Sterling climbed by 0.7% against the US dollar as rumours the Swiss National Bank may raise its amount of sterling holdings increases. The pound however, fell by 0.4% against the euro after German parliament voted in favour of approving another Euro zone rescue fund. This week has shown significant signs that sterling is in fact being led around by other currency pairs which makes its movement difficult to predict. Data out yesterday showed UK house prices rose by 0.1%. According to Nationwide, house prices are likely to remain stable until the end of 2011. Call in now for a quote.
In the Euro zone, the euro rose by 0.6% versus the US dollar after German policy makers approved an expansion of the euro zone bailout package. The measure passed with 523 votes in favour and 85 against. Though it was a largely expected decision, tension was still high. Germany will now put up €211 billion instead of €123 billion. Though the common currency seemed to be going rather steady this week, we may see it strengthen further as many feel the correct measures to solve the crisis are finally being taken. Data yesterday showed Germany’s unemployment rate decreased and is at its lowest level in two decades. Out today are Euro zone unemployment figures. Call in now for a live rate.
In the US, the US dollar rose by 0.5% against the yen whilst it made slim losses versus the euro. There was some good news for the US yesterday with GDP figures showing the economy has grown 1.3% for the second quarter. Additionally, jobless claims decreased from last week. Despite this, the US dollar still slipped 0.2% against a basket of currencies. Many think that the appeal for the US dollar as a safe haven currency is being undermined by the possibility of further quantitative easing from the Federal Reserve next week. Out today are figures for US personal income and spending for the month of August. This may cause significant movement, so call in now for a rate.
Elsewhere, the Canadian dollar weakened against the US dollar yesterday as
the prices of commodities sold by Canada rose 0.5% from last month. Canada’s annual inflation rate reached 3.1% for August. Out today are Canada’s GDP figures. Call in now for a quote.
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Friday, 30 September 2011
Thursday, 29 September 2011
Sterling remained steady against the US dollar yesterday and was slightly down versus the euro. With increasing market rumours that Greece will hold off on a default, market players felt somewhat confident and invested in riskier currencies. Expectations the Bank of England will put more quantitative easing on the table continues. Due to this, the pound is likely to remain weak for some time. Out today is net consumer credit for the month of August. Call in now for a rate.
In the Euro zone, the euro rose 0.5% versus the US dollar and the pound. This was largely due to cautious optimism that the correct measures are now being taken to handle the debt crisis. Yesterday, German Chancellor Angela Merkel announced she will wait for a report on Greece’s progress before deciding on whether Germany will help fund a second bailout package. Germany is feeling the stresses of having to bailout financially weak countries, however, many feel Greece will meet targets and as a result, Germany will approve. Out tomorrow is German retail sales data. Call in now for a quote.
In the US, the US dollar weakened versus the euro due to a slight rise in risk appetite. The US dollar also made slim losses versus sterling. The latest economic data revealed US durable goods orders declined by 0.2% in August. This was mostly due to a decrease in demand for cars. Though it was in line with expectations, many are concerned that the US economy is not on a robust recovery, especially when housing and consumer confidence data is low. Out today are GDP figures, this may cause significant movement, so call in now for a rate.
Elsewhere, China allowed the yuan daily currency peg reference rate to strengthen to its highest level since July 2005. The country remains determined to regulate inflation by having a stronger currency and this will be seen as a positive move by the US who have been arguing for a stronger yuan for years. Call in now for a quote.
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In the Euro zone, the euro rose 0.5% versus the US dollar and the pound. This was largely due to cautious optimism that the correct measures are now being taken to handle the debt crisis. Yesterday, German Chancellor Angela Merkel announced she will wait for a report on Greece’s progress before deciding on whether Germany will help fund a second bailout package. Germany is feeling the stresses of having to bailout financially weak countries, however, many feel Greece will meet targets and as a result, Germany will approve. Out tomorrow is German retail sales data. Call in now for a quote.
In the US, the US dollar weakened versus the euro due to a slight rise in risk appetite. The US dollar also made slim losses versus sterling. The latest economic data revealed US durable goods orders declined by 0.2% in August. This was mostly due to a decrease in demand for cars. Though it was in line with expectations, many are concerned that the US economy is not on a robust recovery, especially when housing and consumer confidence data is low. Out today are GDP figures, this may cause significant movement, so call in now for a rate.
Elsewhere, China allowed the yuan daily currency peg reference rate to strengthen to its highest level since July 2005. The country remains determined to regulate inflation by having a stronger currency and this will be seen as a positive move by the US who have been arguing for a stronger yuan for years. Call in now for a quote.
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Wednesday, 28 September 2011
Sterling strengthened against the US dollar yesterday, following gains by the euro, as a rebound in global stock markets increased risk appetite and boosted confidence in sterling. There was a cautious optimism amongst investors that European policymakers were putting together a more solid plan to resolve the debt crisis, however, with nothing concrete announced, this was merely speculation. Sterling was up by 0.7% against the US currency and relatively flat against the euro, having earlier broken above the €1.15/£1 level. UK retail sales were disappointing, coming in at a 16 month low. Out today we have house price figures so call in now for a live exchange rate.
In the Euro zone, the euro rose against the US dollar on Tuesday. This was largely due to optimism that European policy makers are coming close to taking control of the on going debt crisis. There is speculation that the measures put forth have eased fears of a euro zone collapse. Data for German consumer confidence came in better than expected, despite fears of a looming recession and collapsing euro. The situation is very complex and as a result, no magic bullet will resolve the situation. Consequently, policymakers are locked in debate as to the best way forward. Call in now to ensure you don’t lose out.
In the US, the US dollar extended gains versus the euro and the yen as investors are becoming increasingly optimistic that a solution for the euro debt crisis is near. The US dollar fell by 0.7% against the common currency, but rose by 0.4% versus the yen. Data yesterday showed US consumer confidence edged slightly higher, however, it remained relatively unchanged since August. These figures suggest spending in the US is fragile and the economic environment is still weak. Out today are US durable good orders for August. Call in now for a live rate.
Elsewhere, the Swiss franc declined versus the US dollar due to a drastic drop in Switzerland’s consumer demand which almost hit a 2 year low in August. There are concerns that Switzerland’s economy is slowing down due to the franc’s increase in value which has in turn hurt the nation’s demand for exports. The yen on the other hand has strengthened 6% this year. Out today are figures for Japan’s large retailer’s sales, this may cause significant movement so call in now for a quote.
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In the Euro zone, the euro rose against the US dollar on Tuesday. This was largely due to optimism that European policy makers are coming close to taking control of the on going debt crisis. There is speculation that the measures put forth have eased fears of a euro zone collapse. Data for German consumer confidence came in better than expected, despite fears of a looming recession and collapsing euro. The situation is very complex and as a result, no magic bullet will resolve the situation. Consequently, policymakers are locked in debate as to the best way forward. Call in now to ensure you don’t lose out.
In the US, the US dollar extended gains versus the euro and the yen as investors are becoming increasingly optimistic that a solution for the euro debt crisis is near. The US dollar fell by 0.7% against the common currency, but rose by 0.4% versus the yen. Data yesterday showed US consumer confidence edged slightly higher, however, it remained relatively unchanged since August. These figures suggest spending in the US is fragile and the economic environment is still weak. Out today are US durable good orders for August. Call in now for a live rate.
Elsewhere, the Swiss franc declined versus the US dollar due to a drastic drop in Switzerland’s consumer demand which almost hit a 2 year low in August. There are concerns that Switzerland’s economy is slowing down due to the franc’s increase in value which has in turn hurt the nation’s demand for exports. The yen on the other hand has strengthened 6% this year. Out today are figures for Japan’s large retailer’s sales, this may cause significant movement so call in now for a quote.
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Tuesday, 27 September 2011
Sterling appreciated by 0.7% against the euro yesterday as concern over the European debt crisis increased demand for the pound. Sterling also strengthened by 0.7% versus the US dollar. Despite these glimpses of strength, the pound is still suffering from last weeks’ one year low of $1.532/£1 and is increasingly under pressure from last week’s Bank of England minutes. The prospect of more monetary easing is likely to weaken sterling, making it less appealing for investors. Out today is Nationwide housing data which will indicate whether the price of housing has risen/ fallen in comparison to last year. Call in now for a rate.
In the Euro zone, the euro extended its losses against the US dollar after depreciating by 0.5%. The common currency also hit a decade low versus the yen. A key German Sentiment Survey came in higher than expected, but figures were still lower than last month. As Germany is one of the world’s largest exporters of manufactured goods, there is a slight worry that trading conditions may be slowing down. Whilst the euro made gains off this data, they were only temporary as there are severe concerns that the measures proposed from Sunday’s G20 meeting will not be enough to tackle the euro debt crisis. Investors expect a lot of volatility so call in now for a live rate.
In the US, the US dollar slipped 0.4% versus the yen and made slim gains against the euro. US new home sales data came in as expected but figures are still at a six month low. It has become evident that despite low mortgage rates, Americans are flocking towards renting or buying second hand homes which are much cheaper. These figures should not come as a surprise as homebuilder sentiment is also at record lows. Out today is US consumer confidence, this could cause significant movement so call in now for a quote.
Elsewhere, the Canadian dollar depreciated by 0.8% to the US dollar. This is largely due to investors now seeking refuge in the greenback. The Swedish krona on the other hand was one of the best performers compared to other major currencies, strengthening 0.9% against the US dollar. The Norwegian krone also rose 0.8% against the greenback. Call in now for a live rate.
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In the Euro zone, the euro extended its losses against the US dollar after depreciating by 0.5%. The common currency also hit a decade low versus the yen. A key German Sentiment Survey came in higher than expected, but figures were still lower than last month. As Germany is one of the world’s largest exporters of manufactured goods, there is a slight worry that trading conditions may be slowing down. Whilst the euro made gains off this data, they were only temporary as there are severe concerns that the measures proposed from Sunday’s G20 meeting will not be enough to tackle the euro debt crisis. Investors expect a lot of volatility so call in now for a live rate.
In the US, the US dollar slipped 0.4% versus the yen and made slim gains against the euro. US new home sales data came in as expected but figures are still at a six month low. It has become evident that despite low mortgage rates, Americans are flocking towards renting or buying second hand homes which are much cheaper. These figures should not come as a surprise as homebuilder sentiment is also at record lows. Out today is US consumer confidence, this could cause significant movement so call in now for a quote.
Elsewhere, the Canadian dollar depreciated by 0.8% to the US dollar. This is largely due to investors now seeking refuge in the greenback. The Swedish krona on the other hand was one of the best performers compared to other major currencies, strengthening 0.9% against the US dollar. The Norwegian krone also rose 0.8% against the greenback. Call in now for a live rate.
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Monday, 26 September 2011
Sterling gained against the US dollar on Friday afternoon as investors took profits from the US currency’s earlier rally, but the pound remained close to a one year low on concerns over the global economic outlook. The pound also strengthened against the euro on speculation that Greece will not be able to secure another bailout package. These gains however were temporary as concerns over global economic growth continue. Data on Friday showed mortgage approvals in the UK increased by 14% from last year, with lenders granting up to 35,226 new loans to purchase homes. Out this week there is more housing data which may cause significant movement so call in now for a live rate.
In the Euro zone, the euro rose by 0.6% against the US dollar rebounding after an 8 month low. This was largely due to G20 policy makers’ meeting in Washington where they agreed to take the necessary measures to prevent the European debt crisis from undermining the financial market and the banks. Though this may have helped the common currency on Friday, investors are still uncertain that the measures put forth will be able to contain the debt crisis from spreading, not only to peripheral countries, but on a global basis. Reports over the weekend suggest that euro zone leaders are ready to throw trillions of euros at the debt crisis – call in now for a live exchange rate.
In the US, the US dollar extended losses versus sterling and the euro as market players placed bets on the greenback’s rally on Thursday. The US dollar also weakened against the yen trading at almost post World War II lows. The US dollar-yen relationship is a good indicator of how much or how little safety investors think they need. US stocks plunged again on Friday as there are growing fears of global economic stagnation. Out tomorrow is US consumer confidence data which will show how comfortable the public are with their spending. Call in now for a rate.
Elsewhere, the rand weakened 4.5% against the US dollar on Friday. South Africa’s central bank also left lending rates at a 30 year low of 5.5% to slow down any further price pressures. The yen on the other hand is strengthening on the back of economic turmoil. In fact, the yen has appreciated 11.4% in three months. Investors seek safety in the yen due to its surplus on current accounts. Call in now for a rate.
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In the Euro zone, the euro rose by 0.6% against the US dollar rebounding after an 8 month low. This was largely due to G20 policy makers’ meeting in Washington where they agreed to take the necessary measures to prevent the European debt crisis from undermining the financial market and the banks. Though this may have helped the common currency on Friday, investors are still uncertain that the measures put forth will be able to contain the debt crisis from spreading, not only to peripheral countries, but on a global basis. Reports over the weekend suggest that euro zone leaders are ready to throw trillions of euros at the debt crisis – call in now for a live exchange rate.
In the US, the US dollar extended losses versus sterling and the euro as market players placed bets on the greenback’s rally on Thursday. The US dollar also weakened against the yen trading at almost post World War II lows. The US dollar-yen relationship is a good indicator of how much or how little safety investors think they need. US stocks plunged again on Friday as there are growing fears of global economic stagnation. Out tomorrow is US consumer confidence data which will show how comfortable the public are with their spending. Call in now for a rate.
Elsewhere, the rand weakened 4.5% against the US dollar on Friday. South Africa’s central bank also left lending rates at a 30 year low of 5.5% to slow down any further price pressures. The yen on the other hand is strengthening on the back of economic turmoil. In fact, the yen has appreciated 11.4% in three months. Investors seek safety in the yen due to its surplus on current accounts. Call in now for a rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Thursday, 22 September 2011
Sterling continued to lose ground against the US dollar on increased risk aversion and worries about the UK economy reaching its lowest level since December last year. Wednesday’s Bank of England minutes made it clear that further quantitative easing was likely and increased speculation over a possible interest rate cut from the current 0.5%. Out yesterday were UK factory export order figures which came in weaker that expected. Out today is house purchasing data for the month of August. This may cause significant movement so call in now for a live rate.
In the Euro zone, the euro weakened against the US dollar being down 0.9%- the weakest level since January 2011. It also reached a 10 year low versus the yen. The Federal Reserve’s announcement which hinted that the global economy is headed for a recession led to increased risk aversion which meant that riskier assets such as the euro were sold. Even with Greece repaying two bond coupons at the start of this week, it has still not been enough to ease concern of Greece defaulting, especially when crucial data came in weaker than expected this week. Call in now for a quote.
The US dollar made significant gains against a basket of currencies hitting a 7 month high versus the euro. After the Federal Reserve’s bleak economic outlook, investors retreated to the safe haven US dollar, as is does in times of market turmoil. This weeks Federal Reserve meeting unveiled a strategy called ‘operation twist’ which could potentially boost the US housing sector by bringing down long term interest rates. Many are already unsure if this programme will work. Call in now for a live rate.
Elsewhere, Australia’s dollar depreciated 2.7% against the US dollar. Despite this, Australia’s GDP increased more than expected in the last quarter, due to a rise in consumer spending. The New Zealand dollar also extended losses versus the greenback as China’s manufacturing figures are predicted to be weak for this month. Call in for a live quote.
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In the Euro zone, the euro weakened against the US dollar being down 0.9%- the weakest level since January 2011. It also reached a 10 year low versus the yen. The Federal Reserve’s announcement which hinted that the global economy is headed for a recession led to increased risk aversion which meant that riskier assets such as the euro were sold. Even with Greece repaying two bond coupons at the start of this week, it has still not been enough to ease concern of Greece defaulting, especially when crucial data came in weaker than expected this week. Call in now for a quote.
The US dollar made significant gains against a basket of currencies hitting a 7 month high versus the euro. After the Federal Reserve’s bleak economic outlook, investors retreated to the safe haven US dollar, as is does in times of market turmoil. This weeks Federal Reserve meeting unveiled a strategy called ‘operation twist’ which could potentially boost the US housing sector by bringing down long term interest rates. Many are already unsure if this programme will work. Call in now for a live rate.
Elsewhere, Australia’s dollar depreciated 2.7% against the US dollar. Despite this, Australia’s GDP increased more than expected in the last quarter, due to a rise in consumer spending. The New Zealand dollar also extended losses versus the greenback as China’s manufacturing figures are predicted to be weak for this month. Call in for a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Sterling had a rocky day yesterday after the Bank of England minutes showed policymakers leaning towards another round of quantitative easing. This caused the pound to hit an 8 month low versus the US dollar and a 2½ year low against the yen. The minutes revealed that policy makers’ outlook on a robust UK recovery is deteriorating with monetary easing likely to come into practice as soon as October. Data out yesterday also showed UK government borrowing rose unexpectedly in the month of August by £1.9bn. Out later on tomorrow are housing figures. Call in now for a quote.
In the Euro zone, the euro fell 0.8% versus the US dollar whilst falling 1.4% over the past month among 10 developed nation currencies. Investor worry that Greece may default on its debt is still the focal concern. Greek government bonds also fell yesterday whilst Euro zone policy makers organise another meeting in Athens to try and resolve the country’s crisis. Out today there is German manufacturing data. As the largest economy in the Euro zone, this may cause significant movement, so call in now for a rate.
In the US, the US dollar appreciated 0.2% versus the euro as pressing concern over the Greek crisis continues to push investors towards safe haven currencies. Better then expected housing data came in yesterday with existing home sales increasing 7.7% since last month. Analysts have argued that it is largely due to a rise in the cost of rent. Many are waiting for the result of the Federal Reserve’s two day meeting which concludes today. Market players are expecting the Federal Reserve to announce further monetary easing for the US economy. Call in now for a quote.
Elsewhere, the New Zealand dollar depreciated versus the US dollar yesterday after data demonstrated the nation’s deficit widened more than expected. Due to the Euro zone crisis deepening and a slow down in the demand for goods, the Norges Bank left interest rates unchanged at 2.25%. Call in now for a live rate.
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In the Euro zone, the euro fell 0.8% versus the US dollar whilst falling 1.4% over the past month among 10 developed nation currencies. Investor worry that Greece may default on its debt is still the focal concern. Greek government bonds also fell yesterday whilst Euro zone policy makers organise another meeting in Athens to try and resolve the country’s crisis. Out today there is German manufacturing data. As the largest economy in the Euro zone, this may cause significant movement, so call in now for a rate.
In the US, the US dollar appreciated 0.2% versus the euro as pressing concern over the Greek crisis continues to push investors towards safe haven currencies. Better then expected housing data came in yesterday with existing home sales increasing 7.7% since last month. Analysts have argued that it is largely due to a rise in the cost of rent. Many are waiting for the result of the Federal Reserve’s two day meeting which concludes today. Market players are expecting the Federal Reserve to announce further monetary easing for the US economy. Call in now for a quote.
Elsewhere, the New Zealand dollar depreciated versus the US dollar yesterday after data demonstrated the nation’s deficit widened more than expected. Due to the Euro zone crisis deepening and a slow down in the demand for goods, the Norges Bank left interest rates unchanged at 2.25%. Call in now for a live rate.
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Wednesday, 21 September 2011
Sterling was up 0.1% versus the US dollar yesterday regaining ground from Monday’s 8 month low of $1.563/£1. This increase was largely due to a slight rise in risk appetite. Against the euro however, the pound was flat and hit a day low of €1.144/£1. Out later today we have the BoE (Bank of England) minutes which will determine whether more policy makers want to push forth for another round of quantitative easing. If this is the case, it will not only expand the BoE’s balance sheet, but may have a negative impact on sterling, so call in now for a rate.
In the Euro zone, the euro fell slightly versus the US dollar after rating agency S&P downgraded Italy. Weak German data did not help the single currency either. German investor sentiment fell to its lowest in 3 years whilst German producer price index dropped 0.3%. On a more positive note, Greece declared that it has paid off two bond coupons worth 769 million euros. Worry over Greece’s ability to meet targets is still present. Out today is Euro zone industrial orders. Call in now for a quote.
In the US, the US dollar was up against the euro but slipped 0.1% versus a currency basket. Housing data out yesterday showed an unexpected 3.2% rise in building permits for the month of August, reaching the highest level since January 2011. Many are waiting for the today’s announcement by Federal Reserve officials which may signal a third round of quantitative easing to decrease unemployment in the US. Just like the UK, if this measure were to be put in place, it would without a doubt dilute the value of the US dollar. Call in now for a live rate.
Elsewhere, the safe haven Swiss franc weakened by 0.5% against the euro and 0.7% to the US dollar. This is likely to be due to market rumours that the Swiss National Bank may increase its previous euro intervention of €1.20 to €1.25. The Australian dollar also regained ground yesterday as global stocks rebounded in addition to commodities. Call in for a quote.
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In the Euro zone, the euro fell slightly versus the US dollar after rating agency S&P downgraded Italy. Weak German data did not help the single currency either. German investor sentiment fell to its lowest in 3 years whilst German producer price index dropped 0.3%. On a more positive note, Greece declared that it has paid off two bond coupons worth 769 million euros. Worry over Greece’s ability to meet targets is still present. Out today is Euro zone industrial orders. Call in now for a quote.
In the US, the US dollar was up against the euro but slipped 0.1% versus a currency basket. Housing data out yesterday showed an unexpected 3.2% rise in building permits for the month of August, reaching the highest level since January 2011. Many are waiting for the today’s announcement by Federal Reserve officials which may signal a third round of quantitative easing to decrease unemployment in the US. Just like the UK, if this measure were to be put in place, it would without a doubt dilute the value of the US dollar. Call in now for a live rate.
Elsewhere, the safe haven Swiss franc weakened by 0.5% against the euro and 0.7% to the US dollar. This is likely to be due to market rumours that the Swiss National Bank may increase its previous euro intervention of €1.20 to €1.25. The Australian dollar also regained ground yesterday as global stocks rebounded in addition to commodities. Call in for a quote.
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Tuesday, 20 September 2011
Sterling depreciated against the yen, hitting its lowest in over 2 ½ years. Despite this, the pound strengthened against the euro for a second day after data from the UK’s top property website, Rightmove Plc showed 0.7% increase in house values for September. Also out today was the BoE’s (Bank of England) quarterly bulletin which indicated that the quantitative easing programme introduced in March 2009 has raised UK GDP by 2%. Out tomorrow is the BoE’s minutes from this month’s meeting. Call in now for a rate.
In the euro zone, concerns over Greek default continue. European stocks terminated their four day rally whilst the common currency depreciated 1.4% against the US dollar. Many are worried that Greece will not meet the conditions of rescue loans. If this is the case, the country will not receive its sixth tranche of loans to prevent default. Additionally, with Germany’s ruling coalition receiving another electoral defeat, public dissatisfaction with Merkel’s choices regarding the euro zone is being becoming evident. Out today is German Producer Prices. Call in for a live exchange rate.
In the US, the US dollar rallied against the Swiss franc due to growing concerns over a Greek default. Though the Swiss franc is the ‘go to’ currency in times of turmoil, the Swiss National Bank’s recent decision to weaken the currency against the euro has inadvertently pushed more investors towards the US dollar. Yesterday President Obama called for tax increases (mostly targeting high earners) as another part of his plan to cut the US deficit. Out tomorrow is the Federal rate decision. This may cause significant movement so call in now for a rate.
Elsewhere, the rand depreciated to a one year low versus the US dollar. The South African currency fell as much as 2.1%, the weakest level since July 2010. Asian currencies also weakened, particularly South Korea’s won. There is increasing worry that Europe’s debt crisis is restricting global economic growth and in turn damaging the region’s exports. Out tomorrow is Canada’s Consumer Price Index. Call in now for a live rate
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the euro zone, concerns over Greek default continue. European stocks terminated their four day rally whilst the common currency depreciated 1.4% against the US dollar. Many are worried that Greece will not meet the conditions of rescue loans. If this is the case, the country will not receive its sixth tranche of loans to prevent default. Additionally, with Germany’s ruling coalition receiving another electoral defeat, public dissatisfaction with Merkel’s choices regarding the euro zone is being becoming evident. Out today is German Producer Prices. Call in for a live exchange rate.
In the US, the US dollar rallied against the Swiss franc due to growing concerns over a Greek default. Though the Swiss franc is the ‘go to’ currency in times of turmoil, the Swiss National Bank’s recent decision to weaken the currency against the euro has inadvertently pushed more investors towards the US dollar. Yesterday President Obama called for tax increases (mostly targeting high earners) as another part of his plan to cut the US deficit. Out tomorrow is the Federal rate decision. This may cause significant movement so call in now for a rate.
Elsewhere, the rand depreciated to a one year low versus the US dollar. The South African currency fell as much as 2.1%, the weakest level since July 2010. Asian currencies also weakened, particularly South Korea’s won. There is increasing worry that Europe’s debt crisis is restricting global economic growth and in turn damaging the region’s exports. Out tomorrow is Canada’s Consumer Price Index. Call in now for a live rate
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Monday, 19 September 2011
Sterling regained ground versus the US dollar after hitting a session low of $1.574/£1. The pound also rose by 0.7% against a weaker euro. This is largely due to investors still uncertain on whether EU policy makers are taking sufficient steps to tackle the Euro zone debt problem. Despite sterling making these slim gains, there is still growing sentiment that another round of quantitative easing will be introduced by November to help revive Britain’s economy. Out this week are The Bank of England’s minutes. Call in now for a rate.
In the euro zone, the euro was down 0.7% against the US dollar after European finance ministers provided no indication of giving extra support to lenders. German Chancellor Angela Merkel also reiterated her objection to euro bonds on Friday. On the other hand, there is increasing speculation that all efforts are being undertaken by euro zone governments and we could see the common currency stabilise. Out this week we have German Producer Prices for the month of August. Things may become unpredictable so call in now for a live exchange rate.
In the US, the dollar rose 0.1% against the safe-haven Japanese yen. However, investors are still reluctant to take long positions in the dollar particularly ahead of the Federal Reserve’s September policy meeting scheduled for tomorrow and Wednesday. Investors are expecting the Federal Reserve to intervene in some form to stimulate the sluggish US economic growth. Many think borrowing costs for bonds will be kept low so as to support the US economy. Out this week there are US building home permits and home sales data. Call in now for a quote.
Elsewhere, the rand declined for a second week in a row and fell 0.9% to the US dollar. This is largely due to the deepening of the euro zone crisis which is slowing global economic growth. If the rand continues to decline, it will also eliminate the possibility of a cut in interest rates. On the contrary, Canada’s dollar made a weekly gain versus all of its 16 trading peers. There are bets that the Canadian currency will appeal to a number of investors during turbulent moments in the market. Call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the euro zone, the euro was down 0.7% against the US dollar after European finance ministers provided no indication of giving extra support to lenders. German Chancellor Angela Merkel also reiterated her objection to euro bonds on Friday. On the other hand, there is increasing speculation that all efforts are being undertaken by euro zone governments and we could see the common currency stabilise. Out this week we have German Producer Prices for the month of August. Things may become unpredictable so call in now for a live exchange rate.
In the US, the dollar rose 0.1% against the safe-haven Japanese yen. However, investors are still reluctant to take long positions in the dollar particularly ahead of the Federal Reserve’s September policy meeting scheduled for tomorrow and Wednesday. Investors are expecting the Federal Reserve to intervene in some form to stimulate the sluggish US economic growth. Many think borrowing costs for bonds will be kept low so as to support the US economy. Out this week there are US building home permits and home sales data. Call in now for a quote.
Elsewhere, the rand declined for a second week in a row and fell 0.9% to the US dollar. This is largely due to the deepening of the euro zone crisis which is slowing global economic growth. If the rand continues to decline, it will also eliminate the possibility of a cut in interest rates. On the contrary, Canada’s dollar made a weekly gain versus all of its 16 trading peers. There are bets that the Canadian currency will appeal to a number of investors during turbulent moments in the market. Call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Friday, 16 September 2011
Sterling declined 6.5% against a basket of nine currencies over the past 12 months, making it the second worst performer after the US dollar. After an array of weak data, yesterday’s sales figures proved to be no different. Figures showed a 0.2% decline in retail sales. The Office of National Statistics however did state that due to August London riots where a widespread of looting occurred across a number of big retailers, it was difficult to quantify exact figures. Nonetheless, because of a rise in inflation coupled with low employment figures, the likelihood of retail figures being better than expected is still very slim. Uncertainty over a robust UK recovery still looms, making quantitative easing, once again, an attractive option for the central bank. Call in now for a rate.
In the Euro zone, the euro jumped more than once cent versus the US dollar yesterday. This was largely due to the European Central Bank’s decision to lend euro based banks dollars for a period of three months so as to ensure these banks have enough currency through the end of the year. Though inflation figures showed stability and President Papandreou committed to implement the necessary austerity measures for Greece in Wednesday’s international call, many are still sceptical that targets will not be met. Due to this, euro gains are thought to be temporary, particularly against the US dollar. Investors are not willing to take risks at the moment and are seeking security in safe haven currencies. Call in for a live rate
In the US, the US dollar retreated after its three day winning streak against the euro. The greenback also extended losses versus the Swiss franc. Investors see this as only a temporary set back, for the debt crisis in the euro zone seems to be deepening. US consumer price figures came in better than expected, increasing by 0.4% in August, contrarily, factory activity in the Mid Atlantic decreased for a second month in a row. Though the US may show some signs of improvement, the economy is still struggling, particularly in the employment sector. Protect yourself now and call in for a rate.
Elsewhere, the Australian dollar continues to decline versus the US$ as there is increasing speculation that the Australian Federal Reserve may cut interest rates due to a rise in unemployment. Yesterday the Swiss National Bank decided to hold interest rates at a record low of 2.5% so as to maintain the minimum exchange rate with the euro. Call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro jumped more than once cent versus the US dollar yesterday. This was largely due to the European Central Bank’s decision to lend euro based banks dollars for a period of three months so as to ensure these banks have enough currency through the end of the year. Though inflation figures showed stability and President Papandreou committed to implement the necessary austerity measures for Greece in Wednesday’s international call, many are still sceptical that targets will not be met. Due to this, euro gains are thought to be temporary, particularly against the US dollar. Investors are not willing to take risks at the moment and are seeking security in safe haven currencies. Call in for a live rate
In the US, the US dollar retreated after its three day winning streak against the euro. The greenback also extended losses versus the Swiss franc. Investors see this as only a temporary set back, for the debt crisis in the euro zone seems to be deepening. US consumer price figures came in better than expected, increasing by 0.4% in August, contrarily, factory activity in the Mid Atlantic decreased for a second month in a row. Though the US may show some signs of improvement, the economy is still struggling, particularly in the employment sector. Protect yourself now and call in for a rate.
Elsewhere, the Australian dollar continues to decline versus the US$ as there is increasing speculation that the Australian Federal Reserve may cut interest rates due to a rise in unemployment. Yesterday the Swiss National Bank decided to hold interest rates at a record low of 2.5% so as to maintain the minimum exchange rate with the euro. Call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Thursday, 15 September 2011
Sterling fell to an eight month low versus the dollar and also made losses against the yen, reaching its lowest since January 2009. Unemployment in the UK worryingly rose by 80,000 in three months to July. This data has increased the case for a possible slow down in austerity measures as well as an increase in demand for some kind of fiscal stimulus. Some investors think further quantitative will be introduced as early as next month. The cuts taking place in the UK have been viewed by some as too drastic with worries that these measures may in fact stunt UK economic growth. Call in now for a rate.
In Euro zone, the euro weakened against the US dollar, erasing almost all its weekly gains. It also fell 0.5% to the yen. The weakening of the common currency is largely due to investors holding off from riskier currencies as well as being cautious prior to a conference call between policy makers in Greece, Germany and France. China’s Premier, Wen Jibao also expressed concern with the need to solve this crisis, declaring that developed nations must cut deficits and create jobs rather than leaning on China to bail out the world economy. Out today is Euro zone consumer figures which will see whether prices have increased/ decreased for consumer goods and services. Call us for a live rate.
In the US, the US dollar had a steady day making gains against the euro. This is very likely to be a result of hardly any concrete plans from Euro zone members to draw a line under the Greek debt crisis. This has caused market players to seek haven in the greenback rather than riskier assets. However, figures for retail and business inventories came in weaker than expected indicating a slowing American economy. A National Poll conducted by Bloomberg showed pessimism about the US economy has increased with only 20% agreeing that that the country is taking the right steps to avoid a recession. Out today there is also US consumer price figures. This may cause significant movement so call in for a rate.
Elsewhere, Canada’s dollar weakened against the US dollar for a third day in a row along with other export lead currencies such as the Australian dollar and the Norwegian Krone. Moreover, The Reserve Bank of New Zealand held interest rates at a record low of 2.5%. Call in for an exchange rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In Euro zone, the euro weakened against the US dollar, erasing almost all its weekly gains. It also fell 0.5% to the yen. The weakening of the common currency is largely due to investors holding off from riskier currencies as well as being cautious prior to a conference call between policy makers in Greece, Germany and France. China’s Premier, Wen Jibao also expressed concern with the need to solve this crisis, declaring that developed nations must cut deficits and create jobs rather than leaning on China to bail out the world economy. Out today is Euro zone consumer figures which will see whether prices have increased/ decreased for consumer goods and services. Call us for a live rate.
In the US, the US dollar had a steady day making gains against the euro. This is very likely to be a result of hardly any concrete plans from Euro zone members to draw a line under the Greek debt crisis. This has caused market players to seek haven in the greenback rather than riskier assets. However, figures for retail and business inventories came in weaker than expected indicating a slowing American economy. A National Poll conducted by Bloomberg showed pessimism about the US economy has increased with only 20% agreeing that that the country is taking the right steps to avoid a recession. Out today there is also US consumer price figures. This may cause significant movement so call in for a rate.
Elsewhere, Canada’s dollar weakened against the US dollar for a third day in a row along with other export lead currencies such as the Australian dollar and the Norwegian Krone. Moreover, The Reserve Bank of New Zealand held interest rates at a record low of 2.5%. Call in for an exchange rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Wednesday, 14 September 2011
Sterling lost ground yesterday moving towards a seven and half month low against the US$ and falling below 1.16 against the euro. Yesterday’s inflation figures showed a further rise in the price of retail goods and services. Energy costs and the increase of VAT at the start of the year are being blamed. It will not be enough for the Band of England to increase interest rates. Recent data has also demonstrated that the UK’s trade deficit is widening causing concern amongst investors that the possibility of an export led recovery is petering out. Contact us today for a live rate.
The Euro zone debt crisis continues to dominate newspaper headlines. Borrowing costs in Italy continue their upward trajectory and there is ongoing speculation that a number of French banks could be have their credit rating downgraded [reducing their ability to borrow at good rates] by the rating agencies. One thing is certain, the debt crisis is still far from being solved and peripheral countries remain the point of concern. Out today are Euro zone industrial production figures which will show activity in the manufacturing and energy sector. Call in now for a rate.
In the US, the US dollar slipped from Monday’s seven month high against a basket of currencies. Yesterday’s data came in lower than expected with the price of imported goods falling for the month of August. Interestingly, President Obama also voiced his concern over the euro zone crisis calling for Euro zone policy makers to solve the problem as soon as possible as the crisis is weakening the global economy. Out today are US retail figures which measure consumer spending at retail outlets. This may cause significant volatility so call in now for a rate.
Elsewhere, commodity currencies such as the Australian dollar struggled slightly against the US dollar as data showed a decrease in Australia’s business confidence. South African bonds declined due to US dollar strength. As a result, market players are expecting interest rates to remain on hold in South Africa. Out today is New Zealand’s interest rate decision. This could cause a lot of movement, so call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The Euro zone debt crisis continues to dominate newspaper headlines. Borrowing costs in Italy continue their upward trajectory and there is ongoing speculation that a number of French banks could be have their credit rating downgraded [reducing their ability to borrow at good rates] by the rating agencies. One thing is certain, the debt crisis is still far from being solved and peripheral countries remain the point of concern. Out today are Euro zone industrial production figures which will show activity in the manufacturing and energy sector. Call in now for a rate.
In the US, the US dollar slipped from Monday’s seven month high against a basket of currencies. Yesterday’s data came in lower than expected with the price of imported goods falling for the month of August. Interestingly, President Obama also voiced his concern over the euro zone crisis calling for Euro zone policy makers to solve the problem as soon as possible as the crisis is weakening the global economy. Out today are US retail figures which measure consumer spending at retail outlets. This may cause significant volatility so call in now for a rate.
Elsewhere, commodity currencies such as the Australian dollar struggled slightly against the US dollar as data showed a decrease in Australia’s business confidence. South African bonds declined due to US dollar strength. As a result, market players are expecting interest rates to remain on hold in South Africa. Out today is New Zealand’s interest rate decision. This could cause a lot of movement, so call in for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Tuesday, 13 September 2011
Sterling hit a 6 month high against the euro yesterday morning of €1.1724/£1 on concerns over the European debt crisis, but fell to the lowest level against the US dollar since January. After a fresh bout of concerns over Greece’s ability to pay its debts, sterling gained but slipped back after investors cooled earlier negativity towards the single currency. Sterling also came under pressure against the US dollar over rumours that the Bank of England would inject a fresh round of Quantitative Easing to boost the economy. Additionally, whilst the euro zone crisis should be good for sterling, Europe is one of the UK’s largest trade partners so it is in the UK’s interest for the region to stabilise. Call in now for a live exchange rate.
In the euro zone, markets plummeted as investors yet again became concerned over the ability of Greece to repay its debt. In the latest saga of a 2 year sovereign crisis, there was concern that Greece may yet again struggle to gain the next tranche of its international bailout package. This put pressure on the single currency and wasn’t helped by speculation over an imminent credit rating downgrade of major French banks due to their Greek exposure. Athens only has a few weeks’ cash left so call in now for a live exchange rate.
In the USA, the US dollar hit a 7 month high against the euro as investors looked to the relative safe haven of the US currency on further concerns over a potential Greek default. Out this week there is a wide array of data in the US, so ensure you protect yourself by speaking to one of the team sooner rather than later.
Elsewhere, the Swiss franc strengthened against the US dollar as investors looked for safe havens and the Australian dollar fell to a one month low against the US currency – a measure of the lack of risk appetite. Call in now for a live exchange rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the euro zone, markets plummeted as investors yet again became concerned over the ability of Greece to repay its debt. In the latest saga of a 2 year sovereign crisis, there was concern that Greece may yet again struggle to gain the next tranche of its international bailout package. This put pressure on the single currency and wasn’t helped by speculation over an imminent credit rating downgrade of major French banks due to their Greek exposure. Athens only has a few weeks’ cash left so call in now for a live exchange rate.
In the USA, the US dollar hit a 7 month high against the euro as investors looked to the relative safe haven of the US currency on further concerns over a potential Greek default. Out this week there is a wide array of data in the US, so ensure you protect yourself by speaking to one of the team sooner rather than later.
Elsewhere, the Swiss franc strengthened against the US dollar as investors looked for safe havens and the Australian dollar fell to a one month low against the US currency – a measure of the lack of risk appetite. Call in now for a live exchange rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Monday, 12 September 2011
Sterling surged against the euro on Friday as the European Central Bank pulled back from its policy of increasing interest rates and a key ECB policymaker unexpectedly quit his position. Juergen Stark will step down in a dispute over the ECB’s bond-buying programme, underpinning how divided key decision makers are over the best way to deal with the euro zone crisis. So far this morning, we have seen sterling briefly hit €1.17/£1 as sterling gains support but concerns over the UK’s recovery has kept the pound under pressure against the US dollar. This week in the UK, we have the results from the independent commission on banking today, unemployment figures on Wednesday and retail sales figures on Thursday. Some analysts expect unemployment claims to jump this month so call in now to ensure you don’t lose out.
In the euro zone, it is unlikely to be a quiet week in the region. The resignation of a key member of the ECB goes to show the level of disagreement at high levels over the best way to deal with the crisis. The week ahead sees a meeting of the region’s finance ministers on Thursday and a European parliamentary debate over the crisis on Wednesday which could add further dichotomy to the number of official views on the crisis. Get in touch now for a live exchange rate.
In the USA, there is important data released this week on both consumer and wholesale inflation. In addition, there are key gauges released in the form of the NFIB small business survey and the Empire State and Philadelphia Fed survey which will give an idea of the state of the economy. The US dollar has benefited from concern over the euro zone crisis so call in now for a live exchange rate.
Elsewhere, the Swiss franc continues to hover around the CHF1.20/ €1 mark after the Swiss National Bank last week announced that it would intervene to devalue its currency. Moves made last week saw the Swiss franc devalue by nearly 8% and sterling has gained even more, breaking above CHF1.40/£1. Get in touch now to avoid adverse market movements impacting your payments.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the euro zone, it is unlikely to be a quiet week in the region. The resignation of a key member of the ECB goes to show the level of disagreement at high levels over the best way to deal with the crisis. The week ahead sees a meeting of the region’s finance ministers on Thursday and a European parliamentary debate over the crisis on Wednesday which could add further dichotomy to the number of official views on the crisis. Get in touch now for a live exchange rate.
In the USA, there is important data released this week on both consumer and wholesale inflation. In addition, there are key gauges released in the form of the NFIB small business survey and the Empire State and Philadelphia Fed survey which will give an idea of the state of the economy. The US dollar has benefited from concern over the euro zone crisis so call in now for a live exchange rate.
Elsewhere, the Swiss franc continues to hover around the CHF1.20/ €1 mark after the Swiss National Bank last week announced that it would intervene to devalue its currency. Moves made last week saw the Swiss franc devalue by nearly 8% and sterling has gained even more, breaking above CHF1.40/£1. Get in touch now to avoid adverse market movements impacting your payments.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Friday, 9 September 2011
Sterling strengthened 0.4% versus the US dollar, reversing its previous 8 week low of $1.5914/£1. Sterling also rose firmly against the euro yesterday. These gains were largely due to the Bank of England’s (BoE) decision to keep interest rates on hold at 0.5% as well as sticking to its current asset- purchasing programme. Despite sterling’s rally yesterday, these gains are seen as temporary and definitely not a positive sign for UK economic recovery. The BoE’s decision indicates that the UK is still in no position to warrant an immediate move- something which is evident from this week’s weak data. Call in now for a quote.
In the Euro zone, the euro fell to a 2 month low against the US dollar and decreased 1% to sterling and the New Zealand dollar. Out yesterday was the long awaited European Central Bank’s interest rate decision that left the bench mark rate at 1.5% with no signs of increases in the near term. Though the euro may show signs of improving, as seen this week with better than expected retail figures for example, there are still fears of peripheral contagion and speculation that further volatility between the euro- dollar is to be expected. Protect yourself and call in now for a live rate.
In the US, the US dollar was strengthened against a basket of currencies. It was little changed against the yen and was up 1.1% against the Swiss franc. In a rousing speech last night, President Barack Obama launched his “American Jobs Act” and Fed Chairman Ben Bernanke hinted at further monetary easing in order to boost the stuttering recovery. It was made clear that the plan would not be funded by debt, but further efficiency savings. Call in now for a live quote as the package has boosted volatility.
Elsewhere, the rand advanced against all its major counterparts due to an increase in raw material prices. The rand strengthened for a third day in a row against the euro. Contrarily, after the Swiss National Bank’s decision to enforce a ceiling, the Swiss franc weakened against 16 major peers, falling to a record low this week against the euro. Out today are retail sales figures for China and unemployment data for Canada. This may cause significant movement, so call in now for a rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro fell to a 2 month low against the US dollar and decreased 1% to sterling and the New Zealand dollar. Out yesterday was the long awaited European Central Bank’s interest rate decision that left the bench mark rate at 1.5% with no signs of increases in the near term. Though the euro may show signs of improving, as seen this week with better than expected retail figures for example, there are still fears of peripheral contagion and speculation that further volatility between the euro- dollar is to be expected. Protect yourself and call in now for a live rate.
In the US, the US dollar was strengthened against a basket of currencies. It was little changed against the yen and was up 1.1% against the Swiss franc. In a rousing speech last night, President Barack Obama launched his “American Jobs Act” and Fed Chairman Ben Bernanke hinted at further monetary easing in order to boost the stuttering recovery. It was made clear that the plan would not be funded by debt, but further efficiency savings. Call in now for a live quote as the package has boosted volatility.
Elsewhere, the rand advanced against all its major counterparts due to an increase in raw material prices. The rand strengthened for a third day in a row against the euro. Contrarily, after the Swiss National Bank’s decision to enforce a ceiling, the Swiss franc weakened against 16 major peers, falling to a record low this week against the euro. Out today are retail sales figures for China and unemployment data for Canada. This may cause significant movement, so call in now for a rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Thursday, 8 September 2011
Sterling was flat against the euro yesterday, but gained by 0.4% against the US dollar. There was mixed data in for the UK with industrial production falling by 0.2% however manufacturing data came in better than expected, rising by 0.1% in July. Increases in the production of electrical and optical goods were the key drivers of this positive data. Out today there are UK GDP figures as well as the Bank of England’s (BoE) decision on interest rates. With mounting speculation that the BoE will keep interest rates on hold, numerous market players now think that although another round of monetary easing may be needed, it is highly unlikely it will happen today. We may see significant volatility today, so protect yourself and call in for a quote.
In the Euro zone, the euro made gains versus the dollar as well as maintaining Tuesday’s large gains against the Swiss franc. A ruling in the German Constitutional Court which discarded all lawsuits targeted to block German participation in Euro zone bailouts also helped the common currency yesterday. German industrial output came in better than expected as well. Despite these positive glimpses, it is not enough to ease worries over the Euro zone debt crisis. Investors still view the euro as vulnerable and predict it will struggle in coming months. Our today is the European Central Bank interest rate decision where we could see rates being left on hold at 1.5%. Call in now for a quote.
In the US, the US dollar fell against the euro, terminating its longest rally since April 2010. The dollar fell by 0.3% versus the euro and 0.4% against the yen. Today is the long awaited meeting between President Obama and Congress. Their live meeting will propose getting rid of that worrying 9.1% unemployment rate and put forth new methods for increasing jobs. They will also discuss ways of boosting US economic growth which could result in the implementation of drastic tax cuts. Issue raised in this meeting will play a significant role in Obama’s run for re- election in 2012. Call in now for a rate.
Elsewhere, commodity currencies such as the Australian made significant gains. The Aussie dollar rose 1.2% versus the US dollar as data showed that the Australian economy grew rapidly in four years. Investors are now expressing vast amounts of worry over where the new safe haven is. There is speculation that Norway’s crown could be the next alternative, particularly against the euro. The Bank of Canada kept interest rates unchanged as it expects business investment and consumer spending to help the economy grow in the second half of the year. Call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro made gains versus the dollar as well as maintaining Tuesday’s large gains against the Swiss franc. A ruling in the German Constitutional Court which discarded all lawsuits targeted to block German participation in Euro zone bailouts also helped the common currency yesterday. German industrial output came in better than expected as well. Despite these positive glimpses, it is not enough to ease worries over the Euro zone debt crisis. Investors still view the euro as vulnerable and predict it will struggle in coming months. Our today is the European Central Bank interest rate decision where we could see rates being left on hold at 1.5%. Call in now for a quote.
In the US, the US dollar fell against the euro, terminating its longest rally since April 2010. The dollar fell by 0.3% versus the euro and 0.4% against the yen. Today is the long awaited meeting between President Obama and Congress. Their live meeting will propose getting rid of that worrying 9.1% unemployment rate and put forth new methods for increasing jobs. They will also discuss ways of boosting US economic growth which could result in the implementation of drastic tax cuts. Issue raised in this meeting will play a significant role in Obama’s run for re- election in 2012. Call in now for a rate.
Elsewhere, commodity currencies such as the Australian made significant gains. The Aussie dollar rose 1.2% versus the US dollar as data showed that the Australian economy grew rapidly in four years. Investors are now expressing vast amounts of worry over where the new safe haven is. There is speculation that Norway’s crown could be the next alternative, particularly against the euro. The Bank of Canada kept interest rates unchanged as it expects business investment and consumer spending to help the economy grow in the second half of the year. Call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Wednesday, 7 September 2011
Sterling fell to a two month low against the US dollar yesterday and after four days of gains also weakened against the euro. But sterling did gain by 8% against the Swiss franc after the Swiss Central bank imposed a ceiling on the franc in an effort to help their economy. Data from the British Retail Consortium showed a 0.6% drop in retail sales compared to this time last year. The Bank of England (BoE) is due to meet tomorrow to discuss the future of UK interest rates – expectations are they will remain at a record low of 0.5%. There is a possibility of more quantitative easing measures given the state of the UK economy. Out today are manufacturing and industrial figures. Call in now for a quote.
In the Euro zone, the euro rocketed against the Swiss franc by 9% after the Swiss central bank enforced a target rate of CHF1.20/€1. Euro zone GDP figures showed growth was down 2.4% from last year but grew marginally in the second quarter. Household consumption data also came in weaker than expected, falling for the first time in almost two years. This data has not helped the growing concerns over the Euro zone debt crisis. Out today is German industrial data which will give a good indication of the country’s economic expansion. This can cause considerable movements, so call in now for a rate.
The US dollar had a mixed day yesterday. It hit an eight week low versus the euro, but strengthened 9.1% against the Swiss franc. Despite better than expected figures from the US services sector for August, US stocks fell due to concerns that the European debt crisis is causing the global economy to slow down. Until the crisis comes to an end, there will be continuous turbulence in the currency market. Out today there are US Mortgage Application figures which if are better than expected, will indicate an increase in household income as well as possible economic growth. Call in now to get a quote.
Elsewhere, The Swiss National Bank sent shockwaves through the currency markets after imposing a minimum exchange rate on the Swiss franc. This drastic decision has not happened in more than three decades which shows the country’s determination to keep the Swiss franc at a low and curb inflation. This caused great euro and sterling strength. Currency movements are becoming unpredictable so call in now for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro rocketed against the Swiss franc by 9% after the Swiss central bank enforced a target rate of CHF1.20/€1. Euro zone GDP figures showed growth was down 2.4% from last year but grew marginally in the second quarter. Household consumption data also came in weaker than expected, falling for the first time in almost two years. This data has not helped the growing concerns over the Euro zone debt crisis. Out today is German industrial data which will give a good indication of the country’s economic expansion. This can cause considerable movements, so call in now for a rate.
The US dollar had a mixed day yesterday. It hit an eight week low versus the euro, but strengthened 9.1% against the Swiss franc. Despite better than expected figures from the US services sector for August, US stocks fell due to concerns that the European debt crisis is causing the global economy to slow down. Until the crisis comes to an end, there will be continuous turbulence in the currency market. Out today there are US Mortgage Application figures which if are better than expected, will indicate an increase in household income as well as possible economic growth. Call in now to get a quote.
Elsewhere, The Swiss National Bank sent shockwaves through the currency markets after imposing a minimum exchange rate on the Swiss franc. This drastic decision has not happened in more than three decades which shows the country’s determination to keep the Swiss franc at a low and curb inflation. This caused great euro and sterling strength. Currency movements are becoming unpredictable so call in now for a live rate.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Tuesday, 6 September 2011
Sterling depreciated by 0.7% against the US dollar yesterday, hitting the lowest level since mid-July but gained slightly against the euro. The UK Purchasing manager’s index came in lower than expected indicating orders for materials are likely to be low this month. Although this figure may not seem important initially, it has in the past been seen to match the growth/ decline of the UK economy so it is good to keep an eye on it. A stalling UK economy seems to be of growing concern and speculation over further quantitative easing has returned once again. As long as investors continue to suspect this, sterling will be held back. Out on Wednesday there are figures for industrial production which measure productivity in UK factories and mines. Call in now for a quote.
In the Euro zone, the euro had a turbulent day falling to a one month low against the US dollar as Italian and Greek fiscal issues continue to grow.
Euro zone retail figures remained the same and came in as expected, a good sign as the Euro zone is in need of stable household consumption to recover. However, European stocks fell after an unexpected decrease in support for Angela Merkel’s party, demonstrating the German public’s discontent of having to contribute to euro zone bailouts. Out today are GDP figures, this may cause significant volatility so call in for a quote.
The US dollar had a relatively stable day versus the euro and sterling as demand for safe haven currencies increased. Despite this, a report showed that the US dollar had weakened by 11% against a basket of nine major currencies. Concerns over the US entering another recession is still a probing issue for investors, particularly after Friday’s abysmal unemployment data. Investors await Thursday’s conference between President Obama and Congress as they are expected to put forth new proposals for US job growth. Call in now for a rate.
Elsewhere, the South African rand fell to its lowest in a week against the US dollar. The Australian and New Zealand dollar also fell against the US dollar by 1%. Out on Wednesday there is Australian GDP figures and Japan’s interest rate decision. This may cause significant movement so call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro had a turbulent day falling to a one month low against the US dollar as Italian and Greek fiscal issues continue to grow.
Euro zone retail figures remained the same and came in as expected, a good sign as the Euro zone is in need of stable household consumption to recover. However, European stocks fell after an unexpected decrease in support for Angela Merkel’s party, demonstrating the German public’s discontent of having to contribute to euro zone bailouts. Out today are GDP figures, this may cause significant volatility so call in for a quote.
The US dollar had a relatively stable day versus the euro and sterling as demand for safe haven currencies increased. Despite this, a report showed that the US dollar had weakened by 11% against a basket of nine major currencies. Concerns over the US entering another recession is still a probing issue for investors, particularly after Friday’s abysmal unemployment data. Investors await Thursday’s conference between President Obama and Congress as they are expected to put forth new proposals for US job growth. Call in now for a rate.
Elsewhere, the South African rand fell to its lowest in a week against the US dollar. The Australian and New Zealand dollar also fell against the US dollar by 1%. Out on Wednesday there is Australian GDP figures and Japan’s interest rate decision. This may cause significant movement so call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Monday, 5 September 2011
Sterling fell against the US dollar on Friday, hitting a low of $1.6172/£1 as US data revealed that no new US jobs were created in August. Friday’s data also showed a fall in UK construction activity- the slowest expansion since December 2010. This has increased signs that the UK economy is making a sluggish recovery. There has also been further speculation that the Bank of England may need to put in place more quantitative easing which could damage sterling further. Out today is PMI economic activity data and if this data comes in weaker than expected, we could see more selling. Call in now for a quote.
In the Euro zone, the euro fell 0.4% against sterling and also hit a 3 week low versus the US dollar, shedding almost 2.1%. Concerns over the euro zone debt crisis expanded as dissatisfaction about Greece’s lack of progress with solving the debt issue has increased amidst the EU and IMF. Investors have picked up on this, making the common currency less appealing. Retail sales figures are out today which will give a clear indication of how spending and consumer confidence in the region is doing. Call in now for a live rate.
In the US, the dollar slipped 2.6% against its safe haven competitor the Swiss franc. This was largely due to weak employment data in the US where the jobless rate held at 9.1% with no new jobs added for the month of August. As the US economy seems to be at the brink of stalling, the likelihood of the Federal Reserve adopting a third round of quantitative easing has returned to the table. Market players are waiting for Thursday’s meeting where President Obama and Congress will discuss what measures to take in order to boost the US economy and create more jobs. Financial markets in the US are closed due to Labor Day holiday today. To protect yourself from adverse currency movements, call in now for a rate.
Elsewhere, the Swiss franc made significant gains against a majority of its peers, particularly the euro where it almost hit a record weekly high. A report on Friday showed the Swiss franc has risen by 13% this year and has been the best performer among 10 developed market currencies. Commodity currencies such as the Australian dollar made gains on Friday. The rand declined 1% against the US dollar after US employment data came in weaker than expected. Call in now for a live exchange rate
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro fell 0.4% against sterling and also hit a 3 week low versus the US dollar, shedding almost 2.1%. Concerns over the euro zone debt crisis expanded as dissatisfaction about Greece’s lack of progress with solving the debt issue has increased amidst the EU and IMF. Investors have picked up on this, making the common currency less appealing. Retail sales figures are out today which will give a clear indication of how spending and consumer confidence in the region is doing. Call in now for a live rate.
In the US, the dollar slipped 2.6% against its safe haven competitor the Swiss franc. This was largely due to weak employment data in the US where the jobless rate held at 9.1% with no new jobs added for the month of August. As the US economy seems to be at the brink of stalling, the likelihood of the Federal Reserve adopting a third round of quantitative easing has returned to the table. Market players are waiting for Thursday’s meeting where President Obama and Congress will discuss what measures to take in order to boost the US economy and create more jobs. Financial markets in the US are closed due to Labor Day holiday today. To protect yourself from adverse currency movements, call in now for a rate.
Elsewhere, the Swiss franc made significant gains against a majority of its peers, particularly the euro where it almost hit a record weekly high. A report on Friday showed the Swiss franc has risen by 13% this year and has been the best performer among 10 developed market currencies. Commodity currencies such as the Australian dollar made gains on Friday. The rand declined 1% against the US dollar after US employment data came in weaker than expected. Call in now for a live exchange rate
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Friday, 2 September 2011
This week we had a string of disappointing economic data which undermined sterling as worries over the UK recovery continued. House prices continue to fall, as did service sector and manufacturing activity. Interest rates are expected to remain at a record low of 0.5% for some time yet. To protect yourself from any adverse currency movements, call in for a quote.
In the Euro zone, the euro had a rocky week against the US dollar after the Federal Reserve indicated another possible round of quantitative easing last Friday. The euro extended its losses against the US dollar yesterday even after the release of weak US data. The euro weakened against sterling after manufacturing activity in the Euro zone shrank more than expected. Germany had the strongest manufacturing figures with 50.9, whilst Greece had the weakest at 43.3. Germany also saw its new export orders decline which has increased concerns over the euro zone economy. Out today is Euro zone PPI Call in now for a quote.
The US dollar gained against a majority of its trading partners today after better than expected factory data. With an increase of 2.4% in factory activity, there is speculation that the Federal Reserve may not take further steps to stimulate the US economic recovery. There was also slight fall in US prospective unemployment figures yesterday with the national unemployment rate declining by 9.1%. Out today is non- farm pay rolls and further unemployment data. These figures may cause significant movement, so call in now for a rate.
Elsewhere, the Swiss franc fell by 0.3% against the US dollar after yesterday’s Swiss GDP data indicated a 0.4% slow down in growth. This is likely to be a result of a steep decline in Switzerland’s investments and also a drop in the country’s exports. Yesterday’s data also showed China’s PMI bounce back by 0.2% from July. China remains adamant that its main priority is to control inflation and meet its inflation target of 4%. An aim they would like to attain in the second half of this year. Call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
In the Euro zone, the euro had a rocky week against the US dollar after the Federal Reserve indicated another possible round of quantitative easing last Friday. The euro extended its losses against the US dollar yesterday even after the release of weak US data. The euro weakened against sterling after manufacturing activity in the Euro zone shrank more than expected. Germany had the strongest manufacturing figures with 50.9, whilst Greece had the weakest at 43.3. Germany also saw its new export orders decline which has increased concerns over the euro zone economy. Out today is Euro zone PPI Call in now for a quote.
The US dollar gained against a majority of its trading partners today after better than expected factory data. With an increase of 2.4% in factory activity, there is speculation that the Federal Reserve may not take further steps to stimulate the US economic recovery. There was also slight fall in US prospective unemployment figures yesterday with the national unemployment rate declining by 9.1%. Out today is non- farm pay rolls and further unemployment data. These figures may cause significant movement, so call in now for a rate.
Elsewhere, the Swiss franc fell by 0.3% against the US dollar after yesterday’s Swiss GDP data indicated a 0.4% slow down in growth. This is likely to be a result of a steep decline in Switzerland’s investments and also a drop in the country’s exports. Yesterday’s data also showed China’s PMI bounce back by 0.2% from July. China remains adamant that its main priority is to control inflation and meet its inflation target of 4%. An aim they would like to attain in the second half of this year. Call in now for a quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
Thursday, 1 September 2011
Sterling had a steady day on Wednesday. After losing ground on Tuesday it managed to strengthen slightly against both the euro and the US$. Gains in U.K. bonds have gained this year are as a result of investors seeking safety from Europe’s turbulent debt crisis. UK economic data has disappointed in August which has made any increases in UK interest rates highly unlikely in what remains of 2011 and possibly 2012. Out today is Manufacturing PMI followed by construction data on Friday. Call in now for a rate.
The euro suffered yesterday, especially against commodity currencies, after low demand for Italian government bonds undermined the euro zones efforts to get on top of its debt. Euro zone inflation remained unchanged at 2.5% in August from July, whilst July Euro zone unemployment stood still at 10%. The number of people unemployed rose for a third consecutive month. Austria’s unemployment rate was the lowest, whilst Spain was the highest once again, increasing to 21.2%. Out today is German PMI and Euro zone PMI. Call in now for a live price.
The US dollar received a brief boost against sterling and the euro after better than expected factory sector data. US factory orders rose by 2.4% in July compared to June - more than economists had forecasted. Additionally, US ADP employment showed an increase of 91, 000 private sector jobs. This data will definitely add expectation to the Federal Reserve’s meeting this month as the Chairman of the Federal Reserve has indicated he may use fresh methods to boost the US recovery. Call in now for a rate.
Elsewhere, high yielding currencies are beginning to look more appealing to investors as optimism increases for global growth. Canada’s dollar rose against the US dollar yesterday after data indicated the nation’s economy grew 0.2% from the previous month. The Swiss franc also made significant gains against the euro and the US dollar, with the US dollar dropping by 1.9% against the Swiss franc. Call in now to protect yourself from adverse currency movements.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro suffered yesterday, especially against commodity currencies, after low demand for Italian government bonds undermined the euro zones efforts to get on top of its debt. Euro zone inflation remained unchanged at 2.5% in August from July, whilst July Euro zone unemployment stood still at 10%. The number of people unemployed rose for a third consecutive month. Austria’s unemployment rate was the lowest, whilst Spain was the highest once again, increasing to 21.2%. Out today is German PMI and Euro zone PMI. Call in now for a live price.
The US dollar received a brief boost against sterling and the euro after better than expected factory sector data. US factory orders rose by 2.4% in July compared to June - more than economists had forecasted. Additionally, US ADP employment showed an increase of 91, 000 private sector jobs. This data will definitely add expectation to the Federal Reserve’s meeting this month as the Chairman of the Federal Reserve has indicated he may use fresh methods to boost the US recovery. Call in now for a rate.
Elsewhere, high yielding currencies are beginning to look more appealing to investors as optimism increases for global growth. Canada’s dollar rose against the US dollar yesterday after data indicated the nation’s economy grew 0.2% from the previous month. The Swiss franc also made significant gains against the euro and the US dollar, with the US dollar dropping by 1.9% against the Swiss franc. Call in now to protect yourself from adverse currency movements.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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