Sterling remained fairly range bound yesterday against the majority of currencies; but, weakened off against the US dollar and Japanese yen dropping to a 2.5 month and 3.5 month low respectively. On the data front, the Confederation of British Industry (CBI) survey on the relative level of current sales volume came in much better than expected providing a small respite from the overwhelmingly negative sentiment currently felt in the UK. With little significant data out today other than the monthly change in net lending to individuals, the market will look elsewhere for influence; so, call in now for the latest update and a live quote.

The euro weakened to fresh lows against the US dollar yesterday dropping to the lowest level since July 2010 following the news that the credit rating agency Egan-Jones downgraded Spain for the second time in just two weeks. Furthermore, the announcement that the Bank of Spain governor is to leave his role a month earlier than anticipated following the handling of the publicly bailed out ‘Bankia Bank’ caused jitters in the market. Today, the Italian bench mark 10 year bond auction will give a clear indication of investors sentiment towards the nation and a high yield could cause the euro to weaken further as the fears of contagion become more evident. Moreover, the ECB president is also speaking and should provide some further insight on the state of the Eurozone economy; so, call in now for the latest news and a live quote.

The US dollar ended the day fairly strong as news from Europe filtered through to the markets. Data released showed that the Conference Board Consumer Confidence survey has missed markets expectations yesterday dropping to a 4 month low. Pending home sales data released today is the main news on the agenda; so, call in now for the latest news and a live quote.

Elsewhere, the Japanese yen performed relatively well yesterday due to its safe haven status. Australian retail sales were released first thing this morning and the Bank of Japan’s governor was also speaking. The only other data to note that is released today are inflation figures from Canada. Call in now for the latest news and a live quote.


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Sterling strengthened slightly against the US dollar and Japanese yen yesterday, whilst weakening off against the commodity backed currencies as risk appetite drove the market in the early hours due to the latest news coming from Greece. It was a very quiet day for data across the globe generally yesterday as the US and much of Europe was enjoying a bank holiday. The Confederation of British Industry (CBI) survey on the relative level of current sales volume is the only data of note released form the UK today; so, call in now for the latest update and a live quote.

The euro recovered yesterday morning as market fears eased somewhat after opinion polls in Greece suggested that the pro bailout New Democracy party would win the vote on June 17th; however, the party needs to win a majority vote or form a pro-bailout coalition government otherwise it still seems likely that Greece could leave the euro. However as the day progressed concerns about Spanish debt came to the fore as yields on longer term Spanish debt increased to over 6.5%. 7% is viewed as the level at which government debt repayments become unsustainable. It will be another quiet day for data in the Eurozone today, with preliminary German inflation data the main news on the agenda; so call in now for the latest update and a live quote.

The US dollar weakened off against the majority of currencies yesterday morning as risk appetite returned to the market. The US markets were shut for the Memorial Day holiday yesterday; as a result, very little data was released. Out today, the main data on the agenda globally is the Conference Board Consumer Confidence survey which has caused volatility in the past; so, call in now for the latest news and a live quote.

Elsewhere, the commodity backed currencies performed well yesterday as risk aversion eased and risk appetite came back into the market. Japanese retails sales and household spending figures were released first thing this morning; however, very little other data is released throughout the day; so, call in now for the latest news and a  live quote.


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Sterling remained fairly range bound on Friday due to a relatively light day on the data front across the world. The main data out of the UK this week is the Manufacturing Purchasing Managers' Index (PMI) as well as the bench mark 10 year bond auction. With a bank holiday in much of Europe and the US, trading volumes will be down on Monday; but, there is still the potential for a lot of volatility so call in now for the latest news and a live quote.

The euro had another poor day on Friday reaching fresh lows against the US dollar as it was suggested that the Spanish Bank Bankia will need approximately double the 9 billion euros that was originally stated that it would need to restructure its debt. On the data front on Friday, German consumer sentiment came in as expected. There is a bank holiday across much of Europe on Monday. This week, Ireland will vote on a referendum to accept or reject the European Union's Stability Treaty. There will also be an Italian bench mark 10 year bond auction. The focus this week will remain firmly on any news out of Greece and Spain, whilst  the Irish vote will also be watched carefully by investors; so, call in now for the latest news and a live quote.

The US dollar performed well again on Friday as risk aversion drove the market. Data released showed the University of Michigan consumer sentiment came in above expectations reaching a 4 year high. There is a bank holiday in the US on Monday. The main focus this week will be on the highly influential Non-Farm pay rolls employment data released on Friday. Other data released this week includes US consumer confidence, pending home sales, manufacturing PMI, unemployment claims and preliminary GDP. Call in now for the latest news and a live quote.

Elsewhere, the New Zealand dollar was one of the best performing currencies following the release of the annual budget. This week, a raft of data from Australia includes retail sales, building approvals and private capital expenditure; business confidence figures from New Zealand; GDP data from Canada; Chinese manufacturing PMI; and Swiss retail sales. Call in now for the latest news and a live quote.


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Sterling strengthened against the euro and the commodity backed currencies; but, weakened against the US dollar and Japanese yen as risk aversion drove the market. Data released yesterday showed a sharp drop in retail sales figures to -2.3% when only a -0.8% figure was expected. The Bank of England’s policy meeting minutes revealed that the MPC members voted 8-1 to keep quantitative easing unchanged despite the deterioration of the Eurozone. Revised GDP data released today could cause a lot of volatility if the figures differ significantly from the widely disputed preliminary figures that showed the UK was back in a technical recession; so, call in now for the latest news and a live quote.

The euro was extremely weak yesterday reaching a 22 month low against the US dollar as fears that Greece could soon leave the euro were reaching fever pitch as rumours started to circulate that EU policy makers have now started to put contingency plans in place. German bond yields (treaded as a safe haven) have also reached an all-time low reaffirming the markets fear for the so called "Grexit” (Greek exit). German and Euro wide manufacturing Purchasing Managers' Index (PMI) figures are released today; furthermore, German business climate data will go some way to show the state of the Eurozone economy; however, expect any news from Greece to have a much bigger impact on the market. Call in now for the latest news and a live quote.

The US dollar performed well yesterday driven by investors seeking “safer havens” following the on-going developments in Europe. On the data front, new home sales figures released yesterday came in above markets expectations. Out today, the main news on the agenda is the weekly change in unemployment claims and figures showing the change in the total value of new purchase orders placed with manufacturers for durable goods. With the fears over the Eurozone continuing to dominate investor’s minds, we will have to see how long this strong dollar trend continues; call in now for the latest news and a live quote.

Elsewhere; like the US dollar, the Japanese yen performed well today due to its safe haven status and following the Japanese central banks decision to not do anything at its monetary policy meeting. The annual budget for New Zealand was released first thing this morning; furthermore, Chinese PMI was also released. Call in now for the latest news and a live quote.


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Sterling came under pressure yesterday; but, recovered in the afternoon as the International Monetary Fund (IMF) said that the UK needs to consider injecting more money into the economy and potentially cutting interest rates to stimulate growth. Furthermore, data released in the UK showed that inflation has fallen to a two-year low, dropping from 3.5% to 3.0%. Both this month's Monetary Policy Committee meeting minutes and monthly retail sales data are released today with the former potentially revealing the central banks intention to increase its accommodative monetary easing. If more members have voted for further quantitative easing than expected, then sterling could come under pressure today; so, call in now for the latest news and a live quote.

The euro was struggling yesterday due to the news that the Organisation for Economic Co-operation and Development (OECD) had downgraded the growth forecasts in the EU and for Spain and Greece in particular. The EU economic summit should shed some light on any potential measures that could be implemented to fight the debt crisis and boost growth; however, with the German Chancellor Merkel and French President Hollande having very different opinions on the right cause of action, we will have to see what the outcome will be. Call in now for the latest news and a live quote.

The US dollar performed well yesterday as risk aversion drove the markets due to the OECD and IMF announcements underlining a weak global economy. Existing home sales figures released yesterday came in above markets expectations recovering from last month's decline. New home sales figures will be the main data on the agenda and investors will look for more positive data mirroring yesterday’s release; so, call in now for a live quote and the latest news.

Elsewhere, Fitch (one of the big three credit rating agencies) downgraded Japan’s sovereign rating to A+ with a negative outlook which caused the yen to weaken against the majority of currencies despite its traditional “safe haven” status. The OECD made the suggestion that Canada should look to raise interest rates to counteract inflationary pressure. The official call rate from Japan and its monetary policy statement was announced first thing this morning; furthermore, retail sales figures from Canada are also released today. Call in now for the latest news and a live quote.

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Sterling was fairly range bound yesterday as very little data was released globally; but, weakened to a 2 week low against the euro. Consumer Price Index (CPI) figures released today will show the change in the price of goods and services purchased by consumers and are expected to show a drop from 3.5% to 3.1%. Furthermore, the Bank of England’s inflation letter that follows will provide further insight into the potential for more quantitative easing in the near term. Other data to be released includes the Public Sector Net Borrowing figures which show the difference in value between spending and income for public corporations, the central government, and local governments during the previous month. Call in now for the latest news and a live quote.

The euro trended weaker again yesterday as fears surrounding the future of Greece continued to dominate the minds of traders. The Spanish finance minister suggested that Spanish GDP figures in Q2 would show another contraction underlining the poor state of the economy. Consumer confidence is the main release in what is a light data for data in Europe. As per usual, the Spanish banks solvency troubles and the Greece situation will be centre stage in the financial world tomorrow as investors look to see if any sudden developments may occur. Call in now the latest news and a live quote.

The US dollar maintained its relative strength against the majority of currencies due to its “safe haven” status yesterday. A member of the Federal Open Market Committee (FOMC) suggested that further quantitative easing should still be considered and should be implemented if the economy continues to deteriorate. Existing home sales figures will be the main data on the agenda, whilst a member of the FOMC is also speaking. Call in now for a live update and a live quote.


Elsewhere, Chinese policy makers have suggested that they are willing to take further measures to boost its economy if deemed necessary. Quarterly inflation expectations from New Zealand were released first thing this morning; but, very little other data is released today. Call in now for a live price and the latest news.

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Sterling strengthened against the commodity backed currencies on Friday; but, weakened off against the majority of others as one of the members of the Monetary Policy Committee suggested that further Quantitative Easing could be required to prop up the UK economy. Revised GDP data this week will show if the UK economy is actually back in recession as many economists suspect the preliminary figures released were inaccurate. The Bank of England’s inflation letter, Monetary Policy Committee meeting minutes and monthly retail sales data could cause a lot of volatility this week by providing insight into the state of the UK’s economy and any action that could be taken in the next couple of months. Call in now for the latest news and a live quote.

The euro recovered against the majority of currencies on Friday despite the continued worry about a potential Greek exit. Manufacturing and services Purchasing Managers' Index (PMI) data is released this week; furthermore, business climate data from Germany showing the sentiment of manufacturers, builders, wholesalers and retailers will go some way to show the state of the euro economy which is extremely fragile at present. Call in now for the latest news and a live quote.

The US dollar remained relatively strong on Friday compounded by the markets fear about the future of the euro. The Facebook stock market listing dominated the markets on Friday as the world looked to see if the largest ever internet listing could increase risk appetite in the global markets. On the data front this week, new and existing home sales figures are released, as well as durable goods orders and unemployment claims. Call in now for the latest update and a live quote.

Elsewhere, the main data released on Friday was the Canadian Consumer Price Index (CPI) figures which showed a 0.4% rise in the change in the price of goods and services purchased by consumers.  Inflation expectations and the annual budget for New Zealand is released this week, manufacturing PMI data from China, Canadian retail sales data and the official interest rate from Japan will also be announced. With a lot of data released this week, there is the potential for a lot of volatility; so, call in now for the latest news and a live quote.

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Sterling hit fresh highs against the euro this week as the markets continued to speculate that Greece could soon leave the euro before weakening off against the majority of currencies yesterday. The Bank of England inflation report revealed a downgrade of its growth forecasts for the UK economy largely due to the fears spreading from the Eurozone. Other data released also revealed that the UK posted a slightly larger trade deficit than anticipated. With very little data released globally today, the markets will look to insight form the G8 meetings and any news from Europe for influence; so, call in now for an update and a live quote.

The euro came under a lot of pressure this week as fears spread that Greece could soon leave the Eurozone. As no government has been formed in Greece, another election has been scheduled for June 17th. Moody’s has downgraded 16 Spanish banks, and Fitch has also downgraded Greece causing further concern for investors. With no data out of the Eurozone today, the global markets will keep a very close eye on any news coming from Spain or Greece as fears surrounding the single currency continue to dominate the news. Call in now for a live update and the latest news.

The US dollar was a strong performer this week driven by investors seeking a “safe haven” for their money. US industrial production increased 1.1% in April, the strongest months growth since December 2010. Rumours started to spread that the Federal Bank could soon look to inject more money into the economy if it loses momentum. We will have to see how long the dollar will continue to strengthen due to its “safe haven” status. Call in now for a live quote and the latest news.

Elsewhere, the commodity backed currencies struggled this week and the Japanese yen strengthened as risk aversion drove the market. Core Canadian Consumer Price Index (CPI) figures released today will show the change in the price of goods and services purchased by consumers. Call in now for a live update and a live quote.

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Sterling suffered a setback as the Bank of England cut its growth forecasts and noted that events in the Euro zone increased risk of the UK economic recovery faltering. Not a surprise given events in the southern states of the euro zone and our dependency on the Euro zone as a trading partner. A bit like Canada being very dependent on the US economy. This has raised the spectre of further quantitative easing in the UK which is negative for sterling. One piece of good news was that unemployment had fallen. Call in now to find out the latest news and rates in these highly volatile times.

The euro is still under pressure. Although it gained ground against sterling it continued to lose ground against the US$ dipping below US$1.27/€1 at one stage. The problems in Greece continue with another general election having to be called. It also appears that the European Central Bank is limiting the funds being made available to certain Greek banks from The European Stability Fund which is increasing tension. So not a pretty picture and the debt crisis could well become a currency crisis. Call in now for the latest rates.

US industrial production increased 1.1% in April, the strongest months growth since December 2010. Hopefully this positive data will feed through to the employment figures especially as it is expected to continue. Housing starts also increased on an annualised basis by 2.6% which is another positive. So in comparison to the UK and Europe the US economy is moving forward which together with the US$’s safe haven status is supportive of the US$. For the latest rate get in contact now.

Elsewhere the commodity backed currencies have enjoyed a brief respite against sterling gaining ground on the back of possible further quantitative easing in the UK.

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Sterling had a mixed day today weakening off against the majority of currencies in the morning before strengthening against most in the afternoon. Data out yesterday revealed that the UK posted a slightly larger trade deficit than anticipated. The Bank of England inflation report will be the main focus today as investors look for signs that further quantitative easing could be implemented in the upcoming months. Other data released includes the change in the number of people claiming unemployment benefits; so call in now for the latest quote and a live news.

The euro suffered further losses today as it was confirmed that Greece is set to have a new election in June after it failed to form a government despite multiple efforts. The euro started the day on a more positive note as GDP figures came in flat when a contraction was expected. This was largely to do with the much better than expected German preliminary GDP figures. Contrary to this, German ZEW economic sentiment figures came in much worse than the markets anticipated. Greece will form a temporary government today and whilst Consumer Price Index (CPI) data is released, the global focus will remain firmly on Greece; so call in now for the latest news and a live quote.

The US dollar strengthened further still with the markets extremely risk adverse due to speculation of a Greek exit from the euro. A bad day on the data front showed that retail figures had dropped by more than expected and figures depicting the change in the price of goods and services purchased by consumers came in flat. Out today, figures showing the number of new residential building permits issued during the previous month; as well as the Federal Open Market Committee (FOMC) minutes from its most recent meeting will provide some insight on the state of the world’s largest economy. Call in now for a live quote and the latest news.

Elsewhere, the Reserve Bank of Australia released its latest monetary policy minutes yesterday, stating their belief that the rate cut in May was necessary to stimulate growth. Data from Australia and Japan was released over night and manufacturing sales from Canada is released later on today. Call in now for the latest update and a live quote


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Sterling broke through more resistance yesterday hitting 1.2550 against the euro and strengthened against the majority of other currencies. Trade balance data is the main release on the agenda as the world looks to Europe and the US for influence. Call in now for the latest news and a live quote.

The euro performed poorly yesterday as the markets continued to speculate that Greece could soon leave the euro. The Greece political parties are still struggling to form a government which is unsettling the market. Spanish and Italian bond yields have risen once again following Moody’s comments that Spain’s new plan for banks to hold more capital will increase the debt burden on the government. On the data front, monthly industrial production came in much worse than expected dampening the negative sentiment in the region further still. French, German, Italy and euro-wide GDP figures are released today; as well as the highly influential German economic sentiment figures. With so much uncertainty in the Eurozone, the euro remains under a lot of pressure so call in now for the latest news and a live quote.

The US dollar performed relatively well yesterday driven by a risk adverse market due to the on-going developments that Europe and Greece in particular is experiencing. A busy day for data includes monthly retail sales figures and figures depicting the change in the price of goods and services purchased by consumers; so call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was one of the best performing currencies, mirroring the US dollar’s strength (whilst strengthening against the US dollar) due to its safe haven status. Retail sales figures from New Zealand were much worse than expected weakening against the majority of currencies as investors speculate that the Reserve Bank of New Zealand may look to cut interest rates in the short term. The Reserve Bank of Australia released its monetary policy meeting minutes last night; but, there is very little other data out today as the markets look towards the on-going developments in Europe and the data release in the US for influence. Call in now for a live quote and the latest news.

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Sterling briefly broke through the 1.2500 level against the euro on Friday morning; before weakening off against the majority of currencies as Nationwide consumer confidence figures released were worse than expected and the change in the price of goods and raw materials purchased by manufacturers dropped by a lot more than anticipated. The Bank of England inflation report will be the main focus this week as investors will look for signs that further quantitative easing could be implemented in the upcoming months. Other data released includes the change in the number of people claiming unemployment benefits and there is also a benchmark 10 year bond auction. We will have to see if sterling can maintain its 3.5 year high against the euro this week. Call in now for a live update and a live quote.

The euro had a mixed day on Friday as Spain demanded that its banks hold more capital to guard against “toxic debts” whilst Greece continues to try and form a government. Spanish bond yields have risen once more as fears surrounding the country continue to escalate. Euro zone GDP data is released this week; benchmark 10 year bond auctions in Italy, Germany and Spain; and economic sentiment figures from Germany. Whilst the market will keep an eye on the data released, any news from Greece has the potential to cause a lot of volatility; so call in now for the latest news and a live quote.

The US dollar was relatively strong again on Friday driven by investors seeking a “safe haven” for their money. On the data front, figures released showed that the change in the price of finished goods and services sold by producers dropped by more than expected; but, consumer confidence was better than the markets had predicted. The main releases this week includes growth and inflation data; retail sales figures and unemployment claims; so, call in now for the latest news and a live quote.

Elsewhere, the Canadian dollar was one of the best performing currencies as unemployment data released was much better than expected. Disappointing data from China caused yet more fear in the global markets as the world’s second largest economy seems to be struggling once more. The Reserve Bank of Australia meeting minutes are released this week and any further indication that interest rates could be cut in the short term could cause the Australian dollar to weaken off again. The other main releases include inflation data from Canada, data showing the change in the price of goods and raw materials purchased by manufacturers in New Zealand and Japanese GDP figures. Call in now for the latest news and a live quote.

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Sterling hit new highs of 1.2495 against the euro this week, challenging the psychological ceiling of 1.25 as fears surrounding the Eurozone dominated the global markets. The main data released out of the UK this week was the Bank of England’s decision to keep interest rates and the asset purchase facility unchanged. Sterling was buoyed by the news that the central bank had not felt the need to inject any more money into the economy despite the UK being in a technical recession. Data showing the change in the price of goods and raw materials purchased by manufacturers is released today; but, the market is trading much more on risk sentiment compared to the actual data being released at present. Call in now for the latest news and a live quote.

The euro suffered heavy losses this week as fears surrounding the effect the French election result may have on the makeup of the Eurozone, fears that Greece could soon leave the euro and fears over the state of the Spanish economy gripped the market. The Greek elections results caused doubts that the Greece would stay in the euro much longer as anti-austerity parties took over a great deal of power from the two main pro-bailout parties. To date, no coalition has been formed; but, another election in June is looking ever more likely which would mean that a coalition may be formed between parties who want to tear up the current austerity deal. The EU will announce its economic forecasts for the 27 member states today which could provide more volatility if the predictions are significantly different from the public's perception. With so much uncertainty in the market, the future of the Eurozone is very unclear, call in now for the latest news and a live quote.

The US dollar was relatively strong this week as investors sought “safer havens” following the unnerving news coming from Europe. On the data front jobless claims came in as expected whilst trade balance data showed the deficit widened by more than expected. Data out today includes the change in the price of finished goods and services sold by producers and consumer sentiment figures; so, call in now for the latest news and a live quote.

Elsewhere, the commodity backed currencies were the worst performing currencies this week led by a global “flight to safety” due to the on-going developments in the Eurozone. The Japanese yen was particularly strong due to its safe haven status. The Australian dollar recovered some of its early loses on Thursday as unemployment data came in much better than expected somewhat  reducing the necessity of another interest rate cut in the short term. Chinese trade balance figures showed a sharp drop in imports stoking fears that growth is slowing in world’s second largest economy, with inflation data released early this morning. Canadian unemployment data is the other main release on the agenda; so call in now for the latest quote and the latest news.

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Sterling hit fresh highs of 1.2460 against the euro today as fears that Greece could soon leave the euro gripped the market. On the data front, the British Retail Consortium retail sales monitor dropped to -3.3% which kept sterling fairly range bound against the majority of currencies. The Bank of England’s rate decision is the biggest piece of news on the agenda today, with the interest rate and the asset purchase facility expected be kept unchanged; but, there is a slim chance that further quantitative easing could be implemented. Monthly manufacturing production figures are also released today; with a lot of data released and the developments in Europe driving the market there is the potential for a lot of volatility so call in for the latest news and a live quote.

The euro fell to new lows against sterling and the US dollar as rumours circulated across the financial markets that the EU may withhold a Greek bailout payment due today; although, these rumours turned out to be unfounded. The German finance minister stated that it cannot force Greece to stay in the Eurozone if it does not want to causing further speculation that Greece could soon leave the Euro. Furthermore, a Greek government is still yet to be formed meaning another election in June seems ever more likely; in theory, this would mean Greece would fail to adhere to its bailout commitments and in turn default on its debt. The ECB monthly bulletin and French industrial figures will also be released; however, the focus will remain firmly on Greece; so call in now for the latest news and a live quote.

The US dollar was relatively strong again today, buoyed by its safe haven status with the Eurozone economic crisis entering a new phase. A busy day in the US includes trade balance figures, unemployment’s claims and the Chairman of the Federal Bank is also speaking. The US is still expected to lead the global economy; as a result, all releases from the US are watched closely by investors; so, call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was the stand out performer once more due to its safe haven status; whilst the commodity backed currencies struggled. A Swiss bond auction was well received offering much lower yields than the UK, the US and Europe, thus confirming its safe haven status amongst investors; we will have to see if the Swiss National Bank (SNB) can keep to its promise to uphold the €1.20/Chf1 peg which is under threat. Japanese current account and Australians unemployment figures were released late last night; whilst, Chinese and Canadian trade balance figures are also released today. Call in now for the latest update and the latest news.

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Sterling strengthened to fresh highs against the commodity backed currencies as risk aversion drove the market; whilst staying moderately range bound against the euro and weakening off against the US dollar. On the data front, housing price balance data was weaker than expected dropping to a six month low. With very little data out of the UK today, the market will look elsewhere for influence whilst looking toward the Bank of England’s rate decision on Thursday.  With the UK still in a technical recession, we will have to see how long it's “safe-haven” status against the European nations can last. Call in now for a live quote and the latest update.

The euro traded in a fairly similar trend to sterling today, weakening against the US dollar whilst strengthening against the commodity backed currencies as market fears in Europe have calmed to an extent. Data released today showed German industrial production rose by more than expected; however, the market is still trying to absorb the potential effects that the Greek and French election result could have on the Eurozone going forwards. German and French trade balance data is released today; but, the market will pay much closer attention to the developments in Greece as the left wing Syriza bloc party try to form a coalition who would then plan to tear up the ‘EU austerity deal’; call in now for the latest news and a live quote.

The US dollar performed well today as risk aversion drove the market strengthening against the majority of currencies. Out today, the main releases on the agenda will be the crude oil inventories, the bench mark 10 year bond auction and a member of the Federal Open Market Committee (FOMC) is also speaking. Call in now for the latest update and a live quote.

Elsewhere, the Japanese yen was strong today with investors flocking to “safe haven” currencies. The Australian and New Zealand dollar have been extremely weak today as the markets sell off positions in “riskier” currencies and Australia posted its largest trade balance deficit in more than two years. Canadian housing starts also showed an improvement this month. The Reserve Bank of New Zealand’s financial stability report was released late last night; but, very little other data is released today. Call in now for the latest news and a live quote.

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Sterling reached a 3 and a half year high against the euro yesterday of 1.2440 as election results in Europe caused yet more uncertainty in the region with the markets shut in the UK. On the data front on Friday, the Halifax House Price Index (HPI) came in much worse than expected. Boris Johnson has secured a new term as Major of London; however, the conservatives and liberal democrats suffered heavy losses in the local government elections with voters showing their disdain for the austerity measures the coalition government have implemented. The Bank of England’s rate decision this week is expected to be another non-event with the market widely anticipating that the interest rate and the asset purchase facility will be kept unchanged. Other data released this week includes Producer Price Index (PPI) and manufacturing production figures; so, call in now for the latest news and a live quote.

The euro has suffered heavy losses as news of election results from Greece and France was absorbed by the market. The euro weakened to a 3 and a half year low against sterling whilst retracing to a 3 and a half month low against the US dollar. News from France that Holland has become the new President, beating Sarkosy to become the first socialist leader since 1981 shook the market as the Franco-German relationship at the centre of the Eurozone appears to be breaking down. In Greece, a mass exodus away from the two main parties due to the public’s opposition to the austerity measures has caused yet more uncertainty for the troubled nation. Greece needs to outline a further 11.5 billion Euros of spending cuts if it is to receive the next tranche of its bailout package in June and unless a government is formed that will enforce these cuts Greece is destined to default. There is not a great deal of data out of Europe this week as the markets will look elsewhere for influence whilst continuing to absorb the news of election results. Call in now for a live quote and the latest update.

In the US, the non-farm pay rolls data released on Friday came in much worse than expected mirroring the ADP non-farm payrolls data released earlier in the week. With the labour market no longer appearing to drive the US economic recovery, speculation is starting to gather pace that further Quantitative Easing could be implemented. A busy week on the data front includes trade balance data, unemployment claims, PPI data and economic sentiment. With a lot of data released this week and the economic woes of Europe driving the market these is the potential for a lot of volatility so call in now for the latest news and a live quote.

Elsewhere, the Reserve Bank of Australia downgraded its growth forecasts on Friday and the markets are anticipating the potential for a further interest rate cut in June beyond the 0.5% announced last week. Moreover, Swiss retail sales figures came in much better than expected and Canadian Purchasing Managers' Index (PMI) fell short of their predicted values on Friday. Australian building approval and retail sales figures beat expectations yesterday; but, trade balance figures, the annual budget release and unemployment data are also on the agenda this week. Canadian monthly building permits announced yesterday came in much better than expected, with trade balance figures and unemployment data released later in the week. Other data released this week includes Chinese trade balance, CPI and PPI data; the Reserve Bank of New Zealand’s financial stability report and Japanese current account figures. Call in now for the latest news and a live quote.

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Sterling had a fairly strong week hitting fresh 22 month highs against the euro, 4 month highs against the New Zealand dollar and a 5 month high against the Australian dollar; but, weakened off against the US dollar as risk aversion drove the market. Mixed data released in the UK showed weaker than expected manufacturing and services Purchasing Managers' Index (PMI); but, construction PMI beat the markets expectations. With very little data out today and the market will look to the US for influence with the release of the highly influential non-farm payrolls data; so, call in now for a live update and a live quote.

The euro traded in a similar pattern to sterling this week, strengthening against the Australian and New Zealand dollar; but, weakening off against the US dollar. A raft of poor manufacturing PMI data released showed that the manufacturing output had contracted sharply and was at the weakest level in 3 years. The ECB’s press conference was surprisingly upbeat with no suggestion that it was not looking to lower interest rates and it anticipated the economy would improve gradually. With retails sales figures released today in addition to the Greek and French elections on the horizon there is the prospect for even more uncertainty in the region if weak governments are formed; so call in now for the latest news and a live update.

The US performed well this week as risk aversion was the main driver in the market. A mixed week on the data front included manufacturing PMI and unemployment claims beating expectations; but, services PMI and ADP non-farm payrolls data missing the anticipated market figures. Today’s non-farm payroll data has caused a great deal of volatility in the past and is one of the most influential pieces of monthly data released in the US; so, call in now for the latest news and a live quote.

Elsewhere, the Australian and New Zealand dollar were two of the worst performing currencies this week as the Reserve Bank of Australia announced that it had cut interest rates by 0.5% when a 0.25% cut was widely expected and New Zealand’s jobless rate figures showed a sharp jump in the first quarter. Other data out this week produced an extremely poor GDP reading from Canada showing that the economy had contracted by 0.2% when 0.2% growth had been anticipated The Reserve Bank of Australia provided its statement on monetary policy last night, Swiss Retails sales are released first thing this morning and PMI data from Canada is released this afternoon. Call in now for an update and a live quote.

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Sterling continues to be flavour of the month benefiting from figures that showed the UK construction industry expanded in April and from poor economic data elsewhere. The growth in the construction figures was not as great as for March but was still an important set of data as the construction sector was a key factor in the negative growth figures for the first quarter of this year. Call in now for the latest prices.

We are seeing the € at its lowest level against sterling for over two years with the euro suffering as euro zone manufacturing output contracted sharply. Manufacturing has slowed in April to its weakest level in nearly three years and German manufacturing fell for the first time since December 2011. So the lack of business confidence and the debt problems continue to adversely affect the euro. Today we have the European Central Bank meeting announcement. Given the poor state of the euro zone economy there is even talk of cutting interest rates. Please call in now for the latest update.

The US dollar gained on increased risk aversion following bad economic data at home and in the euro zone. US private employers added fewer jobs than expected in April. Tomorrow we have the hugely influential non farm payroll data so we are likely to see increased volatility while we await those figures. For the latest rates please call in now.

Elsewhere the Australian dollar continues to be under pressure following the surprise announcement of a 0.5% interest rate cut. Clearly the economy is not performing a hoped and inflation is being held within acceptable levels. However the interest rate of 3.75% is still the highest of the industrialised “G10” nations.
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Sterling had a poor start to the day as Manufacturing Purchasing Managers' Index (PMI) figures came in worse than expected underlining the negative sentiment from last week's GDP figures showing that growth in the UK is slowing down. Sterling then recovered to some extent before dropping sharply as US economic data was released. The market will look towards the Construction PMI figures released today for further insight into the state of the economy; so call in now for the latest news and a live quote.

The euro started the day strong against sterling following the UK’s poor PMI reading; but, weakened against the majority of currencies following the US manufacturing PMI release. Trading volumes were fairly light with the majority of Europe closed for the Labour Day bank holiday yesterday. German and Eurozone unemployment data will be the main releases on the agenda today as Europe returns back to work; but, developments in Spain and a look ahead to the French elections could cause a lot of volatility; so, call in now for the latest news and a live quote.

The US dollar had a poor start to the day; but, strengthened on the news that the Institute for Supply Management (ISM) manufacturing PMI indices data released showed much better than expected figures increasing investor confidence in the world’s largest economy. The unemployment data release will be the main news on the agenda today and will provide some direction to the expected figures for the highly influential Non-farm payrolls data released on Friday. Call in now for the latest news and a live update.
Elsewhere, the Australian dollar was weak against the majority of currencies following the Reserve Bank of Australia unexpectedly lowering the interest rate by 0.5% yesterday morning, with the New Zealand dollar trading in a fairly similar pattern. The commodity backed currencies strengthened in the afternoon as risk appetite returned to the market following the positive economic data released in the US. Chinese manufacturing PMI also came in just below market expectations. Swiss retail sales figures are released first thing and unemployment data from New Zealand will be released late this evening. Call in now for the latest update and a live quote.

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Sterling broke through more resistance levels yesterday reaching fresh highs of 1.2310 against the euro and 1.6300 against the US dollar before weakening in the afternoon. Manufacturing Purchasing Managers' Index (PMI) figures for April released today will lead the UK’s economic calendar this week and should give some bearing on the state of the UK’s economy following last week's surprise first quarter GDP reading. Call in now for the latest news and a live quote.

The euro had a poor start today as Spanish GDP data released for the first quarter confirmed what many people had expected, that Spain was now back in recession. Furthermore, Standard and Poor’s (one of the big three credit rating agencies) has now downgraded 16 Spanish banks. Very little data is released today as the majority of Europe has a day off due to Labour Day bank holidays so call in now for a live update and a live quote.

The US dollar performed fairly well today recovering from early losses as personal income and spending rose last month and risk aversion drove the market. The Institute for Supply Management (ISM) manufacturing PMI indices data is released today and several member of the Federal Open Market Committee (FOMC) are also speaking who may provide some more light on the probability of further quantitative easing being implemented. Call in now the latest news and a live quote.

Elsewhere, the Canadian dollar was one of the worst performing currencies yesterday as data released showed that the economy contracted by 0.2% when a 0.2% growth had been anticipated. The Japanese yen also performed well yesterday due to its safe haven status in a risk adverse market. The Reserve Bank of Australia surprised the market by cutting interest rates by 0.5% when the expectation was for a 0.25% cut as they highlighted that the economy was weaker than forecast. The Australian dollar has lost ground as a result. Call in now for the latest news and a live quote.

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