The euro is still under pressure. Although it gained ground against sterling it continued to lose ground against the US$ dipping below US$1.27/€1 at one stage. The problems in Greece continue with another general election having to be called. It also appears that the European Central Bank is limiting the funds being made available to certain Greek banks from The European Stability Fund which is increasing tension. So not a pretty picture and the debt crisis could well become a currency crisis. Call in now for the latest rates.

US industrial production increased 1.1% in April, the strongest months growth since December 2010. Hopefully this positive data will feed through to the employment figures especially as it is expected to continue. Housing starts also increased on an annualised basis by 2.6% which is another positive. So in comparison to the UK and Europe the US economy is moving forward which together with the US$’s safe haven status is supportive of the US$. For the latest rate get in contact now.

Elsewhere the commodity backed currencies have enjoyed a brief respite against sterling gaining ground on the back of possible further quantitative easing in the UK.

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The euro suffered further losses today as it was confirmed that Greece is set to have a new election in June after it failed to form a government despite multiple efforts. The euro started the day on a more positive note as GDP figures came in flat when a contraction was expected. This was largely to do with the much better than expected German preliminary GDP figures. Contrary to this, German ZEW economic sentiment figures came in much worse than the markets anticipated. Greece will form a temporary government today and whilst Consumer Price Index (CPI) data is released, the global focus will remain firmly on Greece; so call in now for the latest news and a live quote.

The US dollar strengthened further still with the markets extremely risk adverse due to speculation of a Greek exit from the euro. A bad day on the data front showed that retail figures had dropped by more than expected and figures depicting the change in the price of goods and services purchased by consumers came in flat. Out today, figures showing the number of new residential building permits issued during the previous month; as well as the Federal Open Market Committee (FOMC) minutes from its most recent meeting will provide some insight on the state of the world’s largest economy. Call in now for a live quote and the latest news.

Elsewhere, the Reserve Bank of Australia released its latest monetary policy minutes yesterday, stating their belief that the rate cut in May was necessary to stimulate growth. Data from Australia and Japan was released over night and manufacturing sales from Canada is released later on today. Call in now for the latest update and a live quote

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The euro performed poorly yesterday as the markets continued to speculate that Greece could soon leave the euro. The Greece political parties are still struggling to form a government which is unsettling the market. Spanish and Italian bond yields have risen once again following Moody’s comments that Spain’s new plan for banks to hold more capital will increase the debt burden on the government. On the data front, monthly industrial production came in much worse than expected dampening the negative sentiment in the region further still. French, German, Italy and euro-wide GDP figures are released today; as well as the highly influential German economic sentiment figures. With so much uncertainty in the Eurozone, the euro remains under a lot of pressure so call in now for the latest news and a live quote.

The US dollar performed relatively well yesterday driven by a risk adverse market due to the on-going developments that Europe and Greece in particular is experiencing. A busy day for data includes monthly retail sales figures and figures depicting the change in the price of goods and services purchased by consumers; so call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was one of the best performing currencies, mirroring the US dollar’s strength (whilst strengthening against the US dollar) due to its safe haven status. Retail sales figures from New Zealand were much worse than expected weakening against the majority of currencies as investors speculate that the Reserve Bank of New Zealand may look to cut interest rates in the short term. The Reserve Bank of Australia released its monetary policy meeting minutes last night; but, there is very little other data out today as the markets look towards the on-going developments in Europe and the data release in the US for influence. Call in now for a live quote and the latest news.

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The euro had a mixed day on Friday as Spain demanded that its banks hold more capital to guard against “toxic debts” whilst Greece continues to try and form a government. Spanish bond yields have risen once more as fears surrounding the country continue to escalate. Euro zone GDP data is released this week; benchmark 10 year bond auctions in Italy, Germany and Spain; and economic sentiment figures from Germany. Whilst the market will keep an eye on the data released, any news from Greece has the potential to cause a lot of volatility; so call in now for the latest news and a live quote.

The US dollar was relatively strong again on Friday driven by investors seeking a “safe haven” for their money. On the data front, figures released showed that the change in the price of finished goods and services sold by producers dropped by more than expected; but, consumer confidence was better than the markets had predicted. The main releases this week includes growth and inflation data; retail sales figures and unemployment claims; so, call in now for the latest news and a live quote.

Elsewhere, the Canadian dollar was one of the best performing currencies as unemployment data released was much better than expected. Disappointing data from China caused yet more fear in the global markets as the world’s second largest economy seems to be struggling once more. The Reserve Bank of Australia meeting minutes are released this week and any further indication that interest rates could be cut in the short term could cause the Australian dollar to weaken off again. The other main releases include inflation data from Canada, data showing the change in the price of goods and raw materials purchased by manufacturers in New Zealand and Japanese GDP figures. Call in now for the latest news and a live quote. 

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The euro suffered heavy losses this week as fears surrounding the effect the French election result may have on the makeup of the Eurozone, fears that Greece could soon leave the euro and fears over the state of the Spanish economy gripped the market. The Greek elections results caused doubts that the Greece would stay in the euro much longer as anti-austerity parties took over a great deal of power from the two main pro-bailout parties. To date, no coalition has been formed; but, another election in June is looking ever more likely which would mean that a coalition may be formed between parties who want to tear up the current austerity deal. The EU will announce its economic forecasts for the 27 member states today which could provide more volatility if the predictions are significantly different from the public’s perception. With so much uncertainty in the market, the future of the Eurozone is very unclear, call in now for the latest news and a live quote.

The US dollar was relatively strong this week as investors sought “safer havens” following the unnerving news coming from Europe. On the data front jobless claims came in as expected whilst trade balance data showed the deficit widened by more than expected. Data out today includes the change in the price of finished goods and services sold by producers and consumer sentiment figures; so, call in now for the latest news and a live quote.

Elsewhere, the commodity backed currencies were the worst performing currencies this week led by a global “flight to safety” due to the on-going developments in the Eurozone. The Japanese yen was particularly strong due to its safe haven status. The Australian dollar recovered some of its early loses on Thursday as unemployment data came in much better than expected somewhat  reducing the necessity of another interest rate cut in the short term. Chinese trade balance figures showed a sharp drop in imports stoking fears that growth is slowing in world’s second largest economy, with inflation data released early this morning. Canadian unemployment data is the other main release on the agenda; so call in now for the latest quote and the latest news.

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The euro fell to new lows against sterling and the US dollar as rumours circulated across the financial markets that the EU may withhold a Greek bailout payment due today; although, these rumours turned out to be unfounded. The German finance minister stated that it cannot force Greece to stay in the Eurozone if it does not want to causing further speculation that Greece could soon leave the Euro. Furthermore, a Greek government is still yet to be formed meaning another election in June seems ever more likely; in theory, this would mean Greece would fail to adhere to its bailout commitments and in turn default on its debt. The ECB monthly bulletin and French industrial figures will also be released; however, the focus will remain firmly on Greece; so call in now for the latest news and a live quote.

The US dollar was relatively strong again today, buoyed by its safe haven status with the Eurozone economic crisis entering a new phase. A busy day in the US includes trade balance figures, unemployment’s claims and the Chairman of the Federal Bank is also speaking. The US is still expected to lead the global economy; as a result, all releases from the US are watched closely by investors; so, call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was the stand out performer once more due to its safe haven status; whilst the commodity backed currencies struggled. A Swiss bond auction was well received offering much lower yields than the UK, the US and Europe, thus confirming its safe haven status amongst investors; we will have to see if the Swiss National Bank (SNB) can keep to its promise to uphold the €1.20/Chf1 peg which is under threat. Japanese current account and Australians unemployment figures were released late last night; whilst, Chinese and Canadian trade balance figures are also released today. Call in now for the latest update and the latest news.

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The euro traded in a fairly similar trend to sterling today, weakening against the US dollar whilst strengthening against the commodity backed currencies as market fears in Europe have calmed to an extent. Data released today showed German industrial production rose by more than expected; however, the market is still trying to absorb the potential effects that the Greek and French election result could have on the Eurozone going forwards. German and French trade balance data is released today; but, the market will pay much closer attention to the developments in Greece as the left wing Syriza bloc party try to form a coalition who would then plan to tear up the ‘EU austerity deal’; call in now for the latest news and a live quote.

The US dollar performed well today as risk aversion drove the market strengthening against the majority of currencies. Out today, the main releases on the agenda will be the crude oil inventories, the bench mark 10 year bond auction and a member of the Federal Open Market Committee (FOMC) is also speaking. Call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was strong today with investors flocking to “safe haven” currencies. The Australian and New Zealand dollar have been extremely weak today as the markets sell off positions in “riskier” currencies and Australia posted its largest trade balance deficit in more than two years. Canadian housing starts also showed an improvement this month. The Reserve Bank of New Zealand’s financial stability report was released late last night; but, very little other data is released today. Call in now for the latest news and a live quote.

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The euro has suffered heavy losses as news of election results from Greece and France was absorbed by the market. The euro weakened to a 3 and a half year low against sterling whilst retracing to a 3 and a half month low against the US dollar. News from France that Holland has become the new President, beating Sarkosy to become the first socialist leader since 1981 shook the market as the Franco-German relationship at the centre of the Eurozone appears to be breaking down. In Greece, a mass exodus away from the two main parties due to the public’s opposition to the austerity measures has caused yet more uncertainty for the troubled nation. Greece needs to outline a further 11.5 billion Euros of spending cuts if it is to receive the next tranche of its bailout package in June and unless a government is formed that will enforce these cuts Greece is destined to default. There is not a great deal of data out of Europe this week as the markets will look elsewhere for influence whilst continuing to absorb the news of election results. Call in now for a live quote and the latest update.

In the US, the non-farm pay rolls data released on Friday came in much worse than expected mirroring the ADP non-farm payrolls data released earlier in the week. With the labour market no longer appearing to drive the US economic recovery, speculation is starting to gather pace that further Quantitative Easing could be implemented. A busy week on the data front includes trade balance data, unemployment claims, PPI data and economic sentiment. With a lot of data released this week and the economic woes of Europe driving the market these is the potential for a lot of volatility so call in now for the latest news and a live quote.

Elsewhere, the Reserve Bank of Australia downgraded its growth forecasts on Friday and the markets are anticipating the potential for a further interest rate cut in June beyond the 0.5% announced last week. Moreover, Swiss retail sales figures came in much better than expected and Canadian Purchasing Managers’ Index (PMI) fell short of their predicted values on Friday. Australian building approval and retail sales figures beat expectations yesterday; but, trade balance figures, the annual budget release and unemployment data are also on the agenda this week. Canadian monthly building permits announced yesterday came in much better than expected, with trade balance figures and unemployment data released later in the week. Other data released this week includes Chinese trade balance, CPI and PPI data; the Reserve Bank of New Zealand’s financial stability report and Japanese current account figures. Call in now for the latest news and a live quote.

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The euro traded in a similar pattern to sterling this week, strengthening against the Australian and New Zealand dollar; but, weakening off against the US dollar. A raft of poor manufacturing PMI data released showed that the manufacturing output had contracted sharply and was at the weakest level in 3 years. The ECB’s press conference was surprisingly upbeat with no suggestion that it was not looking to lower interest rates and it anticipated the economy would improve gradually. With retails sales figures released today in addition to the Greek and French elections on the horizon there is the prospect for even more uncertainty in the region if weak governments are formed; so call in now for the latest news and a live update.

The US performed well this week as risk aversion was the main driver in the market. A mixed week on the data front included manufacturing PMI and unemployment claims beating expectations; but, services PMI and ADP non-farm payrolls data missing the anticipated market figures. Today’s non-farm payroll data has caused a great deal of volatility in the past and is one of the most influential pieces of monthly data released in the US; so, call in now for the latest news and a live quote.

Elsewhere, the Australian and New Zealand dollar were two of the worst performing currencies this week as the Reserve Bank of Australia announced that it had cut interest rates by 0.5% when a 0.25% cut was widely expected and New Zealand’s jobless rate figures showed a sharp jump in the first quarter. Other data out this week produced an extremely poor GDP reading from Canada showing that the economy had contracted by 0.2% when 0.2% growth had been anticipated The Reserve Bank of Australia provided its statement on monetary policy last night, Swiss Retails sales are released first thing this morning and PMI data from Canada is released this afternoon. Call in now for an update and a live quote.

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We are seeing the € at its lowest level against sterling for over two years with the euro suffering as euro zone manufacturing output contracted sharply. Manufacturing has slowed in April to its weakest level in nearly three years and German manufacturing fell for the first time since December 2011. So the lack of business confidence and the debt problems continue to adversely affect the euro. Today we have the European Central Bank meeting announcement. Given the poor state of the euro zone economy there is even talk of cutting interest rates. Please call in now for the latest update.

The US dollar gained on increased risk aversion following bad economic data at home and in the euro zone. US private employers added fewer jobs than expected in April. Tomorrow we have the hugely influential non farm payroll data so we are likely to see increased volatility while we await those figures. For the latest rates please call in now.

Elsewhere the Australian dollar continues to be under pressure following the surprise announcement of a 0.5% interest rate cut. Clearly the economy is not performing a hoped and inflation is being held within acceptable levels. However the interest rate of 3.75% is still the highest of the industrialised “G10” nations.

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