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Posted December 31st, 2012 by Charles Purdy

Smart Daily Currency Note | Low volumes, lots of data, plenty of opportunity for rapid changes in rates

GBP/EUR – 1.2246

Sterling enjoyed a more positive day on Friday, recovering some of the losses seen earlier in the week. Despite Tuesdays bank holiday for New Year’s Day, there is quite a lot of data released this week including the influential Purchasing Managers’ Index (PMI) figures which come out from the manufacturing, construction and services sectors on consecutive days. We also have housing data, information on the supply of money and the net lending to individuals; furthermore, the Bank of England will release its findings from a survey regarding the current credit conditions in the UK. Trading volumes across the global markets will remain extremely low with bank holidays from different nations spread across the first 4 days of the week; so, expect volatility to remain high and price moves to be over-exaggerated. Call in now to speak to your trader.

The euro struggled on Friday as preliminary readings suggest that the Eurozone economy contracted in the final quarter of 2012, this would be the third quarter in a row. The 10-year Italian bond auction was fairly well received, with yields only slightly higher on the benchmark note. Other data released showed that French consumer spending grew by 0.2% when a flat 0.0% reading had been anticipated; however, French third quarter GDP estimates are down to 0.1% from the 0.2% estimate in November. It should be a quiet start to the week for Europe; but, later on we have some key data released including euro area wide services and manufacturing PMI figures, unemployment data from a number of counties including Spain, inflation data and German retail sales figures will also be announced. Get in touch now to get the most up to date price.

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Posted December 28th, 2012 by Charles Purdy

Smart Daily Currency Note | Christmas cheer fails to lift sterling

GBP/EUR – 1.2160 Christmas cheer has done little to help sterling this week, enduring a torrid time against the euro dropping to a 8 month low of 1.2160. Sterling had been fairly range bound against the US dollar until yesterday, where it peaked at 1.6200 before dropping sharply to 1.6060. Data released yesterday showed that  Continue Reading…

Posted December 24th, 2012 by Charles Purdy

Smart Daily Currency Note | A day of two halves for sterling at the end of last week

GBP/EUR – 1.2255 It was a day of two halves for sterling on Friday, remaining fairly range bound against most of its major peers until the early afternoon when increased levels of risk-aversion saw a significant shift in favour of the traditional safe haven currencies. Increasing concern that deficit-reduction talks are not doing enough to  Continue Reading…

Posted December 21st, 2012 by Charles Purdy

Smart Daily Currency Note | Christmas spirit favours the euro, will this last?

GBP/EUR – 1.2308 Overall it has been a reasonable week for sterling. Although it touched a two month low of 1.224 against the euro, it has made strong gains against other major currencies. Wednesday saw sterling buy more dollar than at any point since September, hitting 1.6307, although this can probably be put down to  Continue Reading…

Posted December 20th, 2012 by Charles Purdy

Smart Daily Currency Note | Euro strengthens, US dollar weakens

GBP/EUR – 1.2284 During the course of yesterday sterling reached a three month high against the US dollar peaking at 1.6307; but, dropped to a two month low of 1.2240 against the euro. The Monetary Policy Committee meeting minutes revealed the members voted 8-1 against an increase in quantitative easing with one member voting for  Continue Reading…

Posted December 19th, 2012 by Charles Purdy

Smart Daily Currency Note | The US dollar continues to weaken

GBP/EUR – 1.2284 It was a somewhat mixed day for sterling yesterday as risk appetite was the main driver in the market. Sterling was slightly down against the euro and Swiss franc, but renewed confidence that a deal would be struck regarding the so-called fiscal cliff in the US drove sterling towards a high point  Continue Reading…

Posted December 18th, 2012 by Charles Purdy

Smart Daily Currency Note | Inflation data released today, how will it affect sterling?

GBP/EUR – 1.2303 In a day that was quiet on data from the UK, sterling climbed gently against most of its major pairs reaching a two month high of 1.62 against the US dollar. Against the euro it stayed very close to 1.23 for most of the day. Today, however, is likely to see a  Continue Reading…

Posted December 17th, 2012 by Charles Purdy

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

GBP/EUR – 1.2298 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  Continue Reading…

Posted December 14th, 2012 by Charles Purdy

Smart Currency Rates and Comments 14th December 2012 – The euro finishes the week on a high

GBP/EUR – 1.2303 A difficult week for sterling as it weakened off against the euro and the higher yielding currencies. It did strengthen against the US dollar and Japanese yen as risk appetite was a key driver in the market. A raft of better than expected employment data did help support sterling. Data released showed  Continue Reading…

Posted December 13th, 2012 by Charles Purdy

Smart Currency Rates and Comments 13th December 2012 – The Euro in the ascendancy again

GBP/EUR – 1.2328 Markets seem to have forgotten about the threat of interest rate cuts in the euro zone as the euro had a good day. Sterling on the other hand had a mixed day yesterday, losing half a cent against the euro whilst reaching a 6 week high of 1.6170 against the US dollar  Continue Reading…

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