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Posted September 29th, 2015 by Charles Purdy

Data from Canada and New Zealand could affect currency

There was very little data to report from most of the major world currencies yesterday as the week got off to a slow start. This could mean more movement today.

Today sees the release of Canada’s Raw Material Price Index (RMPI) and Industrial Product Price Index (IPPI) data. Any change in oil price is likely to cause a more significant movement in the currency.

Elsewhere, we have building consent data from New Zealand. This shows the change in the number of new building approvals issued in the country. Any changes could spell some movement for the New Zealand dollar.
Are you looking to buy or sell currencies? Contact your trader now for live rates, news and currency purchasing strategies.

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Posted September 28th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3597  
GBP/USD   1.5185  
EUR/GBP   0.7352  
EUR/USD   1.1167  
EUR/AUD   1.5902  
GBP/AED   5.5769  
GBP/AUD   2.1615  
GBP/CAD   2.0252  
GBP/CHF   1.4881  
GBP/CNY   9.6718  
GBP/DKK   10.143  
GBP/HKD   11.768  
GBP/HUF   427.94
 
GBP/INR   100.39  
GBP/JPY   182.68  
GBP/NZD   2.3770  
GBP/PLN   5.7478  
GBP/RUB   99.593  
GBP/SEK   12.798  
GBP/THB   55.067  
GBP/TRY   4.6175  
GBP/ZAR   21.054  
Posted September 28th, 2015 by Charles Purdy

Sterling continues to fall

Sterling ended the week with further losses, falling to a four-month low against the US dollar as Federal Reserve chair Janet Yellen shared her belief that US interest rates would rise before the end of the year. Sterling also struggled against the euro falling close to levels last seen in the first few months of this year. In the space of a few weeks sterling has lost around 6% against both the euro and the US dollar, not a good sign.

A quiet start to the week could result in further trouble for sterling. With no significant data expected from the UK until Wednesday, sterling movement is likely to be influenced by events elsewhere. The release of the latest current account deficit, along with economic growth over the previous quarter, could result in some movement, as investors get a clearer view of the current economic situation in the UK. Thursday sees the release of the first Purchasing Managers’ Index (PMI) data of the month. This comes from the manufacturing industry, and will be followed by construction data on Friday. After disappointing results last month, investors will hope to see a turnaround in both of these figures before the more influential services sector data is released next Monday.

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 28th, 2015 by Charles Purdy

Euro ends the week on a high

Last week ended on a positive note after a rollercoaster ride for the euro; despite little data being released, it strengthened against both sterling and the US dollar on Friday. Against sterling, the strengthening was over 1% – pushing the British currency to its weakest level in a month.

This week is likely to get off to a quiet start, with nothing of note expected on Monday; early on Tuesday, retail sales data from Germany will be released; this is forecast to fall sharply to 0.3% from 1.4%. The main release for the week will be on Wednesday, as we have both the Consumer Price Index (CPI) and unemployment data being released; unemployment is most likely to remain unchanged at 10.9%, while CPI is forecast to keep its head just above negative levels, but nonetheless is expected to fall from 0.2% to 0%.

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 28th, 2015 by Charles Purdy

US dollar strengthens

The US dollar held its previous gains against sterling on Thursday, despite US initial jobless claims and continuing claims figures disappointing against expectations. Later, in the local session from Federal Reserve Chairwoman, Janet Yellen, the American currency pushed higher, thanks to her assertion that it “will likely be appropriate to raise the target range for the federal funds rate sometime later this year.” Friday saw the dollar strengthen further, after a positive Gross Domestic Product (GDP) reading for the second quarter of 3.9% in comparison to the forecast 3.7%.

This week we have a raft of US data spread throughout the week but the highlight will be the Non-farm payroll figures released on Friday which are expected to show a slight improvement on last month. They will be accompanied by the unemployment rate and the hourly earnings figures. So we should expect some significant movement for the US dollar if the case for a US interest rate rise becomes irresistible.

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 28th, 2015 by Charles Purdy

Chinese yuan and Australian dollar both on the up

There will be two major economic indicators released from Australia next week – after the currency gained almost half a percent on both the dollar and sterling on Friday, investors will be hoping that the results of these will be above expectations once again.

Much like the Australian dollar, the Chinese yuan also rose against sterling and the US dollar on Friday and there is hope that this will be the start of a much needed recovery. Thursday is the busiest day for China this week, with the release of both the Manufacturing and the Caixin Final Purchasing Managers’ Index (PMI). Both fell short of predictions last time around, so they will be needing better results to help bolster the yuan’s recovery

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

Posted September 25th, 2015 by Charles Purdy

Smart Daily Exchange Rates

CURRENCY   RATE   CHANGE
GBP/EUR   1.3667  
GBP/USD   1.5234  
EUR/GBP   0.7314  
EUR/USD   1.1144  
EUR/AUD   1.5855  
GBP/AED   5.5939  
GBP/AUD   2.1665  
GBP/CAD   2.0308  
GBP/CHF   1.4927  
GBP/CNY   9.7106  
GBP/DKK   10.196  
GBP/HKD   11.806  
GBP/HUF   428.51
 
GBP/INR   100.80  
GBP/JPY   183.63  
GBP/NZD   2.4048  
GBP/PLN   5.7632  
GBP/RUB   100.25  
GBP/SEK   12.821  
GBP/THB   55.159  
GBP/TRY   4.6223  
GBP/ZAR   21.060  
Posted September 25th, 2015 by Charles Purdy

Sterling struggles to recoup strength

It has been a tough week for sterling, losing significant ground against both the euro and US dollar in a week with no significant economic data releases to support the beleaguered currency. A steady start to the week saw sterling trade largely sideways against the US dollar, while actually gaining ground against the euro in the wake of the Greek parliamentary elections.

With Syriza sweeping to a dominant victory and speculation that the European Central Bank (ECB) would expand their quantitative easing (QE) programme, sterling was able to reverse its recent losses against the euro. However, with sentiment over UK industrial growth turning negative and ECB President Mario Draghi confirming that there would be no extension to QE, sterling fell to its lowest level against the euro since late August 2015. Alongside this, a number of market commentators and banks, including RBS, have pushed back their forecasts on when the Bank of England will hike interest rates. This has created a wider struggle for sterling, which fell again to the lowest level against the US dollar since the start of September.

Today’s most eagerly anticipated data will come from the US, where final confirmation of economic growth over the past quarter will be released. Following a poor week for sterling, a strong reading here could push the UK currency to fresh recent lows against the US dollar.

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

Posted September 25th, 2015 by Charles Purdy

The Euro has a better than expected week

After a poor start to the week, the euro staged a recovery following Wednesdays statement from the President of the European Central Bank that it was too soon to make any changes to their programme of quantitative easing (QE). Speculation had been rife that such a statement would be made with the aim of weakening the euro following its recent bout of strengthening. The reverse has now happened and we are close to support levels against sterling, which, if breached could see the exchange rate push back towards €1.30/£1.

The weakness for the euro at the start of the week followed the re-election of the Syriza party in Greece and the release of economic data that fell short of expectations. There are limited Eurozone data releases today so we should expect the main driver of movement to be continued adjustments resulting from Wednesdays statement and news from elsewhere.

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

Posted September 25th, 2015 by Charles Purdy

Mixed fortunes for the US

Against sterling, the US dollar continued to be in the ascendancy. However, a mixed bag of US economic data below expectations, combined with less dovish comments from European Central Bank President Draghi, forced the continued decline against the euro. This has been a recurring feature in recent months during periods of uncertainty, where investors have been buying the euro in order to pare bets against the single currency.

Traders will have been watching Federal Reserve Chair Yellen’s speech at 21:00 on Thursday closely. Friday will focus on the Gross Domestic Product (GDP) Price Index, and, more importantly, the annualized second quarter GDP number, which is expected to come in at 3.7%, in line with the previous figure. This key data to be released today could see the US dollar strengthen against a struggling sterling, pushing its UK counterpart to new lows.

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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