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 October 15th, 2007 by Charles Purdy

Weekly Euro rates and comments – week commencing 15th October 2007

Sterling didn’t have a great week or so losing a little bit of ground against most currencies. No clear reason why this should have been the case and I think it was more likely a situation of better news elsewhere. The UK housing market seems to be slowing which will affect consumer confidence. We also wait for the minutes of the Bank of England minutes which will, hopefully, give a clearer picture of how they view the economy, inflation and interest rates. I suppose we should be pleased that there have been no further “Northern Rocks” this week.

 

The  sits at an inter bank rate of €1.435/£1 and continues to benefit from strong economic data and not just from Germany. French and Italian industrial data has also been good. It has to be remembered that a lot of exports head east rather than west. The economies of India, Russia and China are all on the up and as such imports from Euro land are not, at this stage, being unduly influenced by what is happening to the US$/Euro exchange rate. The  is likely to have the upper hand for a while and seems like a good time to bring funds back.

 
 

Leave a Reply

Posted October 8th, 2007 by Charles Purdy

Weekly Euro rates and comments – week commencing 8th October 2007

  Sterling has had a steady week against the Euro and the US$ but lost ground against the commodity backed currencies of Canada and Australia. The Bank of England met this week and UK interest rates were kept on hold. This was as expected. The trouble with the BOE is that it takes a couple  Continue Reading…

Posted October 1st, 2007 by Charles Purdy

Weekly Euro rates and comments – week commencing 1st October 2007

    No major negative news last week to hurt sterling. In fact the Bank of England made £10bn available in short term funding and there were no takers. However the sight of queues outside of a British bank with savers desperately trying to get their money out has not inspired confidence. All in all  Continue Reading…

Posted September 24th, 2007 by Charles Purdy

Weekly Euro exchange rates and comments – week commencing 24th September 2007

    A very difficult week for sterling. The Northern Rock saga dragged on and even when the government stepped in to secure the savers funds, the U-turn by the Bank of England in pumping additional liquidity into the market led to further pressure on sterling. Some semblance of stability seems to have returned by  Continue Reading…

Posted September 20th, 2007 by Charles Purdy

Euro rates and comments – week commencing 17th September 2007

Northern Rock did for sterling. Even though Northern Bank is profitable it got caught by having short term funding to cover long term loans to clients. Given the credit crunch it found it very difficult to borrow from the inter bank market. Other banks are having to hoard cash for the huge amounts of funds  Continue Reading…

Posted September 10th, 2007 by Charles Purdy

Weekly Euro rates and comments for the week commencing 10th September

We still live in interesting times. The banks are very cautious about lending to each other as they are still unsure where the losses relating to the bad US home loans finally end up. Also the banks are having to hoard cash as they are likely to find it very difficult to offload all the  Continue Reading…

Posted September 3rd, 2007 by Charles Purdy

Weekly Euro Rates and Comments – Week Commencing 3rd September 2007

The markets became a bit calmer in the last few days as the news flow was less scary. But we shouldn’t get complacent as I suspect there are still significant problems out there just waiting to see the light of day and when they do the markets will move very very quickly. Debt funding is  Continue Reading…

Posted August 28th, 2007 by Charles Purdy

Weekly Euro Rates and Comments – Week Commencing 27th August 2007

Sterling had a better week. The markets have regained some equilibrium following the Feds move to reduce their lending rate to financial institutions. Also the ECB and the Fed continue to make available liquidity as and when required and in whatever size required. Any economic data released recently seems to have ignored. However, sterling will  Continue Reading…

Posted August 18th, 2007 by Charles Purdy

Weekly Euro rates and comments – Week commencing 20th August 2007

  Sterling continues to be under pressure. The liquidity crisis is having far reaching consequences. The flight to safety has focused on the Yen, the Swiss franc and the US$ in the form of treasury bonds. UK news focussed on the Consumer Price Inflation figure for July of 1.9% being for the first time in  Continue Reading…

Posted August 12th, 2007 by Charles Purdy

Weekly Euro Rates and Comments – Week Commencing 13th August 2007

Sterling had a strange start to last week losing a cent and half against the Euro very first thing Monday morning. The explanations as to why the sudden movement happened have been somewhat limited especially given the lack of sterling negative news over the weekend. At the same time, there was a rapid decline in  Continue Reading…

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