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Posted January 29th, 2016 by Charles Purdy

Consumer confidence data to drive sterling strength today?

Sterling has had a mixed week, making gains against its major peers on Thursday which has continued into Friday.

As news that there would be no imminent interest rate rise in the US settled following the Federal Reserve meeting statement on Wednesday evening, sterling made gains against the dollar. Also sterling experienced a significant amount of fluctuation against the euro, but finished up 0.38%, possibly prompted by increased discussion around the EU referendum. This was focused on a Brexit triggering a disintegration of the EU but leaving the UK relatively unscathed.

The big data point for sterling today is the UK Consumer Confidence Index. A high level of consumer confidence stimulates economic expansion, positive for sterling, while a low level drives to economic downturn, negative for sterling. Expectations are for a rise from 1 to 2, which could give the UK currency a much needed boost.

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 January 29th, 2016 by Charles Purdy

Raft of data could spell a busy day for the euro

After a relatively quiet week so far for the euro in terms of Eurozone data releases, the single currency had a negative day on Thursday against many of its major peers. This was mostly due to uncertainty surrounding not only the EU referendum, which has been pencilled in for June, but also the continuing issues and debates following the global oil and commodity prices. German consumer inflation data continued to post a negative figure yesterday, hinting at further weakness in the Eurozone. Negative data coming out from both Italy and Spain added fuel to the Eurozone’s figurative fire.

This morning we have raft of data coming from France, Spain and Germany, as well as an all-important Consumer Price Index (CPI) estimate from the Eurozone. An indicator of inflation, the latter is a key factor in Eurozone monetary policies, and will be viewed with interest by investors.

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

Posted January 29th, 2016 by Charles Purdy

US growth data could outweigh sterling effects on US dollar

It was a quiet start to the week for the US dollar with movement still being dictated by sterling. We saw Consumer Confidence data out on Tuesday – an increase on the previous month – posting its best figure in four months. However, it was Wednesday evening that had investors anticipating the US Federal Reserve interest rate decision and the statement that followed. The Federal Reserve kept rates on hold as expected, but it was the tone in the statement that weakened the US dollar slightly, with the central bank now monitoring the global economy before making another decision on raising interest rates. The US dollar also did not receive support on Thursday, with durable goods orders showing contraction again, posting its lowest level since September 2014.

Today we can look forward to an advanced growth data release, which is expected to show successive growth. The Federal Reserve members will be keeping a close eye on this figure to indicate how well the US economy is growing.

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 January 29th, 2016 by Charles Purdy

Japanese yen starting to derail

After a blistering start to 2016, the Japanese yen has started to derail, losing over 2% against sterling this week. Retail sales out on Wednesday were disappointing, falling 1.2% short of expectation. Household spending and the Tokyo Consumer Price Index were out last night. The main event though, which has weakened the yen across the board, is their central bank has followed the European Central Bank and made their interest rate negative.

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

Posted January 28th, 2016 by Charles Purdy

Sterling falls back down as the markets anticipate US Federal Reserve meeting minutes

Sterling saw many of the previous day’s gains reversed on Wednesday, as markets geared up for the release on Wednesday evening of minutes from the latest meeting of the US Federal Reserve.

Little UK economic data was released on Wednesday that would influence trading patterns, but with sterling having risen to a two-week high against the US dollar as worries heightened that the global disinflationary environment could lead to the Federal Reserve cutting interest rates back to 0.05% this year. These worries proved to be short-lived however, and sterling fell against the US dollar, and hit a one-week low versus the euro during the afternoon.

Today brings the release of preliminary economic growth data from the UK for the final quarter of 2015. With this being the first release it could have a significant impact on sterling should it show a figure different to that expected. The consensus forecast is 0.5% for the final quarter and 1.9% for the 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 January 28th, 2016 by Charles Purdy

Investors await a raft of releases for the Eurozone today – how will this affect the euro?

A number of euro fundamental indicators on consumer confidence were in line with expectations yesterday, so the majority of the movements were based on information coming from outside the Eurozone. It ended the day down against the US dollar (following the Federal Reserve release) and slightly up against sterling.

Thursday has a variety of data coming out for Germany (Import Price Index, Consumer Price), Spain (Unemployment Survey), Italy (Wage Inflation) and Portugal (Business Confidence) that will directly affect the – alongside Consumer Confidence, Services Sentiment, Industrial Confidence, Business Climate and Economic Sentiment Indicator for the Eurozone. These could affect the direction of movement and sentiment of the communal currency.

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

Posted January 28th, 2016 by Charles Purdy

US dollar

With minimal data released for the US during the day on Wednesday, attention turned to the US Federal Reserve Statement and Rate decision in the evening. Given the recent turmoil in stock markets, China and the falling oil price, the tone of the statement was more supportive of future US interest rate rises than expected as they focused on the economy rather than the stock market. This was supportive of the US dollar.

Today we see the release of the weekly unemployment claims, and this is expected to post another stable figure – along with durable goods orders, which is expected to fall in line with the recent negative inflation release and also post contraction.

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

Posted January 28th, 2016 by Charles Purdy

Good day for Australia – for a change!

It was a great day for the Australia dollar on Wednesday, as it gained on all other world currencies, including 1.5% against sterling. The data released in the early hours of Wednesday was encouraging, as their quarterly Consumer Price Index (CPI) data came out 0.1% above expectation. As a result of this, it became the best time to sell Australian dollars this year.

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

Posted January 26th, 2016 by Charles Purdy

Looking to BoE for support for sterling

Sterling struggled throughout Monday as it resumed the trend of recent weeks and fell against the majority of its major trade partners. Following three days of gains against both the euro and US dollar towards the end of last week, fresh fears surrounding a possible UK exit from the Eurozone affected sterling on Monday as it struggled to hold onto one-week highs against these currencies. With little economic data of note released from across the board, markets were relatively quiet throughout early trading. After Bank of England (BoE) committee member Forbes stated that low labour costs will need to increase in order to exert inflationary pressure, sterling lost support and fell back towards the six-year low seen recently against the US dollar.

Today is another relatively quiet day for economic data releases, with investors awaiting the testimony of BoE Governor Carney with regard to the financial stability report this morning. Should he touch upon monetary policy, we could see significant movement in the market.

If you are looking to buy or sell sterling, we suggest contacting your trader now for live rates, news and currenc

Posted January 26th, 2016 by Charles Purdy

Quiet day for the euro, but watch out

Monday was a quiet day for the euro as it moved up slightly against the US dollar and sterling, but little news or data from the Eurozone made any gains very limited. Earlier in the morning, German IFO business sentiment data came out worse than forecasted, having fallen from 108.4 to 107.3, but this had little effect on the single currency’s performance. European Central Bank (ECB) President Mario Draghi also spoke on Monday but did not focus on monetary policy in his speech.

Very little is forecast to happen today in terms of major economic events or data from the Eurozone. All else being equal, we are expecting another slow day for the , with it likely to remain at these current levels until later on in the week. However, the nature of currency markets means that currencies are susceptible to external influences. As such, any surprises from major markets like those of the UK or US could potentially affect movements today.

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

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