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Posted August 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3671  
GBP/USD   1.5768  
EUR/GBP   0.7313  
EUR/USD   1.1531  
EUR/AUD   1.5997  
GBP/AED   5.7899  
GBP/AUD   2.1874  
GBP/CAD   2.0865  
GBP/CHF   1.4804  
GBP/CNY   10.111  
GBP/DKK   10.203  
GBP/HKD   12.221  
GBP/HUF   427.09
 
GBP/INR   104.63  
GBP/JPY   188.87  
GBP/NZD   2.4185  
GBP/PLN   5.7741  
GBP/RUB   110.17  
GBP/SEK   13.041  
GBP/THB   56.089  
GBP/TRY   4.6153  
GBP/ZAR   20.699  

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Posted August 25th, 2015 by Charles Purdy

Mixed bag for sterling on a tumultuous day for the markets

Sterling pushed higher against the US dollar and commodity-based currencies on Monday, while tumbling against the euro. The British currency began the day in a vulnerable position as it tumbled against the euro. With the global economy providing a climate more favourable to a policy of low interest rates by central banks, sterling found itself falling close to a four-month low against the single currency. However, this same sentiment pushed sterling to a two month high against the US dollar, with bets on a September interest rate hike being pushed back.

Data released today will focus on German business climate data and consumer confidence data from the US. Despite this relative lack of fundamental data, there is sure to be further movement caused by the global equities selloff.

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 25th, 2015 by Charles Purdy

Euro is the big winner on ‘Black Monday’

The euro had another strong day on Monday, as it reached over six month highs against the US dollar and a four month high against sterling. The single currency benefited as events came to a head over the fears of a China-led slowdown in the global economy. This slow-down pushed back expectations as to when interest rates will be hiked in the UK and the US, and the euro was the main benefactor.

Very early this morning we had Gross Domestic Product (GDP) figures from Germany; which showed a slight increase to 0.4% from last quarter’s 0.3%. At 9am IFO German business sentiment is likely to fall slightly from 102 from 102.4.

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 25th, 2015 by Charles Purdy

The US dollar also affected by ‘Black Monday’

The US dollar was one of the major currencies affected by the fear factor surrounding the struggling Chinese economy on Monday. The huge trading and investment links between the US and China encouraged investors to leave the US dollar and flock to safer currencies such as the euro and Japanese Yen. This led to the US dollar continuing to weaken against the majority of its peers – and eyes will be on the US Federal Reserve to see if this changes their sentiment as to when they should look to raise interest rates.

We could possibly see yesterday’s weakness reversed today with some key data released to influence the markets. Fist up, we have the Flash Services Purchase Managers Index (PMI), which is expected to show continued growth and then shortly after we have consumer confidence figures which are also expected to be positive.

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 25th, 2015 by Charles Purdy

Commodity currencies hit hard by market events

More than $5 trillion has been erased from the value of stocks worldwide since the devaluation of the Chinese yuan on August 11th, and this has resulted in a global sell-off of risky assets as commodity prices sank to a 16-year low. The Yuan fell by a further one per cent yesterday, but, the Australian dollar and New Zealand dollar were worse affected – falling by 1.8% and 2.8% respectively. This devaluation of the Yuan couldn’t have come at a worse time for Australia; only a month ago they were discussing an interest rate hike, but this now seems unlikely.

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

Posted August 24th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3643  
GBP/USD   1.5670  
EUR/GBP   0.7324  
EUR/USD   1.1483  
EUR/AUD   1.5792  
GBP/AED   5.7546  
GBP/AUD   2.1550  
GBP/CAD   2.0719  
GBP/CHF   1.4807  
GBP/CNY   10.021  
GBP/DKK   10.184  
GBP/HKD   12.148  
GBP/HUF   430.53
 
GBP/INR   104.31  
GBP/JPY   188.77  
GBP/NZD   2.3673  
GBP/PLN   5.7888  
GBP/RUB   110.78  
GBP/SEK   12.965  
GBP/THB   55.977  
GBP/TRY   4.6211  
GBP/ZAR   20.685  
Posted August 24th, 2015 by Charles Purdy

Can sterling recapture the losses it sustained last week?

Sterling ended last week at its weakest point against the euro for two months, as investors reacted favourably to the news of Greek Prime Minister Tsipras’s resignation and the call for snap elections – although the British currency was able to push higher against the US dollar, as economists pushed back their bets on when the Federal Reserve would raise interest rates.
Sterling has continued to weaken this morning as the market pushed back its expectations for an interest rate hike from the Bank of England (BoE).

On the data front, it is due to be a quiet week for sterling, with little informative fundamental data released from the UK until Friday; here we will see the second estimate of UK economic growth. This revised figure is always keenly awaited, with any changes caused by a greater understanding of the economic environment likely to cause market movement. Aside from this, the annual Jackson Hole Symposium begins on Wednesday, with a host of speeches from central bankers and other influential officials. With representatives from across the globe present, there is a great likelihood that we could see a reaction across the entire foreign currency market.
If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

contact your trader now for live rates, news and currency-purchasing strategies.

Posted August 24th, 2015 by Charles Purdy

Great end for the week for the euro

The euro strengthened across the board last week, breaking down the all-important GBP/EUR level of 1.40 thanks to positive news from the Eurozone throughout Friday. Purchasing Managers’ Index (PMI) data was released at 54.1, slightly better than the forecast figure of 53.8, while Consumer Confidence data was also an improvement of the forecast figure, hitting -6.8; a sign that the Eurozone is growing in strength.

The confirmation that a third Greek bailout had been passed by Greece’s creditors and its parliament enabled the single currency to move to a two month high against sterling, and when Greek PM Alexis Tspiras stood down late on Thursday this only served to push the euro higher.

There are important figures to be released this week, with IFO German Business Sentiment data and Gross Domestic Product (GDP) due today, and German retail sales later in the week – both of which are likely to impact the euro.

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 24th, 2015 by Charles Purdy

A plethora of data due for the US dollar this week – will it strengthen?

There was not much movement on Friday for the US dollar, although Manufacturing Purchasing Managers’ Index figures were slightly down compared to expectation, and the previous month.

We should be in for a busy week for the US dollar, with a basket full of data due throughout. Monday will see US Federal Reserve member Lockhart speak; expected to discuss last week’s Federal Reserve meeting minutes. Tuesday will see the release of Flash services Purchasing Managers’ Index (PMI), consumer confidence and new home sales, all expected to show moderate growth. Durable goods orders are due for release on Wednesday, and these are expected to show slight growth, but be below the previous month’s release. The focus this week will be on the Preliminary Gross Domestic Product (GDP) figure, expected to show very strong growth – the highest for three months.

However, much of the focus will remain on China, following last week’s Federal Reserve meeting minutes where they stated that the events here were a concern to 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 August 24th, 2015 by Charles Purdy

Busy week ahead for the Antipodean countries

There are a flurry of pivotal data out midweek for Australia and New Zealand. It’s a busy Tuesday for New Zealand, with the inflation expectations and Trade balance, with the latter due to be 540m worse than last month – thanks to the devaluation of the Yuan, and the drop in commodity prices with exports being down in recent weeks.

The Australians will be releasing their quarterly private Capital expenditure early on Thursday, shortly after Governor Stevens speaks on Wednesday. The results are forecast to be slightly better than last month, and no doubt investors will be hoping for the continuing strength that was seen at the end of last week as they near the time for their proposed interest hike.

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

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