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Posted October 21st, 2014 by Charles Purdy

Euro continues to hold its own

With the week’s trading opening yesterday morning, growth concerns across the Eurozone continued to weigh on the single currency, which opened slightly down on last week’s subtle gains against the US dollar. Movement yesterday was understated, however, with minimal events of note in both the domestic and global markets. The euro was particularly flat against sterling.

We expect a similar pattern over the next 24 hours, with sterling-euro traders not likely to make many moves ahead of tomorrow morning’s Bank of England (BoE) interest rate release and asset-back purchases votes. European manufacturing industry Purchasing Managers’ Index figures (measuring the industry’s performance) on Thursday will also be watched closely.

If you are looking to buy or sell euros, we suggest contacting your trader now for live rates, news and currency-purchasing strategies.

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Posted June 16th, 2014 by Charles Purdy

Euro under pressure, no respite in sight

The euro had a difficult week losing nearly two cent against sterling and just under one cent against the US dollar. Following an address by Bank of England Governor (BoE) Mark Carney on Thursday night, sterling strengthened sharply and reached 19-month highs against the euro.

This week, Tuesday’s German Economic Sentiment data looks to be the most interesting data set due out. This will provide an insight into how analysts and investors in the Eurozone’s largest economy have reacted to European Central Bank (ECB) President Mario Draghi’s actions ten days ago. Figures are forecast to show slightly higher optimism than previously; however, a figure that is much higher or lower than expected could have strong bearing on how the euro fares in the early part of this week.

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…

Posted July 18th, 2013 by Charles Purdy

Sterling benefits from BoE surprise | Smart Daily Currency Note

GBP/EUR – 1.1574 Sterling appreciated sharply yesterday morning in response to a double dose of positive data. The Monetary Policy Committee meeting minutes revealed a surprise 9-0 vote in favour of maintaining the Bank of England’s quantitative easing target instead of increasing it. This caused sterling to jump over a cent against the US dollar  Continue Reading…

Posted July 17th, 2013 by Charles Purdy

A difficult day for sterling lies ahead | Smart Daily Currency Note

GBP/EUR – 1.1491 Consumer Price Index data from the UK, which gives an indication as to the current level of inflation, came in marginally worse than expected yesterday. This impacted on sterling’s performance as traders hedged their bets in the run up to the today’s publication of the minutes from Governor Mark Carney’s inaugural Monetary  Continue Reading…

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