euro on the back foot as it embarked on this week’s trading.

Today is light in terms of Eurozone data, with the monthly German import prices the only release of note. Traders will have one eye on Thursday and Friday, with a raft of growth, inflation and employment figures coming from across the 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 October 28th, 2014 by Charles Purdy

US Dollar has a “slow start” to the week

We predict a big week for the US economy, with the dollar on a weaker footing in comparison to previous weeks – moving above 1.61 levels again –and there is still plenty of risk lying ahead, as the world economy continues to struggle. For the rest of the week, the US dollar will be affected by the Federal Reserve statement on Wednesday, where they are expected to announce the end of quantitative easing and a return to the more orthodox approach of an interest rate driven policy. But an interest rate hike does however seem months away, and this will still remain a crucial stepping stone for the American currency.

For the week ahead, today durable goods and consumer confidence data is due and on Thursday there are the growth figures for the third quarter released

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 October 28th, 2014 by Charles Purdy

Russian Rouble drops to two year lows

Russian presence in Ukraine has seen the Russian currency weaken heavily over the last few months, and this was compounded down to new two year lows on Monday. This was largely due to the dramatic fall in oil prices, and the widely held view that the country is due to further strengthen its stance in Ukraine.

On the other side of the world, the New Zealand dollar had a brighter start to the week, making early gains against its US counterpart. This was largely off the back of reaction from the stress test’s on Europe’s largest banks. Investor confidence has improved since the European Central Bank announced the results of these year-long tests, which assessed the finances on 150 banks. Overall 25 were found to have capital shortfall, but most have already taken steps to resolve this.

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

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