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 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.

Comments are closed.

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 February 13th, 2015 by Charles Purdy

Shock news in Sweden

The Swedish krone dropped dramatically on Thursday, as Riksbank decided to ease policy further at the February meeting. The shock came, however, when they also decided to lower the key rate to -0.1 per cent. Off the back of this new, the Swedish currency dropped well over a per cent against both the euro and the dollar – now standing at six year lows.

Thursday saw the New Zealand dollar drop down against the US dollar following the release of worse than expected New Zealand manufacturing, and with concern around the situation in Greece continuing to dominate the headlines. Data showed that the New Zealand Business Manufacturing Index dropped to 50.9 last month, following on from Decembers high reading of 57.1.

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

Posted March 27th, 2014 by Charles Purdy

New Zealand dollar strengthens

Yesterday was quiet in terms of global data, with only the New Zealand Trade balance worthy of note. This data was positive and saw the New Zealand dollar gain ground against sterling. The Swedish krona traded lower the whole day and finished around 0.8% down by the end of the trading session.

Today sees inflation data out of Japan, along with statistics on retail sales and unemployment. The Bank of Japan Governor Haruhiko Kuroda said earlier this month that they need to see all the data required in order to decide if the inflation target is threatened or not, which could lead to more monetary easing. Therefore, any statements made following the data releases today will be followed closely.

Additionally, we will have interest rate decisions, to be published in both South Africa and Norway. Even though growth decreased slightly during the first quarter of the year in Norway, consensus seems to lie with an unchanged interest rate today, as inflation is likely to remain close to their central bank’s target of 2.5%.

Looking to buy or sell currencies? Call your trader now for the latest rates and updates, as well as for guidance on currency-buying solutions.

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