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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 from Friday’s Public Sector Net Borrowing data that revealed a slight reduction in the deficit during the month of June. Furthermore, a number of key figures predict that key UK GDP data due this Thursday will show an increase in growth during the second quarter giving performance an extra boost. Looking ahead to this week, the aforementioned GDP figures are likely to have a substantial impact upon sterling strength should they differ from last week’s predictions. Outside of this, there is not a huge amount of data being released this week with the potential to impact performance. Mortgage approval data – a leading indicator of demand for housing – has the potential to have some influence when it is released on Tuesday, but the GDP data on Thursday along with on-going speculation on future monetary policy are likely to fuel market movement. Call in now to track sterling’s performance this week.

The Euro stayed fairly range bound on Friday with no data of high impact being released. Although German Chancellor Merkel gave positive vibes whilst discussing the economy in Germany and the euro-zone, it had a muted effect on the markets. Perhaps with her looking for re-election in September, it was expected that she would remain optimistic. We have a quiet day again for the euro today, but with French and Germany manufacturing PMI data on Wednesday and Germanys Business Climate survey on Thursday, any unexpected data is likely to cause volatility for the currency. There are also increasing concerns for southern state debts and additional funding requirements. Portugal, Cyprus and Greece seem to be at the top of this list and could significantly increase instability for the Eurozone. So call your trade for the latest rates and updates.

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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…

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  Continue Reading…

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 12th, 2013 by Charles Purdy

Difficult week for sterling, will it continue next week? | Smart Daily Currency Note

Last week            This week (GBP/EUR – 1.1757)   GBP/EUR    1.1591 Sterling was struggling as it began the week still looming in the shadow of new Governor Carney’s comments. Things went from bad to worse though, as poor manufacturing and industrial production figures on Tuesday saw sterling’s value fall by a further cent to 3 year lows  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 9th, 2013 by Charles Purdy

Is sterling set for further weakness? | Smart Daily Currency Note

GBP/EUR – 1.1622 After being pushed against the ropes overnight on Sunday – dropping to the lowest it has been since early March – sterling gained a little ground back against the dollar yesterday, pushing back above 1.49 again. The International Monetary Fund releases its World Economic Outlook today, with analysts saying it is likely  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…

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