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Posted August 27th, 2015 by Charles Purdy

Mixed bag for the euro

The euro had a mixed day against sterling, and struggled against the US dollar. The euro ended the day down by more than 1% on Wednesday after a senior European Central Bank policymaker warned that the risks of their short-term high inflation target has made it more likely that more quantitative easing may be actioned. Earlier this week the single currency received an additional boost as fears over the global economic outlook scaled back expectations for a US rate hike – and this benefited the euro.

Early this morning French consumer confidence data was released, and this was forecast to weaken from 102 to 101. Other than this, the focus will remain on the Chinese economy struggles.

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

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Posted August 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 27th, 2015 by Charles Purdy

The US dollar has a strong day

Continuing to feel the effects from ‘Black Monday’, the US dollar remained very unstable on Wednesday. Following recent weakness, the American currency found notable strength against the majority of its peers; in particular gaining over two cents against sterling, and over a cent against the euro. Core Durable Goods orders, the only notable data release of the day, showed positive growth just above expectations.

Today could see more aggressive price action for the US dollar today in the lead up to the Preliminary Gross Domestic Product (GDP) figure – which is expected to show its highest growth release for three quarters.

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 27th, 2015 by Charles Purdy

The Australian dollar enjoyed a relatively good day

The Australian dollar enjoyed a relatively good day yesterday, gaining against most currencies – except a strong US dollar.

Yesterday morning we saw excellent construction work data our of Australia, achieving 3% above expected. This coupled with positivity coming from the Governor of the Reserve Bank of Australia’s speech helped strengthen the currency. Private Capital expenditure data released this morning was came out much lower than expected showing a sharp drop to -4% whilst last month’s figure was also revived down to -4.7%.

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

Posted August 26th, 2015 by Charles Purdy

Sterling reverses some of its loses versus the euro

Sterling mounted a strong recovery against the euro on Tuesday, whilst a late rally from the US dollar saw sterling reverse many of the gains it had enjoyed throughout Monday.

Yesterday, fears around a global equity crisis diminished somewhat and sterling was able to capitalise on a besieged euro which found itself losing many of Monday’s gains across the board. With fundamental data releases seemingly ignored by investors, sterling moved close to the level it closed at against the euro on Friday. Despite pushing to a fresh one-and-a-half month high against the US dollar throughout the day, better than expected consumer confidence data from America saw the dollar strengthen considerably throughout the afternoon to recover much of the ground it had previously lost.

Another quiet day in terms of economic data from the UK lies ahead, with investor attention largely drawn to the US where we will see the release of durable goods orders. Following this, comments from Federal Reserve member Dudley will be eagerly awaited, and could provide clues pertaining to future monetary policy in the US. Moreover, shifts in the foreign currency market will largely be dictated by risk sentiment caused by developments in the global equity markets.

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 26th, 2015 by Charles Purdy

Euro falls back to as markets appear to level out

Tuesday was a slightly more disappointing day for the euro after it strengthened so much across the board on Monday. A natural sell-off of euros took place in the morning, as investors felt the single currency had been over bought during Monday’s drama.

Data figures released yesterday were positive, with the German IFO business survey data hitting 102.2 – compared to the 102 predicted. German Gross Domestic Product (GDP) figures were released as expected, before the sell-off began at 9am.

There is little data out of Europe today to affect the euro’s relative strength, however, with markets nervous about the situation in China, we could see significant swings through the course of the day.

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

Posted August 26th, 2015 by Charles Purdy

US dollar recovers some of its loses from ‘Black Monday’

The US dollar slowly started to recover yesterday following ‘Black Monday’, strengthening nearly a cent against sterling and over a cent against the euro. This followed China’s decisions to cut interest rates on Tuesday in an attempt to prop-up the Chinese economy and equity market. The US dollars strength was supported by the consumer confidence figures released yesterday, showing a much better than expected figure – the best since January this year.

Today we can expect more movement for the US dollar as uncertainty remains extremely high following the events of ‘Black Monday’. Data releases today include the Durable goods order, which is expected to show a drop against the previous month; US Federal Reserve member Dudley will also be speaking, expected to remain very supportive on an interest rate hike in short term.

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 26th, 2015 by Charles Purdy

Could South Africa be heading into recession?

Reports from South Africa showed that the country’s economy had contracted during the second quarter of the year, increasing the risk of a recession for a nation grappling with a plunging currency. Power constraints and a slump in commodities have reduced output, slowing the economy’s recovery. South Africa’s Rand fell to a record low of 14.07 against the USD, but this has had little effect on their recovery as it has only offset the drop in commodities. With lending set to slow due to rising interest rates it is hard to see an economic recovery any time soon.

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

Posted August 26th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3644  
GBP/USD   1.5698  
EUR/GBP   0.7326  
EUR/USD   1.1505  
EUR/AUD   1.6156  
GBP/AED   5.7652  
GBP/AUD   2.2038  
GBP/CAD   2.0887  
GBP/CHF   1.4788  
GBP/CNY   10.069  
GBP/DKK   10.182  
GBP/HKD   12.166  
GBP/HUF   430.09
 
GBP/INR   104.10  
GBP/JPY   187.37  
GBP/NZD   2.4151  
GBP/PLN   5.7926  
GBP/RUB   108.00  
GBP/SEK   13.140  
GBP/THB   55.687  
GBP/TRY   4.6144  
GBP/ZAR   20.619  
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