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Posted December 17th, 2012 by Charles Purdy

Smart Daily Currency Note | No change, euro still on top

GBP/EUR – 1.2298
GBP/USD – 1.6179
EUR/GBP – 0.8129
EUR/USD – 1.3152
GBP/AED – 5.9436
GBP/AUD – 1.5362
GBP/CAD – 1.5965
GBP/CHF – 1.4861
GBP/HKD – 12.5432
GBP/HUF – 349.62
GBP/INR – 88.51
GBP/JPY – 135.89
GBP/NZD – 1.9178
GBP/SEK – 10.7812
GBP/ZAR – 13.9426

Sterling

Sterling continued to have a split personality on Friday, managing to advance against several of its major trading peers, while losing ground against others. The release of strong German Services PMI data helped contribute to sterling losing further ground against its European partner, falling below 1.23 again. It was better news versus the US dollar, with sterling managing to continue its weekly gain against its American counterpart. There was very little data out of the UK at the end of the week to influence the currency. Expect more influence on the markets this week as Consumer Price Index (CPI) inflation data is released; expected to remain slightly above the Bank of England’s 2% target. Thursday will also see the release of Core Retail Sales data which will give a good indication into the current level of consumer activity and economic health in the economy in this very important time before Christmas. Call in now to see how this will affect sterling and to get a live price.

Euro

The euro performed well on Friday reaching a three month high of 1.3170 against the US dollar and pushing below the 1.23 mark against sterling due to the central bank intervention in the US and the European politicians agreeing on a framework for a single supervisory bank for the 27 member community. With thin trading volumes this week we can anticipate volatile pricing as market reaction is exaggerated to any bit of news. The key data release comes on Wednesday as an influential German survey on business climate is released, a strong indicator of economic health that was positive for the first month in six in November – more good news could see the euro continue to strengthen. Traders will have a keen eye on affairs on the other side of the water as the Americans look to avoid the fiscal cliff — good news will be positive news for the euro as risk appetite returns. The euro certainly seems to have a following wind supporting it at the moment. Check in now for the latest news and pricing.

US Dollar

The US dollar continued to weaken across the board on Friday following last week’s announcement from the Federal Bank to inject more money into the economy and alongside the on-going Fiscal Cliff situation that is without resolution. Poor inflation data released on Friday showed that the Core (CPI) data had declined by more than forecast. This was after a US inflation report showed prices fell in November for the first time in six months, boosting expectations the Federal Reserve will stay on its “operation twist” monetary policy path. Today we have a quiet day on data coming out in the US; but, this week all eyes will be on Obama’s plan to tackle the Fiscal Cliff, especially following frustration and concerns from little progress being made last week. Building permits and existing home sales figures will also be released as well as the Philly Fed Manufacturing Index and Core Durable Goods Orders. Call in now for the latest news and live rates.

Worldwide

Elsewhere, on Friday the yen strengthened from an almost nine-month low against the dollar ahead of the elections on Sunday in anticipation of a change of power. The Swedish krona weakened against most of its major counterparts after its Finance Minister said unemployment was likely to keep increasing. Strong Chinese manufacturing data lead to gains for the commodity backed currencies. In South Africa markets will be nervous and volatile ahead of the 5 yearly national congress for it’s ruling party – which some see as losing its grip. We are likely to see further volatility for the Australian and New Zealand dollar with quarterly Current Account and GDP data released early in the week. Call in today to speak to your trader.

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Posted October 18th, 2012 by Charles Purdy

Smart Daily Currency Note – 18th October 2012 – Sterling slips to 1.2285 against the euro

GBP/EUR – 1.2304
GBP/USD – 1.6126
EUR/GBP – 0.8120
EUR/USD – 1.3101
GBP/AED – 5.9216
GBP/AUD – 1.5538
GBP/CAD – 1.5778
GBP/CHF – 1.4892
GBP/HKD – 12.4932
GBP/INR – 85.46
GBP/JPY – 127.72
GBP/NZD – 1.9628
GBP/SEK – 10.5852
GBP/ZAR – 13.8312

Sterling

Sterling struggled yesterday, dropping to 1.2285 against the euro in the early hours of Wednesday morning due to the euro’s increasing strength amidst rumours of an impending Spanish bailout and Moody’s (one of the big three credit rating agencies) confirmed Spain would keep its investment grade credit rating. Whilst sterling struggled due to an increase in global risk appetite, it continues to rise against the US dollar and the Japanese yen. The latest meeting minutes from the Monetary Policy Committee (MPC) revealed that all 9 members voted to keep interest rates and quantitative easing on hold as was widely expected. Unemployment data released yesterday was particularly upbeat with 4000 less people applying for unemployment benefits during the past month and the overall unemployment rate dropping by more than expected to 7.9%. Retail sales data released today, which measures the rate of consumer spending, is expected to show a marginal increase of 0.4% up from last month’s 0.2% drop. Whilst the retail sales figures will be watched closely by investors, any news from the EU Economic Summit is likely to have a much bigger impact on sterling’s strength, so please call to discuss expectations with your trader and for a live price.

Euro

The euro performed well yesterday, strengthening to a one month high against the US dollar of 1.3120 and peaking at 1.2285 against sterling before weakening off slightly as the day progressed. This shift can be largely attributed to Moody’s (one of the big three credit rating agencies) announcement that Spain was keeping its investment grade credit rating which eased concerns surrounding the country and the region in general. The EU Economic Summit starts today, where the heads of state will meet to discuss plans to create a closer fiscal union as well as discussing the on-going problems surrounding Greece and Spain in particular. Any news leaked from these meetings could cause a lot of volatility in the markets; furthermore, the markets will also focus on the benchmark 10-year Spanish bond auction as the EU Summit and Moody’s announcement draws more attention to it than normal, so call in now for the latest news and changes in the euro rate.

US Dollar

The US dollar was one of the worst performing currencies yesterday, weakening against all other majors yesterday due to the general increase in global risk appetite and following new housing data in the US revealing an increase to a 4 year high in September. This positive data will have a ripple effect on the US economy, damping demand for safer assets. Out today, we have the weekly release of data showing the change in the number of new people claiming unemployment benefits, whilst economic sentiment figures from US manufactures will also be announced. Please call in now for the latest news and a live update.

Worldwide

Elsewhere, the biggest mover of the day was the South African rand rebounding strongly against its major counterparts due to increased risk appetite following Moody reaffirming Spain’s investment grade credit rating. The commodity backed currencies performed well in general due to this renewed global appetite for risk with the Australian dollar, New Zealand dollar and Canadian dollar all strengthening. The Canadian dollar was particularly strong following the better than forecast housing data coming out of the US which helped the currency gain against its biggest trading partner as economic sentiment increased. Chinese GDP data was released over night and Swiss trade balance will be the main other piece of data released in what is a fairly quiet day on the data front; with most eyes firmly on the first day of the EU Summit. Call in now for the latest news and a live quote.

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Posted October 9th, 2012 by Charles Purdy

Smart Daily Currency Note – 9th October 2012 – Sterling continues to be under pressure

GBP/EUR – 1.2352
GBP/USD – 1.6039
EUR/GBP – 0.8098
EUR/USD – 1.2975
GBP/AED – 5.8878
GBP/AUD – 1.5704
GBP/CAD – 1.5652
GBP/CHF – 1.4987
GBP/HKD – 12.4352
GBP/INR – 84.04
GBP/JPY – 125.67
GBP/NZD – 1.9527
GBP/SEK – 10.6227
GBP/ZAR – 14.2096

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Sterling continues to be under pressure and was one of the worst performing currencies yesterday dropping to 1.2350 against the euro and 1.6025 against the US dollar as the focus remained on developments in Europe. The main release today will be data showing the monthly change in the total value of output produced by manufacturers and investors will be hoping for some good news after the raft of poor manufacturing data that we have seen released recently. Other data released includes trade balance figures and as sterling continues to struggle investors wait to see if the seven day negative trend against the euro will continue, so please call in now for the latest news and rates.

The euro had a mixed day as finance ministers at the Eurogroup meetings announced that the €500 billion support fund knows as the European Stability Mechanism (ESM) was now fully operational providing some much needed security to the Eurozone. The markets however, are starting to worry as Spain continues to delay requesting for a full government bailout. Data released showed that German industrial production had declined; but, by slightly less than initially anticipated. There are more meetings in Europe today and the President of the ECB is also speaking meaning the potential for significant movements in exchange rates remains high, so call in now for the latest news and changes in the euro rate.

The US dollar traded on the side-lines yesterday due to the Columbus Day bank holiday; but, performed fairly well as the markets remain nervous due to the lack of a formal Spanish bailout request. It is a another quiet day in the US today; but with more meetings in Europe today there could still be a lot of price action due to shifts in global risk sentiment. Please call in now for the latest news and a live update.

Elsewhere, the South African rand continues to perform poorly as more industrial action took place, whilst the Japanese yen performed well as a safe haven currency. Overnight, business confidence figures from New Zealand were released alongside a raft of Japanese data including current account figures, economic sentiment and the Governor of the Bank of Japan was also speaking. Call in now for the latest news and a live quote.

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Posted October 8th, 2012 by Charles Purdy

Daily Currency Note 8th October 2012

GBP/EUR – 1.2388
GBP/USD – 1.6089
EUR/GBP – 0.8073
EUR/USD – 1.2984
GBP/AED – 5.9087
GBP/AUD – 1.5823
GBP/CAD – 1.5736
GBP/CHF – 1.5024
GBP/HKD – 12.4771
GBP/INR – 83.74
GBP/JPY – 126.42
GBP/NZD – 1.9701
GBP/SEK – 10.6571
GBP/ZAR – 14.1106

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Sterling had a poor day on Friday despite a lack of data being released in the UK, weakening against the euro to a two week low of 1.2380 whilst also weakening against the US dollar. One of the main releases this week will be figures showing the monthly change in the total value of output produced by manufacturers. This will be closely watched by investors due to the string of poor manufacturing data that we have seen released recently. Other data released this week includes trade balance figures, whilst there are G7 meetings and meetings between European officials which will all play a role in sterling’s relative strength. It is a busy week here and elsewhere in the world for economic data, so please call in now for the latest news and rates.

The euro performed well due to an increase in global risk appetite due to positive employment data being released in the US and following news the from the ECB saying they were ready to start buying government bonds should Spain make a formal request. The euro reached a two week high against both sterling and the US dollar. On the data front, final GDP data came out as expected at -0.2% and German factory orders came in lower than expected. This week there is a number of meetings taking place between European officials and Spain and Greece will be two of the main topics for conversation, any news leaked from these meetings can cause volatility and has done in the past, so call in now for the latest news and changes in the euro rate.

The US dollar was particularly weak on Friday as risk appetite continued to drive the market as yet more positive data was released from the US in the form of the highly influential non-farm payrolls data alongside the news that the unemployment rate had dropped below 8% for the first time in nearly 4 years. It is a bank holiday in the US today; but, later on this week there is quite a lot data released which includes consumer sentiment figures, inflation data and trade balance data. Please call in now for the latest news and a live update.

Elsewhere, the Japanese yen was weakened on Friday due to the increased risk appetite in the market and following the news that the Bank of Japan had voted to keep interest rates on hold on Friday morning. This was as expected and at the conference that followed, the Bank of Japan suggested that it would continue to loosen monetary policy to encourage growth. The Canadian dollar performed well as better than expected employment data and building permits figures were released. It is a busy week for data with a full economic calendar including New Zealand business confidence figures, Japanese current account data and Australian unemployment statistics. The President of the Swiss National Bank is speaking this week, Swiss inflation data will be announced and we also have the release of trade balance data from Canada. Call in now for the latest news and a live quote.

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Posted October 5th, 2012 by Charles Purdy

Daily Currency Note 5th October 2012

This week (Last week)
GBP/EUR – 1.2438 (GBP/EUR – 1.2572)
GBP/USD – 1.6182 (GBP/USD – 1.6250)
EUR/GBP – 0.8043 (EUR/GBP – 0.7953)
EUR/USD – 1.3002 (EUR/USD – 1.2926)
GBP/AED – 5.9391 (GBP/AED – 5.9719)
GBP/AUD – 1.5788 (GBP/AUD – 1.5539)
GBP/CAD – 1.5871 (GBP/CAD – 1.5907)
GBP/CHF – 1.5078 (GBP/CHF – 1.5217)
GBP/HKD – 12.5468 (GBP/HKD – 12.5998)
GBP/INR – 83.61 (GBP/INR – 85.68)
GBP/JPY – 126.82 (GBP/JPY – 125.95)
GBP/NZD – 1.9632 (GBP/NZD – 1.9488)
GBP/SEK – 10.7064 (GBP/SEK – 10.6088)
GBP/ZAR – 13.8374 (GBP/ZAR – 13.3958)

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Sterling struggled for most of this week due to a raft of poor data being released. Services, manufacturing and construction Purchasers Managers Index (PMI) figures all came out lower than expected with both the manufacturing and construction industries contracting which clearly underlines the weakness in the UK’s economy at present. In other news, the Bank of England kept interest rates and quantitative easing on hold as was widely expected. There is very little data out of the UK today and the focus will be split between markets expectations from Spain and the monthly jobs report released in the US. The potential for a lot of volatility remains so please call in now for the latest news and rates.

The euro had a strong week pushing through the 1.30 level against the US dollar and strengthening to 1.242 against sterling as the markets continue to speculate that a full Spanish sovereign bailout is imminent. The ECB’s decision to keep interest rates on hold at 0.75% was also viewed positively and the comments from the president of the ECB stating that the euro was “irreversible” and that the central bank was ready to start buying bonds pushed the euro higher still. On a more negative tone, the unemployment rate in Europe has risen to a record high of 11.4%. The euro continues to remain strong in anticipation of a Spanish bailout request; but, if the Spanish government continues to delay the request you can expect the markets to get very nervous and in turn a significant increase in volatility, so call in now for the latest news and changes in the euro rate.

The US dollar had a mixed week as global risk sentiment shifted between risk appetite and risk aversion. There was a raft of better than expected data out of the US which included an unexpectedly positive manufacturing and non-manufacturing PMI data release and the change in the level of the number of people employed in the last month also increased by more than economists predicted. The Federal Open Market Committee (FOMC) meeting minutes were released yesterday evening and will be closely analysed by investors following last month’s decision to implement a third round of quantitative easing. Non-farm payrolls data released will be the most significant data announced globally today as investors hope for signs that the world’s biggest economy is recovering. Please call in now for the latest news and a live update

Elsewhere, the Australian dollar performed poorly this week following the decision by the Reserve Bank of Australia’s to cut interest rates by 0.25%, as well as trade balance figures and retail sales data both missing market estimates. The South African rand also struggled due to the on-going unrest caused by the mining strikes. Overnight we had the Bank of Japan’s rate decision, press conference and monetary policy statement and later on today we have a raft of data released from Canada including employment figures and data showing the change in the value of new building permits issued. Call in now for the latest news and a live quote.

If you haven’t opened a Smart account yet, call on 0808 163 0102 (+44 0207 898 0541) or fill out our online Account Form

 

Posted August 15th, 2012 by Charles Purdy

Daily Currency Note – 15th August 2012

EURO/GBP – 1.2701
US$/GBP – 1.5667
CHF/GBP – 1.5260
CAN$/GBP – 1.5558
AUS$/GBP – 1.4960
ZAR/GBP – 12.8345
JPY/GBP – 123.62
HKD/GBP – 12.1542
NZD/GBP – 1.9466
SEK/GBP – 10.5069
AED/GBP – 5.7548
US$/EURO – 1.2332
INR/GBP – 86.96

We seem to be in the summer doldrums with sterling having a fairly stable day with trading volumes at record lows. Inflation data in the UK headlined by the Consumer Price Index (CPI) showed that inflation had unexpectedly risen by more than anticipated. The Bank of England’s latest meeting minutes released today are expected to show that all of the members of the Monetary Policy Committee (MPC) voted to keep the asset purchase facility and interest rates on hold. Anything else will be a significant surprise to the market and could result in significant movements in exchange rates especially with such low trading volumes. Other data released today includes the change in the number of new people claiming unemployment benefits. Call in now for the latest rates.

The euro was temporarily buoyed by the release of better than expected preliminary GDP figures from France and Germany. The data showed that France is not quite in recession; but, is instead stagnating whilst German figures showed marginally better than expected growth figures of 0.3; however, this is still down on last quarter. Much of Europe remains in deep recession and the Europe area wide preliminary GDP figures came in as expected at -0.2%. German economic sentiment figures were also worse than expected. Expect a very quiet day on the data front today with the Assumption day bank holiday celebrated across much of Europe; however, with news released in the UK and the US and so much uncertainty in the Eurozone there is always the potential for volatility. Call in now for the latest news.

The US dollar had a mixed day yesterday as much better than expected retail sales figures were released showing growth of 0.8% when only 0.4% had been anticipated. Producer Price Index (PPI) inflation figures came in as expected and the market will now look towards the monthly CPI data released today for influence. Get the latest news by calling in.

Elsewhere, India’s July inflation rate was released showing a figure of 6.87%, when 7.20% had been expected. Retail sales figures in New Zealand were slightly better than expected and the latest monetary policy meeting minutes from the Bank of Japan revealed that despite a unanimous vote to keep rates unchanged, a number of members were worried that the Japanese economy could struggle due to the on-going problems in Europe which weighed on the yen’s strength. Australian consumer sentiment figures were released overnight; however, very little other significant data will be released today; so, call in now for the latest news.

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Posted May 24th, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2461
US$/GBP – 1.5682
CHF/GBP – 1.4972
CAN$/GBP – 1.6078
AUS$/GBP – 1.6062
ZAR/GBP – 13.151
JPY/GBP – 124.67
HKD/GBP – 12.175
NZD/GBP – 2.0843
SEK/GBP – 11.231
AED/GBP – 5.7614
US$/EURO – 1.2579
INR/GBP – 88.15

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling strengthened against the euro and the commodity backed currencies; but, weakened against the US dollar and Japanese yen as risk aversion drove the market. Data released yesterday showed a sharp drop in retail sales figures to -2.3% when only a -0.8% figure was expected. The Bank of England’s policy meeting minutes revealed that the MPC members voted 8-1 to keep quantitative easing unchanged despite the deterioration of the Eurozone. Revised GDP data released today could cause a lot of volatility if the figures differ significantly from the widely disputed preliminary figures that showed the UK was back in a technical recession; so, call in now for the latest news and a live quote.

The euro was extremely weak yesterday reaching a 22 month low against the US dollar as fears that Greece could soon leave the euro were reaching fever pitch as rumours started to circulate that EU policy makers have now started to put contingency plans in place. German bond yields (treaded as a safe haven) have also reached an all-time low reaffirming the markets fear for the so called "Grexit” (Greek exit). German and Euro wide manufacturing Purchasing Managers’ Index (PMI) figures are released today; furthermore, German business climate data will go some way to show the state of the Eurozone economy; however, expect any news from Greece to have a much bigger impact on the market. Call in now for the latest news and a live quote.

The US dollar performed well yesterday driven by investors seeking “safer havens” following the on-going developments in Europe. On the data front, new home sales figures released yesterday came in above markets expectations. Out today, the main news on the agenda is the weekly change in unemployment claims and figures showing the change in the total value of new purchase orders placed with manufacturers for durable goods. With the fears over the Eurozone continuing to dominate investor’s minds, we will have to see how long this strong dollar trend continues; call in now for the latest news and a live quote.

Elsewhere; like the US dollar, the Japanese yen performed well today due to its safe haven status and following the Japanese central banks decision to not do anything at its monetary policy meeting. The annual budget for New Zealand was released first thing this morning; furthermore, Chinese PMI was also released. Call in now for the latest news and a live quote.

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Posted May 23rd, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2414
US$/GBP – 1.5742
CHF/GBP – 1.4910
CAN$/GBP – 1.6097
AUS$/GBP – 1.6094
ZAR/GBP – 13.154
JPY/GBP – 125.16
HKD/GBP – 12.2231
NZD/GBP – 2.0946
SEK/GBP – 11.271
AED/GBP – 5.7861
US$/EURO – 1.2672
INR/GBP – 88.12

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling came under pressure yesterday; but, recovered in the afternoon as the International Monetary Fund (IMF) said that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth. Furthermore, data released in the UK showed that inflation has fallen to a two-year low, dropping from 3.5% to 3.0%. Both this month’s Monetary Policy Committee meeting minutes and monthly retail sales data are released today with the former potentially revealing the central banks intention to increase its accommodative monetary easing. If more members have voted for further quantitative easing than expected, then sterling could come under pressure today; so, call in now for the latest news and a live quote.

The euro was struggling yesterday due to the news that the Organisation for Economic Co-operation and Development (OECD) had downgraded the growth forecasts in the EU and for Spain and Greece in particular. The EU economic summit should shed some light on any potential measures that could be implemented to fight the debt crisis and boost growth; however, with the German Chancellor Merkel and French President Hollande having very different opinions on the right cause of action, we will have to see what the outcome will be. Call in now for the latest news and a live quote.

The US dollar performed well yesterday as risk aversion drove the markets due to the OECD and IMF announcements underlining a weak global economy. Existing home sales figures released yesterday came in above markets expectations recovering from last month’s decline. New home sales figures will be the main data on the agenda and investors will look for more positive data mirroring yesterday’s release; so, call in now for a live quote and the latest news.

Elsewhere, Fitch (one of the big three credit rating agencies) downgraded Japan’s sovereign rating to A+ with a negative outlook which caused the yen to weaken against the majority of currencies despite its traditional “safe haven” status. The OECD made the suggestion that Canada should look to raise interest rates to counteract inflationary pressure. The official call rate from Japan and its monetary policy statement was announced first thing this morning; furthermore, retail sales figures from Canada are also released today. Call in now for the latest news and a live quote.

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Posted May 22nd, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2374
US$/GBP – 1.5823
CHF/GBP – 1.4869
CAN$/GBP – 1.6079
AUS$/GBP – 1.5941
ZAR/GBP – 13.021
JPY/GBP – 125.73
HKD/GBP – 12.2810
NZD/GBP – 2.0651
SEK/GBP – 11.258
AED/GBP – 5.8038
US$/EURO – 1.2782
INR/GBP – 86.98

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling was fairly range bound yesterday as very little data was released globally; but, weakened to a 2 week low against the euro. Consumer Price Index (CPI) figures released today will show the change in the price of goods and services purchased by consumers and are expected to show a drop from 3.5% to 3.1%. Furthermore, the Bank of England’s inflation letter that follows will provide further insight into the potential for more quantitative easing in the near term. Other data to be released includes the Public Sector Net Borrowing figures which show the difference in value between spending and income for public corporations, the central government, and local governments during the previous month. Call in now for the latest news and a live quote.

The euro trended weaker again yesterday as fears surrounding the future of Greece continued to dominate the minds of traders. The Spanish finance minister suggested that Spanish GDP figures in Q2 would show another contraction underlining the poor state of the economy. Consumer confidence is the main release in what is a light data for data in Europe. As per usual, the Spanish banks solvency troubles and the Greece situation will be centre stage in the financial world tomorrow as investors look to see if any sudden developments may occur. Call in now the latest news and a live quote.

The US dollar maintained its relative strength against the majority of currencies due to its “safe haven” status yesterday. A member of the Federal Open Market Committee (FOMC) suggested that further quantitative easing should still be considered and should be implemented if the economy continues to deteriorate. Existing home sales figures will be the main data on the agenda, whilst a member of the FOMC is also speaking. Call in now for a live update and a live quote.

Elsewhere, Chinese policy makers have suggested that they are willing to take further measures to boost its economy if deemed necessary. Quarterly inflation expectations from New Zealand were released first thing this morning; but, very little other data is released today. Call in now for a live price and the latest news.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

Posted May 21st, 2012 by Charles Purdy

Daily Currency Note

EURO/GBP – 1.2372
US$/GBP – 1.5803
CHF/GBP – 1.4861
CAN$/GBP – 1.6101
AUS$/GBP – 1.6061
ZAR/GBP – 13.109
JPY/GBP – 125.41
HKD/GBP – 12.2768
NZD/GBP – 2.0881
SEK/GBP – 11.261
AED/GBP – 5.8044
US$/EURO – 1.2773
INR/GBP – 86.35

For more information on Smart Currency Exchange, please call our freephone: 0808 163 0102 (+44 (0)207 898 0541 from outside the UK) or visit our website at: SmartCurrencyExchange.com

Sterling strengthened against the commodity backed currencies on Friday; but, weakened off against the majority of others as one of the members of the Monetary Policy Committee suggested that further Quantitative Easing could be required to prop up the UK economy. Revised GDP data this week will show if the UK economy is actually back in recession as many economists suspect the preliminary figures released were inaccurate. The Bank of England’s inflation letter, Monetary Policy Committee meeting minutes and monthly retail sales data could cause a lot of volatility this week by providing insight into the state of the UK’s economy and any action that could be taken in the next couple of months. Call in now for the latest news and a live quote.

The euro recovered against the majority of currencies on Friday despite the continued worry about a potential Greek exit. Manufacturing and services Purchasing Managers’ Index (PMI) data is released this week; furthermore, business climate data from Germany showing the sentiment of manufacturers, builders, wholesalers and retailers will go some way to show the state of the euro economy which is extremely fragile at present. Call in now for the latest news and a live quote.

The US dollar remained relatively strong on Friday compounded by the markets fear about the future of the euro. The Facebook stock market listing dominated the markets on Friday as the world looked to see if the largest ever internet listing could increase risk appetite in the global markets. On the data front this week, new and existing home sales figures are released, as well as durable goods orders and unemployment claims. Call in now for the latest update and a live quote.

Elsewhere, the main data released on Friday was the Canadian Consumer Price Index (CPI) figures which showed a 0.4% rise in the change in the price of goods and services purchased by consumers.  Inflation expectations and the annual budget for New Zealand is released this week, manufacturing PMI data from China, Canadian retail sales data and the official interest rate from Japan will also be announced. With a lot of data released this week, there is the potential for a lot of volatility; so, call in now for the latest news and a live quote.

To request a up-to-the minute quotation, call 0808 163 0102 or fill out our quote form:
http://www.smartcurrencyexchange.com/quote.aspx

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