Currency News Reports | FX Market Commentary

You might not have the time or expertise to keep up with the latest news affecting exchange rates, so leave the hard work to Currency Index. We publish regular articles with important news and our views on world events, to help you make an educated decision as to when to buy or sell your currency.

A Busy Day on the Markets

04 March 2009 CurrencyIndex

A potentially busy day on the markets today, depending on how much has been priced in by the traders. The day starts with the European Monetary Union announcing the change in Gross Domestic Product on Quarter on Quarter and Year on Year, both are reportedly predicted to be a drop, giving early strength to Sterling and US Dollar.

The strength may not last depending on how likely the Bank of England are to halve interest rates down to 0.5%. There is a positive consensus that a reduction to 0.5% will happen, which could be priced into the market already. Following on from that is the European Central Bank possibly reducing their interest rate to 1.5% from 2.0%. If they decide to only reduce the interest rate by 0.25% expect to see Euro strength early on after 12:45 while everyone waits to hear Trichet's speech at 13:30.

If you need any guidance regarding interest rate decisions contact any of our senior brokers today on 0800 043 2623. Exchange rate for buying Euros are likely to be volatile from midday onwards.

$/></div></p> <div class="clear"></div> <a class="commentCount" href="/blog/article/437/A-Busy-Day-on-the-Markets">Comments (0)</a> <a href="/blog/article/437/A-Busy-Day-on-the-Markets" class="readMore">Read More</a> </article> <article> <h3>A Positive Sign Downunder</h3> <span class="date italic">03 March 2009</span> <span class="name">CurrencyIndex </span> <div class="clear"></div> <p><a onblur="try {parent.deselectBloggerImageGracefully();} catch(e) {}" href="http://www.currencyindex.co.uk/advice/sending-money-to-Australia.aspx"><img style="margin: 0pt 10px 10px 0pt; float: left; cursor: pointer; width: 193px; height: 161px;" src="http://1.bp.blogspot.com/_d-J6pEDOVLE/SazlXh84EFI/AAAAAAAAAAU/Hj0yKC2U75E/s400/mpu_oz.gif" alt="" id="BLOGGER_PHOTO_ID_5308870253176426578" border="0" /></a>In a positive move for Australia, the Reserve Bank of Australia has frozen interest rates at 3.25% causing strength for the Australian Dollar against all major currencies.<br /><br />Prior to the announcement GBP/AUD was trading at about 2.232, but since the positive news it was dropped to around 2.191.<br /><br />There is no major news released today to effect cable against any of the major currencies. The Bank of Canada will be announcing their interest rate decision at 14:00 GMT, many believe the rate will be halved from 1.0% down to 0.5%, but this was also the consensus with the Australian Dollar as well.<br /><br />If you would like to find out how you can be protected against adverse rate changes and assistance on when to buy your currency, contact one of our senior brokers today on 0800 043 2623 who will be able to explain you through the process. So if you are <a href="http://www.currencyindex.co.uk/advice/sending-money-to-Australia.aspx">sending money to Australia</a> or need to starting <a href="http://www.currencyindex.co.uk/advice/sending-money-to-Canada.aspx">sending money to Canada</a> contact us today and our foreign currency exchange specialists will be able to explain <a href="http://www.currencyindex.co.uk/how_it_works.aspx">how it works</a>.<div class="blogger-post-footer"><img width=$
With Mervyn King telling an audience we are "deep in recession", it is unlikely the Pound will be able to recover much this year, meaning that foreign currency transfers will remain expensive for some time.

For those of you wanting to buy overseas property, the only good news is that bargains can be found in Europe and elsewhere, to make up for the poor exchange rate against the Euro and US Dollar.

Use a currency company to make sure you get the best deal on any currency transactions.

23 February 2009 CurrencyIndex

Week Commencing Feb 23rd - important data releases for currency rates

Pound Sterling - sending money overseas? Receiving money from abroad?
Wednesday 0930 – GDP figures for the last quarter of 2008
Friday 0001 – Consumer Confidence survey

Eurozone
Tuesday 1000 – Industrial Orders
Friday 1000 – CPI inflation data

Canadian Dollar
Monday 1330 – Canadian Retail Sales

US Dollar exchange rates
Tuesday 1500 – Federal Reserve chairman Ben Bernanke’s speech
Wednesday 1500 – Home resales data
Thursday 1330 – Durable Goods orders
Thursday 1500 – New home sales
Friday 1330 – GDP and personal consumption data

Exchange Rate News

23 February 2009 CurrencyIndex

Weekly Exchange Rate and Currency Update 16/2/09

With uncertainty in the financial markets set to continue, a summary of this week’s major data announcements which could affect exchange rates and currency movements. All times are GMT.

Pound Sterling
Tuesday 0930 – UK consumer and retail price index
Wednesday 0930 – Bank of England minutes
Wednesday 1100 – UK industrial trends survey
Thursday 0930 – public sector net borrowing

If you are sending money abroad, the value of your Pound could be volatile during these announcements, specially the Bank of England minutes on Wednesday which give the results of the MPC’s last interest rate vote earlier this month.

Eurozone
Tuesday 1000 – Eurozone trade balance

Canadian Dollar
Monday 1330 – Canadian investment data

Sending money to Canada has been increasing in cost due to the weak Pound – this release is not a major one but could make a difference to your Canadian dollar exchange rate.

US Dollar
Tuesday 1800 – US housing market index
Wednesday 1330 – US housing starts and building permits
Thursday 1330 – US producer price index

As the US dollar has been strengthening in recent weeks, look to these data releases for clues as to the Greenback’s future direction.

Swiss Franc
Thursday 1000 – ZEW business sentiment survey

Transferring money to Switzerland, whose Franc is seen as a ‘safe haven’ currency, has not been helped by the recent financial problems in the UK. In risky climates, investors tend to buy safe currencies and assets such as the CHF, which means demand increases and the currency therefore becomes more expensive.

Canadian Dollar rates have been falling for some time, as the Pound has been losing ground across the board. A positive reading on Monday is likely to strengthen the Canadian Dollar, making exchange rates worse if you send funds across the pond.

Don't forget, a currency broker will enable you to save money against using your bank, and also offer the facility to fix exchange rates up to 2 years ahead. If you are emigrating, fixing your exchange rate can sometimes save you thousands of pounds, without needing all your sterling available.