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Posted August 28th, 2015 by Charles Purdy

Will today’s data release enable sterling to regain its footing in the market?

Widespread turmoil in the financial markets this week has seen mixed fortunes for sterling. With the so called “Great Fall of China” on Monday preceding a day of losses throughout European and US stocks, sterling fell to a two-month low against the euro on the back of short-term profit taking by investors. On the flip side, the British currency also rose to a one-month high against the US dollar, although it was unable to maintain these levels as the week progressed

With no economic data released from the UK throughout the week, sterling found itself under pressure against a resurgent US dollar as equities staged a recovery worldwide. Following Monday’s sharp fall against the euro, the British currency was able to pushed back marginally throughout the week, and the single currency was unable to hold onto its more advantageous position.

Today sees the first major data release from the UK of the week. Following a positive economic growth estimate earlier in the year, the second estimate of gross domestic product (GDP) is forecast to remain stable at 0.7% growth.

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

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Posted August 28th, 2015 by Charles Purdy

Currency is a rollercoaster for the euro

The euro had a very mixed week against the US dollar and sterling, starting the week flying high but being pegged back on Thursday as the stock markets and general market sentiment improved. The release of positive US data hit the euro hard as it struggled across the board, and fell over 1.5% after the European Central Bank warned that there is still a real danger of missing their inflation target – meaning the current economic stimulus programme may need to be continued.

Today, business and consumer confidence from the Eurozone is released at 10am, and this is forecast to weaken to 103.8 from 104. In the afternoon, the German Consumer Price Index will be released and this is expected to fall to a negative -0.1% from last month’s figure of 0.2%.

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, 2015 by Charles Purdy

US dollar recovers thanks to positive GDP figures

The US dollar suffered heavy losses on ‘Black Monday’, as the effects of the struggling Chinese economy spread to the global economy as fears grew over their weak imports and exports.

As China reacted by cutting their interest rates, this strengthened the US dollar and it gained across the board as investors flocked back to the safe haven currency.

The global events meant that data releases from America had a reduced impact on the US dollar at the beginning of the week. However, Tuesday and Wednesday saw Consumer confidence and durable goods orders released respectively, both showing positive signs and growth. Yesterday saw positive Preliminary Gross Domestic Product (GDP) figures released from the US, showing better than expected growth helping support the US dollar.

However, even with this resurgent strength, the few US Federal Reserve members who spoke this week agreed that the much-discussed possible interest rate rise in September seemed less likely with most market commentators now suggesting a rate hike early next year is more likely.

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, 2015 by Charles Purdy

Commodity backed currencies hit hard by Chinese slowdown.

It’s been a bad week for the commodity based currencies as fears of a slowdown of the Chinese economy too hold of the global financial markets. The currencies of South Africa, New Zealand, Australia and many more have really felt the crunch, and have weakened more than 2% against the US dollar. As a result, many Australian currency strategists have slashed their end of year forecasts. Data releases this week have had little effect on these currencies; the New Zealand dollar had some good data this week, especially in their trade balance – but their fall of 3.5% against the US dollar suggests otherwise.

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

Posted August 28th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3670  
GBP/USD   1.5423  
EUR/GBP   0.7309  
EUR/USD   1.1276  
EUR/AUD   1.5720  
GBP/AED   5.6617  
GBP/AUD   2.1499  
GBP/CAD   2.0359  
GBP/CHF   1.4841  
GBP/CNY   9.8592  
GBP/DKK   10.205  
GBP/HKD   11.952  
GBP/HUF   430.14
 
GBP/INR   101.94  
GBP/JPY   186.63  
GBP/NZD   2.3836  
GBP/PLN   5.8025  
GBP/RUB   101.99  
GBP/SEK   13.031  
GBP/THB   55.206  
GBP/TRY   4.4946  
GBP/ZAR   20.297  

 

Posted August 28th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3670  
GBP/USD   1.5423  
EUR/GBP   0.7309  
EUR/USD   1.1276  
EUR/AUD   1.5720  
GBP/AED   5.6617  
GBP/AUD   2.1499  
GBP/CAD   2.0359  
GBP/CHF   1.4841  
GBP/CNY   9.8592  
GBP/DKK   10.205  
GBP/HKD   11.952  
GBP/HUF   430.14
 
GBP/INR   101.94  
GBP/JPY   186.63  
GBP/NZD   2.3836  
GBP/PLN   5.8025  
GBP/RUB   101.99  
GBP/SEK   13.031  
GBP/THB   55.206  
GBP/TRY   4.4946  
GBP/ZAR   20.297  

 

Posted August 27th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3696  
GBP/USD   1.5483  
EUR/GBP   0.7298  
EUR/USD   1.1299  
EUR/AUD   1.5823  
GBP/AED   5.6841  
GBP/AUD   2.1671  
GBP/CAD   2.0466  
GBP/CHF   1.4767  
GBP/CNY   9.9192  
GBP/DKK   10.220  
GBP/HKD   11.999  
GBP/HUF   430.27
 
GBP/INR   102.13  
GBP/JPY   186.28  
GBP/NZD   2.3892  
GBP/PLN   5.7833  
GBP/RUB   104.29  
GBP/SEK   13.097  
GBP/THB   55.112  
GBP/TRY   4.4955  
GBP/ZAR   20.162  
Posted August 27th, 2015 by Charles Purdy

Sterling’s brief respite against the markets ends

Another tough day for sterling on Wednesday saw it fall to a two-and-a-half week low against a strong US dollar, whilst slipping close to Monday’s lows against the euro. With markets drawing breath on Tuesday, sterling was able to make marginal gains against the euro and US dollar but these were then erased throughout Wednesday thanks to a resumption in European and British stock declines saw sterling struggle across the board. Comments by Federal Reserve member Dudley which suggested a September interest rate-hike in the US was unlikely, but this was largely ignored by the markets as sterling continued to weaken.

Today sees the release of preliminary economic growth figures from the US for the previous quarter. This could have a significant effect on the markets, with growth expected to pick up to 0.7% compared to the previous year.

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 27th, 2015 by Charles Purdy

Sterling’s brief respite against the markets ends

Another tough day for sterling on Wednesday saw it fall to a two-and-a-half week low against a strong US dollar, whilst slipping close to Monday’s lows against the euro. With markets drawing breath on Tuesday, sterling was able to make marginal gains against the euro and US dollar but these were then erased throughout Wednesday thanks to a resumption in European and British stock declines saw sterling struggle across the board. Comments by Federal Reserve member Dudley which suggested a September interest rate-hike in the US was unlikely, but this was largely ignored by the markets as sterling continued to weaken.

Today sees the release of preliminary economic growth figures from the US for the previous quarter. This could have a significant effect on the markets, with growth expected to pick up to 0.7% compared to the previous year.

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 27th, 2015 by Charles Purdy

Sterling’s brief respite against the markets ends

Another tough day for sterling on Wednesday saw it fall to a two-and-a-half week low against a strong US dollar, whilst slipping close to Monday’s lows against the euro. With markets drawing breath on Tuesday, sterling was able to make marginal gains against the euro and US dollar but these were then erased throughout Wednesday thanks to a resumption in European and British stock declines saw sterling struggle across the board. Comments by Federal Reserve member Dudley which suggested a September interest rate-hike in the US was unlikely, but this was largely ignored by the markets as sterling continued to weaken.

Today sees the release of preliminary economic growth figures from the US for the previous quarter. This could have a significant effect on the markets, with growth expected to pick up to 0.7% compared to the previous year.

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

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