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Posted November 30th, 2015 by Charles Purdy

ECB in the spotlight as euro struggles

The euro re-approached its recent seven-month lows against the US dollar on Friday, as expectations for a December rate hike for the US comes into real focus. In terms of data it was a better day for the single currency as German consumer confidence data came out slightly better at 9.3, beating the forecast of 9.2. Consumer confidence for the Eurozone was much stronger than expected, coming out at -5.9, which was a vast improvement from the estimated figure of -7.7.
Monday could be a positive start for the euro as retails growth sales data is expected to increase from 0% up to 0.5%.

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Posted November 30th, 2015 by Charles Purdy

Will sterling benefit from UK data releases?

Sterling weakened against both the euro and US dollar on Friday as the latest estimate of UK growth showed 0.5% economic growth throughout the previous quarter. Sterling fell close to a seven-month low against the US dollar. A quiet start to this week sees no major data releases from the UK until tomorrow. Results of […]

The post Will sterling benefit from UK data releases? appeared first on Smart Currency Business.

Posted November 30th, 2015 by Charles Purdy

ECB in the spotlight as euro struggles

The euro re-approached its recent seven-month lows against the US dollar on Friday, as expectations for a December rate hike for the US comes into real focus. In terms of data it was a better day for the single currency as German consumer confidence data came out slightly better at 9.3, beating the forecast of […]

The post ECB in the spotlight as euro struggles appeared first on Smart Currency Business.

Posted November 30th, 2015 by Charles Purdy

Busy week for the US economy as Yellen takes centre stage

It was a quiet day for the US dollar on Friday, with no data releases. This week, however, we can expect quite a busy week with key data releases due. Tuesday will see the release of the ISM Manufacturing Purchasing Managers’ Indices (PMIs), which are expected to show continued growth from the recently underperforming sector. […]

The post Busy week for the US economy as Yellen takes centre stage appeared first on Smart Currency Business.

Posted November 30th, 2015 by Charles Purdy

Canadian economy the busiest of the bunch

After a rather boring week with limited economic data, this week’s prospects offer a lot more opportunity for movements in other currency markets. The busiest of the bunch is the Canadian economy, which will release its growth figures on Tuesday – these are expected to remain at last month’s levels of 0.1%. On Friday we […]

The post Canadian economy the busiest of the bunch appeared first on Smart Currency Business.

Posted November 27th, 2015 by Charles Purdy

Tough week for the euro

It has been another fairly tough week for the euro – it started off strengthening against sterling but gains were erased as the week went on. We may see more movement as we move into next week, where we are likely to see the European Central Bank (ECB) loosen monetary policy further. Money supply data on Thursday came out much better than expected but this was only a short-term gain as again sentiment overrode any positive movements for the single currency as the day wore on.

With data out today from the Eurozone there is a chance to finally recover from a disappointing week.

Posted November 27th, 2015 by Charles Purdy

UK growth estimates under the spotlight today

Despite a poor start to the week, sterling recovered throughout the latter stages to head into Friday trading only slightly lower against the euro and US dollar when compared to Monday’s opening exchange rate. With no major economic data released from the UK throughout the week, movement has been largely dictated by rhetoric; the Chancellor […]

The post UK growth estimates under the spotlight today appeared first on Smart Currency Business.

Posted November 27th, 2015 by Charles Purdy

Tough week for the euro

It has been another fairly tough week for the euro – it started off strengthening against sterling but gains were erased as the week went on. We may see more movement as we move into next week, where we are likely to see the European Central Bank (ECB) loosen monetary policy further. Money supply data […]

The post Tough week for the euro appeared first on Smart Currency Business.

Posted November 26th, 2015 by Charles Purdy

Euro weakens to fresh lows

The euro managed to fall to fresh lows against the US dollar on Wednesday, while it also struggled throughout the day against sterling. It reached the lowest point in over seven months against the US dollar as strong US data was released, which then ad…

Posted November 25th, 2015 by Charles Purdy

Boost for euro

Tuesday was an encouraging for the euro as it improved significantly against sterling and ticked up slightly against it major trading partner the US dollar. The main news came from Germany where the IFO business survey reading came out at 109 in October, beating forecasts for 108.2 – this was the highest figure in 17 months and provided a great deal of support for the single currency. Against sterling the euro strengthened almost 1%, but this was not just the news from Germany that did this, but also due to Bank of England (BoE) Governor Mark Carney delivering an inflation report in the UK that down played increasing UK interest rates.

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