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Posted January 31st, 2013 by Charles Purdy

US growth stumbles, will this help sterling? | Smart Daily Currency Note

GBP/USD – 1.5828

Sterling had a mixed day yesterday amid a number of positive developments released from the UK; but, still fell to 1.1630 against the euro at one stage. Mortgage approvals increased by more than forecast to the highest level since January 2012 showing that Bank of England scheme may have started to boost the "flow of credit" and support to the economy. Net Consumer Credit also expanded over the December period which was the largest advance in two years. The recent statements from the incoming Bank of England Governor implies there is scope to do more to support the economy with different types of stimulus and this is keeping sterling pressured, in addition to the uncertainty of Britain staying in the European Union. Today is a quiet one for data out of the UK, all eyes are will be on Fridays release of Manufacturing data. Markets will look elsewhere for influence today however, so call in now for the latest news and updates.

Yesterday was a difficult day for the US dollar, as a combination of increasing global economic confidence and considerably worse than expected US GDP data dampened demand for the traditionally safe-haven asset. News that fourth quarter GDP had shown a contraction of 0.1% – dramatically below last quarter’s 3.1% growth and predictions of 1.1% growth – saw the dollar lose significant ground versus its major peers. Continued risk appetite from the Eurozone saw the US currency fall to its lowest level since November 2011 versus the euro, whilst also paring its recent gains versus the Japanese yen. Yesterday also saw the release of key employment data which came out better than forecast and indicates that Fridays more influential reading will also be positive, however it was not enough to restore full confidence in the US economy as expectations remain rife that the Federal reserve is likely to commit to further monetary easing. Today sees the release of the weekly unemployment claims, so call in now for the latest news and to get a live price from your trader.

Get in touch now for a live price and to see if the US can avoid tumbling off the so-called fiscal cliff. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website

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Posted January 30th, 2013 by Charles Purdy

Respite for sterling, will it be all too brief? | Smart Daily Currency Note

GBP/USD – 1.5753 Yesterday proved to be a stronger day for sterling than we have seen recently, managing to halt its continued declines versus many of its major trading peers. News that one of the Bank of England’s policy makers suggested that the UK’s economic growth is likely to grow between 2 to 2.5 per  Continue Reading…

Posted January 29th, 2013 by Charles Purdy

No respite for sterling as it continues to weaken | Smart Daily Currency Note

GBP/USD – 1.5706 It was once more a disappointing day for sterling yesterday, continuing its dramatic decline of last week versus its major trading partners.  Over the weekend, the incoming Bank of England Governor stated that he felt that there was room to look at further monetary easing if the UK’s economy continues to struggle  Continue Reading…

Posted January 28th, 2013 by Charles Purdy

Sterling still friendless, still losing ground | Smart Daily Currency Note

GBP/USD – 1.5712 January, so far, has been a terrible month for sterling and with limited data out this week to reverse this trend it looks set to continue. It was, as many had anticipated, a difficult morning for sterling on Friday as worse than forecast GDP data saw the currency loose further ground against  Continue Reading…

Posted January 25th, 2013 by Charles Purdy

No respite and no support for sterling as it continues to weaken | Smart Daily Currency Note

GBP/USD – 1.5786 A terrible start to 2013 for sterling losing five cents against both the euro and the US dollar. And this week saw this continue with sterling dropping below the 1.18 mark against the euro for the first time in 11 months, and falling to a five month low of 1.5750 against the  Continue Reading…

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