Showing articles for June 2009

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This week's currency news 347

29 June 2009
This week sees a number of data releases which are likely to bring some volatility back to the market, after a reasonably quiet week last week.

If you need to send money overseas, keep in touch with your currency broker for the latest news affecting your exchange rate.

For all rates against GBP
Tuesday - Nationwide house price survey
Tuesday - GDP data 9.30am
Wednesday - manufacturing inflation 9.30am

Australian Dollar
Tuesday - new home sales 1am
Wednesday - retail sales 2am
Thursday - Australian trade balance 2.30am

Thursday - unemployment rate 10.00am
Thursday - interest rate decision & speech 12.45pm
Friday - retail sales for May 10.00am

US Dollar
Tuesday - June consumer confidence 3.00pm
Wednesday - May home sales 3.00pm
Thursday - weekly earnings 1.30pm
Thursday - non-farm payroll data 1.30pm
Friday - market closed (US bank holiday)

Swiss Franc
Friday - Swiss CPI inflation (8.15am)

Euro weaker on ECB cash injection

24 June 2009
The Euro exchange rate has recovered most of its losses of the last couple of days, after the ECB pumped €442bn into credit markets to encourage liquidity to help resolve the Eurozone's recession.

This is similar to the Bank of England's quantitative easing programme, which initially weakened the Pound before seeing it strengthen weeks later.

If the same pattern happens for the Euro, we could therefore be entering a brief period where the single currency is at cheaper levels.

If you are worried about the increased cost in recent months of sending money abroad, don't forget you can fix exchange rates up to 2 years ahead through a reputable currency broker.

New high for Pound

11 June 2009
The Pound has continued to recover well after last week's uncertainty, and is currently trading at its best level in 2009 against the Euro.

Rates for sending money to Austria, Spain, Italy France and the other Eurozone countries are now over 1.17 on the interbank markets for the first time in 2009.