Sterling had a strong day yesterday making gains against the majority of currencies, and in particular against the Polish zloty, Hungarian forint and Swedish krona despite the lack of any significant data released in the UK. Out today, we have the release of the monthly change in the net lending to individuals and the number of new mortgage approvals will also be announced. It is more likely that news from elsewhere especially Europe will affect sterling's exchange rate in the short term and as we are still in the summer doldrums we could find movements very rapid if any surprise announcements are made. Call in now for the latest rates.
The euro was weak against sterling and the US dollar yesterday despite reassurances from the European Central Bank (ECB) President that it will do everything in its power to ensure “price stability for all euro area citizens”. On the data front, German inflation figures were higher than expected, whilst positive news came from Italy following better than expected retail sales figures and a better than expected Italian bond auction for short term bonds. The markets will now expect today’s benchmark Italian 10 year bond auction to reinforce this positive sentiment from Italy yesterday. Other data released includes the change in the number of unemployed people during the previous month in Germany. Call in now for the latest news.
The US dollar had a mixed day yesterday as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released showed the change in the number of homes pending sale increased by much more than anticipated. Out today, data showing the change in the number of new people claiming unemployment benefits, inflation figures and the change in the levels of spending by individuals will all be released. However, the main focus will remain on the annual Jackson Hole symposium on Friday and any announcements made on further liquidity being pumped into the US economy. Get the latest news by calling in.
Elsewhere, the Polish zloty was particularly weak yesterday after the central bank all but ruled out increasing interest rates in the short term, the Hungarian forint was weakened after its central bank surprised the markets by cutting interest rates by 0.25% and the Swedish krona also struggled following the suggesting that its central bank will need to cut interest rates to 1% this year. Early this morning, business confidence statistics from New Zealand were released; as well as private capital expenditure data and building approvals figures from Australia. Later on today the main release will be the trade balance data announced in Canada. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
The euro was weak against sterling and the US dollar yesterday despite reassurances from the European Central Bank (ECB) President that it will do everything in its power to ensure “price stability for all euro area citizens”. On the data front, German inflation figures were higher than expected, whilst positive news came from Italy following better than expected retail sales figures and a better than expected Italian bond auction for short term bonds. The markets will now expect today’s benchmark Italian 10 year bond auction to reinforce this positive sentiment from Italy yesterday. Other data released includes the change in the number of unemployed people during the previous month in Germany. Call in now for the latest news.
The US dollar had a mixed day yesterday as preliminary GDP figures were released as expected showing that the economy grew by 1.7% whilst the previous quarters figure was also revised up to 1.7%. Other data released showed the change in the number of homes pending sale increased by much more than anticipated. Out today, data showing the change in the number of new people claiming unemployment benefits, inflation figures and the change in the levels of spending by individuals will all be released. However, the main focus will remain on the annual Jackson Hole symposium on Friday and any announcements made on further liquidity being pumped into the US economy. Get the latest news by calling in.
Elsewhere, the Polish zloty was particularly weak yesterday after the central bank all but ruled out increasing interest rates in the short term, the Hungarian forint was weakened after its central bank surprised the markets by cutting interest rates by 0.25% and the Swedish krona also struggled following the suggesting that its central bank will need to cut interest rates to 1% this year. Early this morning, business confidence statistics from New Zealand were released; as well as private capital expenditure data and building approvals figures from Australia. Later on today the main release will be the trade balance data announced in Canada. Call in now for the latest news and a live quote.
Get a live quote and/or more information from Smart Currency at: http://www.smartinternationaltrade.co.uk/
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