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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. […]

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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 […]

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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.

Posted November 24th, 2015 by Charles Purdy

Encouraging Monday for the euro

The euro had a much improved day on Monday after it managed to trim some of its losses against sterling and the US dollar, bouncing back from after multi-month lows against its major trading peers. The single currency improved initially when data showing that growth in the Eurozone’s private sector picked up to the best rate since May 2011. It was also reported that the Eurozone Purchasing Managers’ Index (PMI rose to 54.4 from 53.9 in October. However, it wasn’t all good news as growth in France’s private sector fell to the lowest level in three months, with the service sector activity in particular hit by the terror attacks in Paris.

Posted November 23rd, 2015 by Charles Purdy

A busier week for Eurozone data which could affect the euro

It was a mixed end to the week for the euro, as the single currency strengthened very slightly against sterling, but weakened against the US dollar. Most of this was down to the European Central Bank (ECB) President Mario Draghi reiterating that the central bank will do “what is necessary to ensure that inflation returns rapidly towards its goal of just under 2%”. It was also a mixed result for data last week, with Producer Price Index (PPI) data coming out a little worse than expected for Germany at -0.4%, while Consumer Confidence figures vastly exceeded expectation and ticked up to -6, an impressive figure, bearing in mind the forecast was -7.5.

Posted November 20th, 2015 by Charles Purdy

Euro close to an eight year low against sterling

Yesterday, the euro received its biggest news all week as the minutes of the European Central Bank (ECB) October meeting confirmed that there was a significant risk that it will once again miss its inflation target. After struggling against both sterli…

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