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Posted July 16th, 2013 by Charles Purdy

Sterling still feeling the heat | Smart Daily Currency Note

GBP/EUR – 1.155

Sterling experienced some movement yesterday, losing some ground against the US dollar during the morning, but largely making good those losses in the afternoon. There was also little overall movement against the euro as data released from Smart Currency partner Rightmove Plc showed that asking prices for UK housing had risen again to a record high. The most imposing event on the horizon for sterling is the publication of the minutes of the Bank of England’s most recent policy meeting, which may give traders cause to react as everyone looks to get the measure of Mark Carney. Should it transpire that Carney voted in favour of further quantitative easing then we are likely to see a sharp decline for sterling. In the meantime, today sees the release of Consumer Price Index data, which is the most important indication of the current level of inflation in the UK. Higher than expected inflation may lend some support to sterling ahead of the release of the policy meeting minutes tomorrow, whilst lower figures would have an inverse effect. Call in now for a live rate from your trader and to keep pace with developments.

Yesterday saw little in the way of influential data emanating from the Eurozone and its performance was largely defined by events elsewhere. Little net movement was seen against sterling or the US dollar by the close of trading in London. Today we can look to German economic sentiment data to impact upon performance as traders looks for signs of optimism from investors and analysts in Europe’s largest economy. Today also sees the release of Core Consumer Price Index and trade balance data from the Eurozone, but it is Germany’s economic sentiment data that is likely to play the biggest role. Call in now to track its effect and to receive a live rate.

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Posted July 15th, 2013 by Charles Purdy

Sterling slips as the UK awaits the BOE meeting minutes | Smart Daily Currency Note

GBP/EUR – 1.1568 Sterling slipped away a little on Friday, breaking through 1.51 and 1.16 against the US dollar and euro respectively. This week is a lot livelier on the news front than last with influential releases coming most days. Tomorrow sees annual CPI figures as well as other inflation data. On Wednesday markets get  Continue Reading…

Posted July 11th, 2013 by Charles Purdy

US dollar weakens on Central Bank comments | Smart Daily Currency Note

GBP/EUR – 1.1556 A fairly steady day for sterling yesterday as markets caught their breath after an eventful first half of the week. Sterling gradually won back a cent from overnight lows against the US dollar, as markets nervously took position ahead of the release of the release of Federal Open Market Committee (FOMC) meeting  Continue Reading…

Posted July 8th, 2013 by Charles Purdy

Sterling suffering badly as temperatures soar | Smart Daily Currency Note

GBP/EUR – 1.1599 A very tough end to the week for sterling, struggling as the US dollar stole the limelight. An ailing sterling dropped below 1.49 and 1.16 against the US dollar and euro respectively on Friday and after a fantastic weekend for British sport, we will have to see how the British currency fairs  Continue Reading…

Posted July 5th, 2013 by Charles Purdy

New BoE Governor speaks, sterling plummets | Smart Daily Currency Note

GBP/EUR – 1.1668 Yesterday’s expression of the day was forward guidance – indication from an interventionist central bank as to what they are going to do with interest rates into the future. In his first act at Governor of the Bank of England, Mark Carney issued a surprise statement yesterday which expressed the Bank’s concern  Continue Reading…

Posted July 4th, 2013 by Charles Purdy

Good services data boosts sterling | Smart Daily Currency Note

GBP/EUR    1.1731 The strongest day in many weeks for sterling, as Services PMI figures blew forecasts out of the water to post a sixth consecutive month of better-than-expected growth. The sector, which makes up 75% of UK GDP, is performing better than any other area and sterling climbed over a cent in the two hours  Continue Reading…

Posted July 3rd, 2013 by Charles Purdy

Sterling continues to lose ground against the dollar | Smart Daily Currency Note

GBP/EUR – 1.1668 A strong construction sector did not make for a strong sterling yesterday. While Construction Purchase Manager Index (PMI) figures were the best they have been since May 2012, sterling still lost ground against the US dollar – pushing as low as 1.5150 against a bright US dollar in the early afternoon. Today  Continue Reading…

Posted July 1st, 2013 by Charles Purdy

Difficult week for sterling as Carney starts at the BoE | Smart Daily Currency Note

GBP/EUR – 1.1663 Sterling had a difficult week last week and continued to lose ground on Friday in spite of any significant data being released. This week we have a whole raft of UK data released, a Bank of England meeting and the arrival of the Mark Carney, quoted on the radio this morning as  Continue Reading…

Posted June 28th, 2013 by Charles Purdy

Sterling continues to fall | Smart Daily Currency Note

(Last week)    This week (GBP/EUR – 1.1719)    GBP/EUR – 1.1687 On the whole a disappointing week for sterling – strong retail sales figures early in the week were encouraging signs for the British economy, giving sterling a short boost, but it has slipped away since. Key to driving this decline was two further members of  Continue Reading…

Posted June 27th, 2013 by Charles Purdy

The US dollar continues to strengthen | Smart Daily Currency Note

GBP/EUR – 1.1757 Sterling had a poor day yesterday, losing considerable ground to the US dollar, and only just holding its own against a weak euro. The drop came as one of the members of the monetary policy committee called for a looser monetary policy to stimulate the economy. Current account figures (the difference in  Continue Reading…

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