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Posted April 17th, 2015 by Charles Purdy

Euro steady despite expectations of a Greek default

All things being equal it was probably a good week for the euro as the situation in Greece escalated. Economic data seems to be improving as the weak euro is boosting exports and the European Central Bank made no changes on Wednesday to their monetary policy.

Yesterday the yield on 10-year Greek bonds took a jump, and the yield on two-year bonds also spiked, as concerns begin to grow that Athens is no closer to reaching an agreement on their bailout with any of its creditors, heightening the expectation that Greece could be forced out of the euro zone.

Today we have the Consumer Price Index – a measure of inflation – out at 10am as the main release for the day, following balance of payments released earlier on in the day.

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 April 7th, 2015 by Charles Purdy

Euro still “controlled” by the Greek debt problem

Greece and its debt problems continue to be the centre of attention. On the whole the rhetoric is positive but until all is agreed it is very difficult to predict the actual outcome. Otherwise the euro enjoyed a steady week last week with no major movements.

Today we have the release of the March Eurozone Purchasing Managers Index for the Service Sector which is expected to hold steady. Similar to the UK we then have a raft of data covering output for industry and manufacturing for the Eurozone released towards the end of the week. If the Greek debt problem doesn’t blow we could see some confidence return to the Eurozone economy and possibly the euro.

Posted March 27th, 2015 by Charles Purdy

The Euro has an okay week

On Thursday, the Euro fell against a basket of currencies. European Central Bank (ECB) President Mario Draghi said the effect of the bond buying programme has been ‘significant’, and stated that the fall in long term interest rates have weakened the currency.

However, over the course of the week it has been positive for the euro as it strengthened universally. We seem to be a step closer to the Greek debt problem being sorted out (for the time being) and economic data out of the Eurozone has been positive and in some cases very positive. The important point to remember though is the ECB still wants the euro to be weak to boost export competiveness and when they want something they tend to get it.

Posted March 20th, 2015 by Charles Purdy

Somehow the euro has a good week!

The euro seemed to enjoy a good week especially against sterling, pulling back to well below the 1.40 level. As did sterling, the euro saw some rapid movement against the US dollar following the Federal Reserve meeting on Wednesday.
Although progress seems to be being made on the Greek debt there are always warning signs around the corner as the European Parliament President Martin Schulz warned that Greece’s financial situation was ‘dangerous’, with debt payments looming and still no deal agreed; only extended. There is European Central Bank (ECB) net investment flow data out at 10am today; otherwise, this day posts to be another quiet day in terms of euro data releases.

Posted June 25th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 25th June 2010 EUR/GBP – 1.210 Sterling extended gains yesterday and hit the highest level since November 2008 against the euro after renewed sovereign debt fears in Greece contrasted sharply with a new found optimism that the UK budget cuts will rein in the country’s record deficit. Following the new  Continue Reading…

Posted May 14th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 14th May 2010 EUR/GBP – 1.165 Sterling fell yesterday against the US dollar and euro as the UK’s trade balance widened by more than expected. In March, the UK imported £6.3bn more than it exported and in April this gap increased by more than £1bn to £7.5bn. Exports remained steady  Continue Reading…

Posted May 13th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 13th May 2010 EUR/GBP – 1.174 After a strong start to the day following the formation of a new government, sterling fell against the US dollar and euro. The pound hit a low of $1.4821/ £1 after opening above $1.5040/ £1. Against the euro, sterling fell from a high of  Continue Reading…

Posted May 12th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 12th May 2010EUR/GBP – 1.182 Sterling rose yesterday as Gordon Brown tendered his resignation from office and David Cameron became our new Prime Minister, agreeing a coalition with the Liberal Democrats that sees them part of government for the first time in 70 years. After a volatile day, sterling recovered  Continue Reading…

Posted May 11th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 11th May 2010 EUR/GBP – 1.165 Sterling gained against the US dollar throughout most of yesterday, hitting a high of $1.5054/ £1 as speculation over a deal between the Conservatives and Liberal Democrats helped calm market concerns over the political situation in the UK. Despite being up nearly 1.7% against  Continue Reading…

Posted May 10th, 2010 by Charles Purdy

EUR/GBP Rate & Comments for 10th May 2010 EUR/GBP – 1.143 After a turbulent week for the pound last week, and the most closely fought election for nearly forty years, we are still in store for a turbulent week on the foreign exchange markets. Sterling recovered marginally from Friday morning’s lows against the US dollar  Continue Reading…

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