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Posted July 31st, 2013 by Charles Purdy

Positive economic data support the Euro | 31/07/2013

A further batch of positive data out of the euro zone meant that the euro logged another generally positive day, adding to the gentle momentum that the 17-nation currency has been building. Data released yesterday showed consumer confidence across the euro zone hit the highest levels in 15 months in July, reaching a rate of 92.5, up from 91.3 in June. The most notable results were seen in Germany, where levels were at the highest seen since September 2007. This continuing evidence suggests that the worst of the European recession has passed and is henceforth taking pressure of the European Central Bank to increase its easing policies. Today we have the release of monthly European inflation data, as well as unemployment statistics. Although the data is important, markets will have one eye firmly on Thursdays ECB meeting. Get in touch for the latest euro rates.

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Posted July 30th, 2013 by Charles Purdy

Euro remains tentative ahead of Thursdays rate decision | 30/07/2013

A quiet day for the euro yesterday. Markets are tentative ahead of the Central Bank’s rate decision on Thursday, and with no significant releases of data, the euro held ground against the majority of its peers. It lost ground against the US dollar, however, as markets speculate that the Federal Reserve will possibly announce plans to reduce stimulus later this week. Today should see a little more movement from the euro, with retail data coming out of German acting as a good inflation indicator, and quarterly GDP data coming out of Spain. However, expect markets to continue on a cautious note as we look towards Thursday’s rate decision.

Posted July 29th, 2013 by Charles Purdy

A growth of confidence for the Euro? | 29/07/2013

The euro ended last week on a high, holding the gains it had achieved against its main trading partners earlier in the week. The euro’s performance on Friday was unaffected by slightly lower-than-forecast German import price data which showed that prices had fallen by 0.8% from May to June. Following some slightly more positive data emanating from Europe last week which caused the euro to gather a head of steam, the general sentiment is a tentative growth of confidence in the market but it will be looking towards the the European Central Bank’s (ECB) monthly decision on monetary policy on Thursday. Before then, we have unemployment data out of Germany, and manufacturing data out of Spain and Italy. Call in for news and live rates on the euro.

Posted July 26th, 2013 by Charles Purdy

Eurozone set for recovery? | 26/07/2013

A reasonable strong week for the euro was topped off yesterday when a survey showed better-than-expected business confidence coming out of Germany. Earlier in the week we had strong manufacturing and consumer confidence data coming out of the 17-member state. All these factors are suggestions that the Eurozone may be on course for a slight recovery in the second half of the year, and confidence in the market is quietly building. These are still early days, however, and there is every possibility that the region’s six-quarter recession will continue and drag into a seventh. Today is fairly quiet data-wise in the Eurozone, with the only event of note is the import price statistics coming out of Germany. Get in touch for live euro rates.

Posted July 26th, 2013 by Charles Purdy

Mixed fortunes for sterling | Smart Daily Currency Note

Last week            This week (GBP/EUR – 1.1591)   GBP/EUR – 1.1583 After maintaining an upward trajectory for most of last week, sterling experienced more mixed fortunes this week. The pound performed well from Monday as Prime Minister David Cameron announced that improving economic conditions may allow the Coalition Government to implement tax cuts in the near  Continue Reading…

Posted July 25th, 2013 by Charles Purdy

Will today’s Growth figures affect sterling? | Smart Daily Currency Note

GBP/EUR – 1.1614 Sterling showed signs of weakness yesterday morning but largely recovered during the afternoon, until it fell sharply against the US dollar in the evening. The weakness experienced earlier in the day was seen in response to speculation by Goldman Sachs that there is a 50% chance that the Monetary Policy Committee will  Continue Reading…

Posted July 24th, 2013 by Charles Purdy

Sterling steady as we await UK Growth data tomorrow | Smart Daily Currency Note

GBP/EUR – 1.1642 Sterling traded within a narrower range yesterday as we saw a decrease in volatility across the currency markets. The pound has made reasonably consistent gains since last week’s Monetary Policy Committee meeting minutes were released. A report from the British Bankers’ Association released yesterday morning showed that UK mortgage approvals increased during  Continue Reading…

Posted July 23rd, 2013 by Charles Purdy

Will sterling benefit from the birth of a Royal baby? | Smart Daily Currency Note

GBP/EUR – 1.1645 Even before the announcement of a new Royal baby and the third in line to the throne, Sterling continued its upward trajectory yesterday as hopes for a sustainable economic recovery in the UK increased ahead of Thursday’s second quarter Growth figures. The pound made gains against the majority of its major trading  Continue Reading…

Posted July 22nd, 2013 by Charles Purdy

Will Sterling’s good run continue? | Smart Daily Currency Note

GBP/EUR – 1.1610 Sterling ended last week on a largely positive note having risen for four days straight against the US dollar and made notable gains against the euro. Sterling benefited from the Monetary Policy Committee minutes released on Wednesday which showed all nine members voting against increasing quantitative easing. Sterling also received some support  Continue Reading…

Posted July 19th, 2013 by Charles Purdy

Another roller coaster week for sterling | Smart Daily Currency Note

Last week                  This week (GBP/EUR – 1.1591)   GBP/EUR – 1.1591 Sterling had a roller coaster week dropping to  a four month low against the euro and struggling against the dollar earlier this week as weaker than expected inflation data appeared to give the Bank of England more licence to keep monetary policy  Continue Reading…

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