News

Election, Greece and this week’s currency news

28 July, 2011

CurrencyIndex

A week is a long time in the currency markets – on Thursday we saw fluctuations of 5c for the Euro and Dollar exchange rates as the election results came in, and the economic crisis in Greece worsened.

This week, much will depend on whether there is a deal between the Conservatives and Liberal Democrats, as well as the Greek bailout, particularly if you are buying Euros to transfer abroad.

We also have the following data due out around the world:

Monday 10th
0700 – German trade balance
1200 – UK interest rate decision

Tuesday 11th
0700 – German CPI inflation
0930 – UK industrial production

Wednesday 12th
0700 – German GDP
0930 – UK jobless claims change
1000 – Eurozone GDP
1030 – Bank of England quarterly inflation report
1330 – US trade balance
1900 – US monthly budget statement

Thursday 13th
0230 – Australian unemployment rate
0930 – UK trade balance
1330 – US jobless claims
2345 – New Zealand retail sales

Friday 14th
1330 – Canadian manufacturing data
1330 – US retail sales

Pound slumps on hung parliament

28 July, 2011

CurrencyIndex

The Pound’s recent gains have been wiped out this morning as the UK election produced a hung parliament.

Those of you buying Euros or US Dollars have seen rates fluctuating up to 5c since the early hours of the morning.

This could spell the end of sterling’s recent rise, depending on how quickly a government is formed and how stable the markets perceive the resultant deal.

Best Euro rate since August, but election looms

28 July, 2011

CurrencyIndex

Further worries on the economic problems in Greece and Spain have weakened the Euro, which is now trading at the best rate for sending Euros abroad since August last year.

With the UK election looking tomorrow and the uncertainty around the result, today may be a good time to look at securing your rate. Don’t forget you can fix a rate up to 2 years in advance with Currency Index.

Currency news from around the world

28 July, 2011

CurrencyIndex

The UK election will be the main point of interest this week – will a hung parliament cause the Pound to drop? There is also news due out from around the world as follows:

Tuesday 4th
0530 – Australian interest rate decision
0930 – UK individual lending & purchasing inflation
1500 – US pending home sales

Wednesday 5th
1000 – Eurozone retail sales
1315 – US employment change
2345 – New Zealand unemployment rate

Thursday 6th
UK general election
0230 – Australian trade balance & retail sales
1245 – Eurozone interest rate decision
1330 – US initial jobless claims

Friday 7th
0230 – Australian monetary policy statement
0930 – UK PPI inflation
1200 – Canadian unemployment rate
1330 – US non-farm payrolls & unemployment rate

House prices up 10 in last year

28 July, 2011

CurrencyIndex

This morning’s Nationwide house price survey shows a 10.5% increase in prices in the year to April. This is an encouraging sign of economic growth in the UK and as such the Pound is performing relatively well this morning.

The Greek bailout continues to weigh on the Euro, although the rate for buying Euros seems to have peaked for now having increased over the last 10 days.

With the final leaders’ debate before the election tonight, there could be a limited window to buy your currency before the uncertainty of the election takes over for the next 7 days.

International foreign exchange news out this week

28 July, 2011

CurrencyIndex

This week is quiet in terms of UK data, but there are other releases around the world likely to affect exchange rates. Contact Currency Index for the latest news and live rates for your transfer.

Monday 26th
ECB President Trichet’s speech

Tuesday 27th
0930 – UK mortgage approvals
1500 – US consumer confidence

Wednesday 28th
0230 – Australian CPI inflation
0400 – New Zealand business confidence
1915 – US interest rate decision
2200 – New Zealand interest rate decision
2345 – New Zealand trade balance

Thursday 29th
0700 – UK Nationwide house prices
1330 – US jobless claims

Friday 30th
Overnight – UK GfK consumer confidence survey
1000 – Eurozone unemployment & CPI inflation
1330 – Canadian & US GDP

More good news as sterling rises

28 July, 2011

CurrencyIndex

This morning’s mortgage approvals and public borrowng data came out better then expected – and even slightly worse retail sales could not dampen the Pound’s momentum.

Against the Euro, US Dollar, Australian Dollar and South African Rand we have seen improvements in exchange rates for anyone sending money abroad.

Contact Currency Index for the latest commercial rates available.

Mixed figures but Pound is up

28 July, 2011

CurrencyIndex

This morning’s headline unemployment figure showed an increase to 8% – the highest since 1994 – but behind the figures there was a lower than expected number of UK citizens claiming unemployment benefit in March.

At the same time, average UK earnings figures were better than expected, so overall this morning there has been some support for sterling, with the mixed numbers being taken as positive overall for the UK economy.

With retail sales and public borrowing figures out tomorrow morning, today could present an opportunity for buying Euros, Dollars or whichever currency you need to send abroad, at a relatively good rate. Contact Currency Index for the latest live rates.

UK inflation rises – as does the Pound

28 July, 2011

CurrencyIndex

In a data release seen as positive for sterling, UK inflation has come out higher than expected this morning, making sending money abroad slightly cheaper across the board.

The retail price index for March was up 0.7%, and up 4.4% for the year, compared with expectations of 0.4% and 4.1% respectively.

Currency news this week 204

28 July, 2011

CurrencyIndex

This week focus for the Pound is likely to be fixed to the unfolding election news, as investors decide whether a surge in Lib Dem popularity is likely to be good for the economy.

We also have the following scheduled data releases:

Monday 19th
1000 – Eurozone construction data
1330 – Canadian foreign investments
2345 – New Zealand CPI inflation

Tuesday 20th
0230 – Australian interest rate minutes
0700 – German PPI inflation
0930 – UK CPI inflation & retail sales figures
1000 – German ZEW consumer confidence survey
1400 – Canadian interest rate decision

Wednesday 21st
0930 – Bank of England minutes, UK unemployment rate & UK earnings figures

Thursday 22nd
0715 – Swiss trade balance
0930 – UK net public borrowing
1330 – US jobless claims & PPI inflation
1500 – US house price index

Friday 23rd
0900 – German IFO business climate survey
0930 – UK Q1 GDP
1200 – Canadian CPI inflation
1330 – US durable goods orders & Canadian retail sales