Call Free Phone Now:0808 163 0102
Outside the UK: +(44) 207 898 0541 Request a Call Back
 
  Daily Currency News Euro US Dollar Educational Articles  
 
Posted April 17th, 2015 by Charles Purdy

Canadian dollar at 3 month highs

  • The Canadian dollar soared to three-month highs against its local but larger neighbour, the US dollar. This was largely fuelled by disappointing US economic reports that heightened speculation over the timings of a US rate hike by the Federal Reserve. The Canadian dollar capitalized on this as The US dollar reached 1.2232 against its Canadian counterpart, the US dollar’s lowest position since 21st January.
  • Things were also looking up for the Australian dollar on Thursday as a report by the Australian Bureau of Statistics showed that the number of people in employment jumped by 37,000 in March, more than double expectations. It has been a mixed week for the Australian economy, but this overshooting of employment figures certainly gives it a reason for positivity.

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

Comments are closed.

Posted April 10th, 2015 by Charles Purdy

Weak Canadian buildings data

This week was a strong one for the Canadian dollar, as it reached month long highs at the beginning the week and was able to maintain this position after a mixed bag of data from the US. The biggest shock of the day was the dramatic fall in Canadian building permits – 0.9% in February – completely against the expectations of a 5% increase. However, after a drop off the month before, Canada’s new house prices jumped up 0.2%.

Looking ahead to today, we have some important unemployment data from Switzerland – and this will give a good understanding of the current position of the Swiss labour market

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

Posted March 27th, 2015 by Charles Purdy

Canadian dollar gathers momentum

The Canadian dollar had a good day on Thursday as it jumped up against its biggest rival, the US dollar. Bank of Canada Governor, Stephen Poloz, mentioned that January’s surprise rate cut had “bought some time” to examine the effects of lower oil prices. Speaking in London, Poloz said the Bank of Canada was continuing to closely monitor oil prices, and would do what was necessary to keep inflation near its 2% target.

Thursday also saw the New Zealand dollar drop off from its recent strong positon, but the losses were minimised thanks to Wednesday’s widely disappointing US data.

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

Posted March 9th, 2015 by Charles Purdy

US dollar dominant

The Canadian dollar had a weak finish to the week as it dropped to levels of almost two-week lows against its US counterpart. This was largely due to Statistics Canada reporting that the trade deficit widened to C$2.45 billion in January from C$1.22 in December. Experts had expected trade balance to swing into a surplus of C$0.3 billion in January.

Elsewhere, Friday was a slim day for data realises. The Australian dollar moved up slightly against the US dollar in the anticipation of non-farm payroll data out of the US. However it then lost this ground following the realease, as the outcome was much better than initially expected.

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

Posted February 27th, 2015 by Charles Purdy

Russian rouble best performing major currency in February!

The Russian rouble has been the best performing major currency in February 2015. Respite from a falling oil price and the possibility of a cease fire in Ukraine helped reverse the recent trends; it was the worst performing major currency in 2104 and closed at the end of January at record lows against the US dollar. However market commentators expect the downward trend to continue as desperately needed inward investment is unlikely to be forthcoming given the situation in Ukraine.

The Canadian dollar had an unexpected mid-week drop on Thursday, even following better than expected data from the country; Consumer prices fell 0.2% last month, compared to the greater decline expected and compared to a much steeper drop of 0.7% in January.

Strong data out of New Zealand on Thursday saw the kiwi dollar trading at almost one month highs against the US dollar. The country’s trade balance swung into a surplus of NZ$56 million last month from a deficit of NZ$195 million in December.

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

Posted January 19th, 2015 by Charles Purdy

Key Chinese data released on Tuesday

  •  Friday also saw the US dollar draw back against the Swiss franc, easing off on Thursday’s three-and-a-half year lows. After Thursday’s mayhem following the decision by the Swiss central bank to remove its cap on the euro, markets relaxed and digested the surprise decision. 
  • Tuesday is a key day for data out of China with growth, fixed asset investment, retails sales and industrial production figures being released. Growth is expected to have pulled back slightly to 7.2%
  • The Canadian dollar had an awful finish to the week as it reached fresh lows against its US counterpart and dropped to five- year lows. Alarm signals will be ringing as to quite how strong the US dollar can become. Key inflation data is released at the end of the week.

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

Posted November 10th, 2014 by Charles Purdy

Japanese yen still weakening

  • The Japanese yen has lost  significant amount of ground on the US Dollar – almost 50% on the dollar – in the last three years. Taro Aso, head the Ministry of Finance, said that an increase in sales tax for Japan will be happening as planned. The logic being behind this is that the economy is very unlikely to further worsen in the next year. Looking forward to this week, we have consumer confidence data out of Japan, which is unlikely to do much better, with the previous figure coming in at 39.9.
  • The Canadian dollar had a great end to the week on Friday as unemployment data came out better than expected at 6.5%, when it was forecast at 6.8%. We saw the dollar strengthen from 1.8110 to 1.7940 in a matter of minutes against sterling as a whole raft of impressive data was released, including the net jobs figure at 43,100 in comparison to the forecast that it would lose 5,000 jobs. Next week should be a fairly quiet week for the Canadian dollar, with the New Housing Index out on Thursday the only data release of note.

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

Posted July 30th, 2013 by Charles Purdy

Canadian Dollar keeps rising and Japanese Yen performs well | 30/07/2013

Elsewhere, the Canadian dollar had another strong day yesterday, rising for the third consecutive day and climbing against the majority of its major peers. The strong performance was down to crude oil, the nation’s biggest export, trading above $100 a barrel for the 18th day in a row. The performance is concluding a strong month for the Canadian currency, which has logged gains of 2.5% against its US counterpart this month. The Japanese yen was also a standout performer, with a 3% plunge in the Japanese stock index leading to a hike in demand for the safe haven currency. Strong monthly retail sales were also a catalyst for the yen’s strong performance. The New Zealand dollar struggled yesterday, losing out against the majority of its most traded peers, as the Prime Minister, John Key, claimed that it was ‘overvalued’ and that the government would welcome a slide. Overnight eyes were on Australia, with monthly building approvals statistics being followed by a statement from the central bank governor. Later today we have monthly raw material prices data out of Canada, a good overall inflation indicator. Get in touch for live rates.

© Copyright 2010 Smart Currency Exchange. All Rights Reserved.
Site by Iniquus