Sterling strengthened to a 2 week high against the euro as concerns about the single currency and the global economy at large drove the market. Similarly, sterling weakened against the US dollar and Japanese yen as investors sought safer havens for their money. Out today, figures showing the number of new mortgages approved in the previous month will be announced. Movements in exchange rates continue to be quick and rapid given the uncertainty in the Eurozone so expect any news from Europe to play a much bigger role in sterling’s relative strength today. Please call in now for the latest news and rates.
The euro struggled yesterday as German business climate data revealed that confidence has unexpectedly fallen despite the German Federal Constitutional Court ruling in favour of the European Stability Mechanism (ESM). The contrasting French and German opinions on how the proposed banking union should be supervised is not helping matters and the German Chancellor is due to meet the President of the European Central Bank (ECB) today to discuss matters further whilst also discussing the on-going problems with Spain and Greece. With little significant data released today, the markets will look to the ECB Presidents press conference as a focal point for today’s trade patterns. Call in now for the latest update and rates.
The US dollar performed well yesterday as investors looked to buy US dollars and other safe haven currencies as risk aversion dominated market movements thorough much of the day. Consumer confidence figures released today are expected to show that current market conditions had marginally improved from last month. Variation away from the expected figures has caused volatility in the past as financial confidence drives consumer spending. Get the latest news by calling in.
Elsewhere, the Japanese yen was particularly strong and the New Zealand dollar was particularly weak as risk aversion drove the market which was not helped by data from China revealing that growth has continued to decelerate in the third quarter increasing concerns about the state of the global economy. Out today, the President of the Swiss National Bank is speaking and we also have the release of retail sales figures from Canada, so 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 struggled yesterday as German business climate data revealed that confidence has unexpectedly fallen despite the German Federal Constitutional Court ruling in favour of the European Stability Mechanism (ESM). The contrasting French and German opinions on how the proposed banking union should be supervised is not helping matters and the German Chancellor is due to meet the President of the European Central Bank (ECB) today to discuss matters further whilst also discussing the on-going problems with Spain and Greece. With little significant data released today, the markets will look to the ECB Presidents press conference as a focal point for today’s trade patterns. Call in now for the latest update and rates.
The US dollar performed well yesterday as investors looked to buy US dollars and other safe haven currencies as risk aversion dominated market movements thorough much of the day. Consumer confidence figures released today are expected to show that current market conditions had marginally improved from last month. Variation away from the expected figures has caused volatility in the past as financial confidence drives consumer spending. Get the latest news by calling in.
Elsewhere, the Japanese yen was particularly strong and the New Zealand dollar was particularly weak as risk aversion drove the market which was not helped by data from China revealing that growth has continued to decelerate in the third quarter increasing concerns about the state of the global economy. Out today, the President of the Swiss National Bank is speaking and we also have the release of retail sales figures from Canada, so 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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