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Posted September 14th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 14th September 2012

This week                     (Last week)
GBP/EUR -   1.2410    (GBP/EUR – 1.2604)

 

Sterling has had a mixed week as the markets were moved by shifts in risk sentiment due to key events announced in the US and Europe. Sterling has been particularly strong against the US dollar briefly hitting 1.62 overnight (a 4 month high); whilst weakening towards 1.24 this morning against the euro (a 2 month low) as risk appetite drove the market. Labour data released this week revealed that 15,000  less people are claiming unemployment benefits compared to last month; however, the overall unemployment rate has risen by 0.1%. There is very little data out of the UK today; so, expect sterling to trade on the side-lines and to continue to be influenced from news out of the US and Europe. Call in now for the latest rates.

The euro performed well this week following the news that the German Federal Constitutional Court had ruled in favour of the €500 billion support fund known as the European Stability Mechanism (ESM), despite conditions being made stating that the Germans were only liable to €190 billion. More positivity came as the Dutch General Elections revealed voters in the Netherlands backed two pro-European parties which should create a little more stability for the single currency. Today, inflation data will be released in the morning and then the EU finance ministers will meet to discuss the state of Europe and the Eurozone in general. Whilst these meetings are closed to the public we often hear leaked information which can influence the markets. Call in now for the latest news

 

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Posted September 13th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 13th September 2012

GBP/EUR – 1.2466   Sterling had a good day against the US dollar yesterday reaching 1.6125 and lost a little bit of ground against the euro following news surrounding the European Stability Mechanism (ESM) from Germany and in anticipation of today’s Federal Open Market Committee (FOMC) announcement. Data released yesterday showed that the number of  Continue Reading…

Posted September 12th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 12th September 2012

GBP/EUR – 1.2488 Sterling had a poor day yesterday weakening against the majority of currencies despite better than expected trade balance data being released. Sterling did strengthen to fresh highs of 1.6080 against the US dollar over worries of further quantitative easing in the US. Today, the main release from the UK will be the  Continue Reading…

Posted September 11th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 11th September 2012

GBP/EUR – 1.2511 Sterling remained fairly flat yesterday against the majority of currencies as very little significant data was released globally and the markets await key events later on in the week. Trade balance data released today will be the main release on the agenda, whilst one of the members of the Bank of England  Continue Reading…

Posted September 10th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 10th September 2012

GBP/EUR – 1.2504 Sterling struggled against the majority of currencies on Friday; but, broke through the 1.60 level against the US dollar for the first time since May as speculation mounted that the US Federal bank may look to increase quantitative easing in the near future. Industrial production and manufacturing figures released on Friday were  Continue Reading…

Posted September 7th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 7th September 2012

GBP/EUR – 1.2604 Sterling continued its strong run of form against the US dollar this week hitting a 4 month high of 1.5940 yesterday whilst staying relatively range bound against the euro. Stronger than expected services and manufacturing Purchasers Managers Index (PMI) data released this week has helped sterling’s strength and overshadowed the slightly worse  Continue Reading…

Posted September 6th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 6th September 2012

GBP/EUR – 1.2608 Sterling continued to perform fairly well yesterday hitting a 4 month high against the US dollar following the positive Services Purchasers Managers Index (PMI) which grew at its fastest pace for five months. The Bank of England’s decision on interest rates and quantitative easing is the main release from the UK today  Continue Reading…

Posted September 5th, 2012 by Charles Purdy

GBP/EUR Rate & Comments for 5th September 2012

GBP/EUR – 1.2646 Sterling hit fresh highs against the US dollar yesterday breaking though the 1.59 mark for only the second time in 4 months before weakening off after the Construction Purchasers Managers Index (PMI) missed market estimates. The index showed that the construction sector was contracting when a slight expansion had been initially predicted.  Continue Reading…

Posted September 4th, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 4th September 2012

EURO/GBP – 1.2598 Sterling had a mixed day yesterday following much better than expected manufacturing data with the Purchasers Managers Index (PMI) showing a figure of 49.5 when only 46.1 had been anticipated. Whilst this release is above market expectations, the figures still show that the manufacturing industry is contracting, albeit by less than it  Continue Reading…

Posted September 3rd, 2012 by Charles Purdy

EURO/GBP Rate & Comments for 3rd September 2012

EURO/GBP – 1.2610 Sterling had a relatively strong day on Friday as the markets looked towards the annual Jackson Hole symposium and data released showed the change in house prices had increased by much more than expected reaching 1.3% from -0.8% last month. Manufacturing, construction and services Purchasers Managers Index (PMI) figures are released throughout  Continue Reading…

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