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Posted September 30th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3495  
GBP/USD   1.5146  
EUR/GBP   0.7405  
EUR/USD   1.1219  
EUR/AUD   1.6041  
GBP/AED   5.5630  
GBP/AUD   2.1648  
GBP/CAD   2.0323  
GBP/CHF   1.4765  
GBP/CNY   9.6263  
GBP/DKK   10.070  
GBP/HKD   11.738  
GBP/HUF   422.78
 
GBP/INR   99.555  
GBP/JPY   181.74  
GBP/NZD   2.3743  
GBP/PLN   5.7121  
GBP/RUB   99.621  
GBP/SEK   12.706  
GBP/THB   55.031  
GBP/TRY   4.5726  
GBP/ZAR   20.977  

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Posted September 30th, 2015 by Charles Purdy

Significant data due from UK today

Sterling fell to a fresh five-month low against both the euro and US dollar as sterling sentiment took a significant decline throughout early-morning trading. Fears of a slowing global economy affecting UK economic growth continue to linger, leading investors to ignore better-than-expected UK realised sales throughout September.

Today we have the release of the first significant data releases from the UK this week, with confirmation of the second quarter current account deficit released along with economic growth figures for the previous quarter. Considering sterling’s current predicament, any positive news should be supportive of sterling and perhaps if much better than expected see sterling rebound strongly from these levels.

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

Posted September 30th, 2015 by Charles Purdy

Will CPI data help the euro rebound today?

Yesterday was a day of contrasting data for the Eurozone which saw the euro hold itself below the 1.35 level against sterling. Economic sentiment hit a four year high which suggests that European businesses have become more upbeat and that the quantitative easing programme is working whereas inflation in Germany fell to 0% this month, which should add pressure on the European Central Bank (ECB) to ramp up its quantitative easing programme. The ECB targets inflation of close to under 2.0%, which is a long way off, given current levels. German Consumer Price Index (CPI) data also fell to 0.2% from last month’s figure, compared to expectations for a decline of 0.1%.

Today we expect two pieces of key data from Germany. Retail sales data, is released at 7.30am this morning, and is forecast to fall to 0.2%, in comparison to 1.4% last month. Employment data and CPI data from the Eurozone is out at 10am – as the CPI is an indicator of inflation, results could have a significant effect on euro 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 September 30th, 2015 by Charles Purdy

Will the US dollar continue to strengthen today?

The US dollar strengthened further on Tuesday as consumer confidence posted its strongest figure since August 2007. This shows confidence is high in the US even with the expectation of an interest rate rise possibly being pushed back until next year, and the knock on effect from the recent struggle in the Chinese economy. US Federal Reserve member Loretta Mester also said that the US are able to deal with an increase in rates this year – she is the second member who looks to be pushing for an increase in the short term.

The focus on this week will be on Friday’s non-farm employment change data, which is expecting to post an increase on the previous month’s. Today we will see an indicator leading up to this release, with the ADP non-farm employment change. Following this, we can look forward to Federal Reserve Chair Yellen speaking in the evening. Any indications as to a potential rate hike could spell movement in dollar markets.

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 September 30th, 2015 by Charles Purdy

Canadian growth figures due

It was very quiet on the data front again yesterday, with the only notable release being the Raw Materials Price Index (RMPI) out of Canada which was better than expected – however, this had little effect on the market. Today’s release of growth figures at 1.30pm is expected to be the same as last month’s; however, any surprises could have a large influence on the strength of the Canadian dollar.

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

Posted September 29th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3498  
GBP/USD   1.5186  
EUR/GBP   0.7403  
EUR/USD   1.1246  
EUR/AUD   1.6117  
GBP/AED   5.5769  
GBP/AUD   2.1754  
GBP/CAD   2.0347  
GBP/CHF   1.4759  
GBP/CNY   9.6609  
GBP/DKK   10.072  
GBP/HKD   11.769  
GBP/HUF   424.62
 
GBP/INR   100.23  
GBP/JPY   181.86  
GBP/NZD   2.3930  
GBP/PLN   5.7293  
GBP/RUB   100.42  
GBP/SEK   12.797  
GBP/THB   55.280  
GBP/TRY   4.6317  
GBP/ZAR   21.302  
Posted September 29th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3498  
GBP/USD   1.5186  
EUR/GBP   0.7403  
EUR/USD   1.1246  
EUR/AUD   1.6117  
GBP/AED   5.5769  
GBP/AUD   2.1754  
GBP/CAD   2.0347  
GBP/CHF   1.4759  
GBP/CNY   9.6609  
GBP/DKK   10.072  
GBP/HKD   11.769  
GBP/HUF   424.62
 
GBP/INR   100.23  
GBP/JPY   181.86  
GBP/NZD   2.3930  
GBP/PLN   5.7293  
GBP/RUB   100.42  
GBP/SEK   12.797  
GBP/THB   55.280  
GBP/TRY   4.6317  
GBP/ZAR   21.302  
Posted September 29th, 2015 by Charles Purdy

Sterling dependent on events in other countries

Sterling has continued to slip against the euro and has fallen below the key support level of €1.35/£1. This may be a short term blip but with the UK again quiet on the economic data front, sterling also found itself drifting against other major trading partners. News of a proposed takeover of UK-based beverage firm Sab Miller did spark some early morning strength for sterling, although this was eroded throughout the day as pessimistic sentiment again took over sterling investors.

Today again promises to see little data released from across the board, with consumer confidence figures from the US most likely to cause a stir. Elsewise, investors will look towards the event of Bank of England (BoE) Governor Carney speaking during the evening for any clues regarding UK interest rates.

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

Posted September 29th, 2015 by Charles Purdy

Will the euro sustain yesterday’s good graces?

The euro had a good start to the day against sterling and the US dollar on Monday, as overall sentiment for a US rate hike in the upcoming months became more unlikely. It was a very quiet day for the single currency on the data front. Italian business confidence data was released, coming out much better than expected, at 104.2 in comparison to the forecasted figure of 102.7. The euro finally breached the key resistance level against sterling of 1.35, a key level it hadn’t broken since May this year.

Today is an important day for the single currency, with Business and Consumer confidence data due from the Eurozone. Given the strength of today’s Italian figure, it is hoped that the Eurozone data will also be improved; whether the former was sufficient to affect the latter remains to be seen. Germany also releases its preliminary Consumer Price Index (CPI) data; an indicator of inflation, it is forecast to fall to a negative figure of -0.1%, down from 0%. Falling below the zero percent line is a physiological level and is likely to unsettle the single currency yet again.

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

Posted September 29th, 2015 by Charles Purdy

Is the US on track for an interest rate hike?

News that personal spending in the US has increased slightly was released on Monday, despite news that personal income had dropped slightly. While the former should reflect in upcoming retail sales figures, the implication is that consumers are not saving, a point which the US Federal Reserve will need to take into account when considering a potential US interest rate hike.

There were multiple US Federal Reserve members who gave speeches on Monday, but the highlight was by New York Federal Reserve Bank President William Dudley, who said that they expect rates to rise later this year. The US dollar strengthened following this comment.

There is very little data of significance due today, with consumer confidence expected to show a slight decline. Attention will turn to any comments made by US Federal Reserve members following Dudley’s comments yesterday, with various banks also raising their expectations on US growth rates for the third quarter of 2015.

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

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