News

You can see our currency news market reports, published daily, on this page. Jargon-free and with our archive back to 2011, bookmark this page to stay on top of the latest currency news relating to your transfers.

Currency news this week 145

28 July, 2011

CurrencyIndex

Last week saw a significant drop in the GBP-EUR exchange rate, while the GBP-USD rate has gone the other way. With the UK budget cuts due next month, the Pound could be vulnerable to any bad news; this week’s data releases are as follows:

Monday 27th
0800 – European Central Bank speech (Trichet)
0900 – Eurozone money supply

Tuesday 28th
0700 – German retail sales
0930 – UK GDP (Q2)
1500 – US consumer confidence
2245 – New Zealand trade balance

Wednesday 29th
0930 – UK money supply & mortgage approvals
1000 – Eurozone economic confidence
Overnight – UK consumer confidence

Thursday 30th
0400 – New Zealand business confidence
0855 – German unemployment
1330 – US GDP & jobless claims

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Best USD rate for 6 weeks

28 July, 2011

CurrencyIndex

Weakness in the US Dollar has led to the best rates for sending money to the States since early August. If you have USD requirements, call Currency Index for a quote to take advantage of the spike in rates.

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Euro rate falling as Bank hints at more QE

28 July, 2011

CurrencyIndex

The Bank of England’s policy minutes, released this morning, show that the committee is discussing the possibility of further quantitative easing to stimulate the economy.

With the forthcoming economic cuts also looming, the Pound has started to fall significantly, losing 2.5c against the Euro already this week.

If further QE is implemented, we are likely to see further drops in the value of sterling, as was the case this time last year. Contact Currency Index if you are concerned about falling rates and would like to discuss the possibility of fixing a rate now for delivery later in the year.

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Currency news week commencing September 30th

28 July, 2011

CurrencyIndex

This week’s focus in the UK will be on the Bank of England’s September minutes, due out on Wednesday morning, particularly whether any members voted for an extension in Quantitative Easing. If this proves to be the case, it would not be good news for sterling.

Elsewhere the following data is out around the world:

Monday 20th
0930 – UK mortgage approvals

Tuesday 21st
0230 – Reserve Bank of Australia minutes
1200 – Canadian CPI inflation
1330 – US housing starts
1915 – US interest rate decision

Wednesday 22nd
0930 – Bank of England minutes
1330 – Canadian retail sales

Thursday 23rd
0930 – UK mortgage approvals
1330 – US continuing jobless claims
1500 – US existing home sales

Friday 24th
0900 – German IFO business climate survey
1330 – US durable goods orders
1500 – US new home sales

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UK Retail Sales tumble

28 July, 2011

CurrencyIndex

This morning’s UK retail sales figures are much worse than expected – showing a 0.5% drop in August, compared to analysts’ predictions of a 0.3% increase.

The Pound fell on the release, as worries about the state of the recovery continue. If you are worried about falling rates, remember that you can fix and guarantee a rate up to 2 years ahead by using a Forward Contract from Currency Index.

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Eurozone & UK Unemployment

28 July, 2011

CurrencyIndex

UK unemployment has fallen slightly, to 2.47m in the 3 months to July. The unemployment rate remains at 7.8%. In Europe, there has also been a slight fall.

The Pound rose slightly this morning when the figures were released, but continues to struggle due to worries over cuts and the recovery overall. Tomorrow’s retail sales figures, due at 9.30am, provide the next test for sterling.

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Economic data releases this week

28 July, 2011

CurrencyIndex

This week’s major economic data releases are shown below – a busy week ahead, particularly on Wednesday with key relesases out in the UK, US, Eurozone, New Zealand, Australia and Canada.

For a simple explanation of any of these, and the possible implications on the currency markets, contact Currency Index.

Monday 13th
1900 – Monthly US budget statement
2345 – New Zealand retails sales

Tuesday 14th
0930 – UK CPI & RPI inflation
1000 – German ZEW economic sentiment
1330 – US retail sales

Wednesday 15th
0130 – Australian consumer confidence
0930 – UK unemployment & jobless claims
1000 – Eurozone CPI inflation & employment change
1200 – US mortgage applications
1330 – Canadian manufacturing shipments
2200 – New Zealand interest rate decision

Thursday 16th
0930 – UK retail sales
1300 – Swiss interest rate decision
1330 – US PPI inflation

Friday 17th
1330 – US CPI inflation

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Pound down as trade balance worsens

28 July, 2011

CurrencyIndex

The Pound’s recovery this week has been swiftly halted by UK trade balance figures released this morning, which showed a defecit of some £4.8bn in July – £500m worse than expected.

The next major data release in the UK are tomorrow’s inflation figures, and with the recovery still fragile, any bad news could spell trouble for the Pound.

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Weekly economic roundup

28 July, 2011

CurrencyIndex

This week we return to the usual monthly data releases from around the world relating to inflation, unemployment and interest rates in many key economies.

The most important day for exchange rates this week will likely be Thursday, when we have the European Central Bank report, Australian and US unemployment, German inflation and UK interest rates and trade balance.

The full calendar is as follows:

Monday 6th
Bank holiday – US & Canada
0930 – Eurozone investor confidence

Tuesday 7th
0530 – Australian interest rate decision
0645 – Swiss unemployment rate
1100 – German factory orders

Wednesday 8th
0700 – German trade balance
0930 – UK industrial & manufacturing production
1400 – Canadian interest rate decision

Thursday 9th
0230 – Australian unemployment rate
0700 – German CPI inflation
0900 – ECB monthly report
0930 – UK trade balance
1200 – UK interest rate decision
1330 – US jobless claims & trade balance

Friday 10th
0930 – UK PPI inflation
1200 – Canadian unemployment rate

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Euro rate below €1.20

28 July, 2011

CurrencyIndex

The Euro mid-market rate has dropped below €1.20 today for the first time since July, prompting fears for buyers of overseas property in Europe.

The Pound has been faltering over the last fortnight, and this morning’s Eurozone retail sales data, which showed strong growth of 1.1% in the year to July, has also given the Euro more strength [made it more expensive].

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