Current market conditions continue to be volatile for sterling with rapid movements in either direction. Last week we saw sterling lose ground against the euro as the European Central Bank continued its rhetoric of supporting the euro whatever it takes. This week we have UK industrial production and inflation data out. The industrial production data for June is unlikely to be good especially as we had two bank holidays in the month. Inflation data being released on Wednesday and is expected to show it falling further which could support further quantitative easing this year. Call in now for the latest news on sterling and the latest rate.
The euro had a good week last week as it became clear that the ECB was beginning to make a concerted effort to “support” the euro. A raft of euro zone economic data is released this week which will highlight the parlous state of the euro zone economy. All eyes will be on the data released for Germany as to date Germany has managed to keep its economy moving forward. This may be proving to be more difficult as the southern states of the euro zone reduce their imports. All eyes will also continue to be on the interest rates that Spain and Italy have to pay on their debt. Last week we saw it oscillate around the 7% level which as we know is unsustainable. Call in to get the latest state of play and the latest rate.
The US dollar has continued to trade in a fairly narrow range against sterling. This week there is limited data out in the US and any data that is released will be carefully scrutinised to see if it will force the Federal Reserve to undertake further quantitative easing in September. Call in now to get our latest thoughts.
The commodity backed currencies especially the Australian dollar have been on a good run recently. This week we have a raft of Chinese data released which will indicate if that good run is about to come to an end given how dependent these commodity backed currencies are on the Chinese economy. Expectations are for the Chinese economy data to be slightly better than the previous month which bodes well for a soft landing. Call in now to get the latest update and thoughts on the Australian and other commodity backed currencies.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro had a good week last week as it became clear that the ECB was beginning to make a concerted effort to “support” the euro. A raft of euro zone economic data is released this week which will highlight the parlous state of the euro zone economy. All eyes will be on the data released for Germany as to date Germany has managed to keep its economy moving forward. This may be proving to be more difficult as the southern states of the euro zone reduce their imports. All eyes will also continue to be on the interest rates that Spain and Italy have to pay on their debt. Last week we saw it oscillate around the 7% level which as we know is unsustainable. Call in to get the latest state of play and the latest rate.
The US dollar has continued to trade in a fairly narrow range against sterling. This week there is limited data out in the US and any data that is released will be carefully scrutinised to see if it will force the Federal Reserve to undertake further quantitative easing in September. Call in now to get our latest thoughts.
The commodity backed currencies especially the Australian dollar have been on a good run recently. This week we have a raft of Chinese data released which will indicate if that good run is about to come to an end given how dependent these commodity backed currencies are on the Chinese economy. Expectations are for the Chinese economy data to be slightly better than the previous month which bodes well for a soft landing. Call in now to get the latest update and thoughts on the Australian and other commodity backed currencies.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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