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Posted April 30th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3881   ▼ 
GBP/USD   1.5428
  ▲ 
EUR/GBP   0.7199   ▲ 
EUR/USD   1.1110   ▲ 
EUR/AUD   1.3940   ▲ 
GBP/AED   5.6648
  ▲ 
GBP/AUD   1.9351   ▲ 
GBP/CAD   1.8568   ▲ 
GBP/CHF   1.4505   ▼ 
GBP/CNY   9.5680    
GBP/DKK   10.359    
GBP/HKD   11.956   ▲ 
GBP/HUF   419.90    
GBP/INR   98.168   ▲ 
GBP/JPY   183.32   ▲ 
GBP/NZD   2.0291   ▲ 
GBP/PLN   5.5814   ▼ 
GBP/RUB   79.123   ▼ 
GBP/SEK   12.873   ▼ 
GBP/THB   50.745   ▲ 
GBP/TRY   4.1046   ▲ 
GBP/ZAR   18.214   ▲ 

 

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Posted April 30th, 2015 by Charles Purdy

Sterling stronger against the US dollar

A mixed day for sterling on Wednesday saw it lose a little bit of ground against the euro whilst pushing to a fresh two month highs against the US dollar thanks to disappointing US economic growth figures. Sterling’s strength against the US dollar was then further supported by the outcome of the Federal Reserve meeting where worries over the US economy being less robust than hoped for has clearly pushed back the date of an interest rate rise.

Another quiet day for sterling on the data front lies ahead. Investor attention will instead be trained on both the Eurozone for their latest inflation figure, and the US for the previous weeks unemployment claims.

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

Posted April 30th, 2015 by Charles Purdy

The euro continues to surprise

The euro had a positive day again, rising to two month highs against the struggling US dollar on Wednesday, thanks to the release of figures showing that the US economy has begun to slow down from recent impressive figures, making a rise in US interest rates less likely.

The strength was supported by better news for the European economy. German consumer price index had risen at a rate of 0.4% in April; this was broadly in line with market expectations, but most importantly this eased concerns over the threat of deflation for the European economy as a whole. Further data showed that the Eurozone lending to the private sector had moved higher in March for the first time in three years, and consumer inflation increased for the first time in 2015.

This morning we have German retail sales which are forecast to drop to 3.2%, when the previous figure was 3.6%.The big news today will be the most recent European unemployment and Consumer Price Index data being released at 10am 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 April 30th, 2015 by Charles Purdy

US Dollar continues to fall

The recent slowdown in the US economy was compounded on Wednesday with poor GDP figures, at the lowest level for a year. This affected the US dollar a great deal; it continued to weaken moving to two month lows against sterling and broke through the 1.11 level against the euro. Yesterday’s Federal Reserve meeting also highlighted their worries over the US economy when keeping US interest rates on hold and making it clear that until growth returns an interest rate rise in June is unlikely.

The US dollar will be looking for any positive news to help stop the free-fall we have seen over this past week. Data releases today include weekly unemployment claims, forecast to remain high, and personal spending which hopefully show a positive increase.

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 April 30th, 2015 by Charles Purdy

Mixed reports from New Zealand

The New Zealand dollar had a mid-week stumble on Wednesday, when it fell lower against the US dollar. Statistics New Zealand reported that the country’s trade surplus had widened to NZ$631 million in March, compared to the NZ$50 February figure. On top of this, a separate report showed that the ANZ business confidence index fell away this month.

News was not so rosy for the US dollar against its closer neighbour, with the Canadian currency reaching new three month highs. Markets were eyeing the upcoming Federal Reserve policy statement, as experts are eager to see the reaction following news that the US economy grew less than expected last quarter.

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

Posted April 29th, 2015 by Charles Purdy

Sterling overcomes poor data

A mixed day for sterling saw it steady against the euro, have a strong performance against the US dollar which saw the UK currency rise to the highest level since early March but lose ground against the Australian dollar. Sterling started the day trading positively, rising across the board ahead of the release of the first estimate of economic growth for the first quarter of this year. This figure surprised investors, posting only a 0.3% increase as the rate of growth decelerated sharply. Although coming in below the 0.5% expectation, this weakness is likely to be seen as an anomaly short term especially as it was the first estimate which is subject to revision. Sterling fell sharply in the wake of this news, although it swiftly recovered with economists still forecasting another strong year of UK economic growth.

Further disappointing data from the US, this time in the form of the latest consumer confidence figure looks set to compound a poor end to the month for the US dollar, and allowed sterling to push yet further above the 1.50 level.

A relatively quiet day lies ahead for sterling, with housing inflation data for the month of April released early this morning. With little other influential data set to be released from the UK, attention will turn to the US where we have both economic growth data over the previous quarter, and the latest interest rate decision from the Federal Reserve.

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

Posted April 29th, 2015 by Charles Purdy

Euro continues its “good” run

It was an improved performance from the euro yesterday, but largely due to events elsewhere as the Eurozone currency rose to three-week highs against the US dollar as US consumer confidence had dropped last month. The euro initially gained against sterling but this was also down to poor growth figures from the UK, released at 0.3%, but gave back these gains as the day progressed. The same old story remained as the euro continued to be held back on the lack of optimism that Greece will eventually reach an agreement with its creditors on a new bailout.

Today we have a few data releases across the day, starting with German retail sales release early in the morning, forecast to improve to 0.4% from last month’s -0.5%. We then have Consumer Price Index figures from Germany in the afternoon, forecast to increase slightly to 0.4% from 0.3%. Also out is business and consumer confidence data, likely to fall from -3.7 to -4.6.

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

Posted April 29th, 2015 by Charles Purdy

US Dollar under pressure

It was another tough day for the US dollar as it continued to weaken against the majority of its peers. Data releases for the US did not help, with the major release being consumer confidence, which fell to a low of three months. This helped push the US dollar to its highest level since March against sterling and above 1.09 against the Euro. This leads to speculation that a June interest rate hike may be too soon for the US economy.

We can expect another busy day for the US dollar, with major data releases. Advance gross domestic product (GDP)data, a growth indicator, is due to be released. It is expected to reflect the recent slowdown in the economy, where growth in the US could be less than half of that of the previous quarter.

The Federal Open Market Committee (FOMC) April meeting concludes today and the statement released following the meeting should highlight how the US Federal Reserve members are thinking with regard to a possible interest rate increase this year. Their view is likely to be swayed by recent economic data releases and the slowdown in the US economy.

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 April 29th, 2015 by Charles Purdy

Interesting comments from Australian central bank

  • Tuesday saw Governor of the Reserve Bank of Australia (RBA) Glenn Stephen’s make his monthly comments on the state of the economy, as well as looking ahead to next week’s board meeting. Although he offered little insight into the content of next week’s board meeting regarding monetary policy, he indicated that the RBA is now viewing the risks to the economy that stem from low interest rates. This boosted Australian dollar.
  • The Canadian dollar was able to capitalise on a poor day for the US dollar and touch its recent three-month highs. The Bank of Canada issued a statement, saying they expect a strong recovery in the second half of the year.

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

Posted April 29th, 2015 by Charles Purdy

Smart Currency Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3997   ▼ 
GBP/USD   1.5366
  ▲ 
EUR/GBP   0.7142   ▲ 
EUR/USD   1.0976   ▲ 
EUR/AUD   1.3724   ▼ 
GBP/AED   5.6437
  ▲ 
GBP/AUD   1.9210   ▼ 
GBP/CAD   1.8478   ▲ 
GBP/CHF   1.4686   ▲ 
GBP/CNY   9.5305    
GBP/DKK   10.447    
GBP/HKD   11.908   ▲ 
GBP/HUF   421.16    
GBP/INR   97.067   ▲ 
GBP/JPY   182.71   ▲ 
GBP/NZD   1.9930    
GBP/PLN   5.6025    
GBP/RUB   79.364   ▲ 
GBP/SEK   13.078   ▼ 
GBP/THB   50.200   ▲ 
GBP/TRY   4.0900   ▼ 
GBP/ZAR   18.209   ▼ 
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