GBP/EUR - 1.2646
GBP/USD - 1.5852
EUR/USD - 1.2528
GBP/AED - 5.8212
GBP/AUS - 1.5551
GBP/CAN - 1.5662
GBP/CHF - 1.5195
GBP/HKD - 12.2988
GBP/INR - 88.56
GBP/JPY - 124.29
GBP/NZD - 1.9961
GBP/SEK - 10.6542
GBP/ZAR - 13.3442
To request a up-to-the minute quotation, call 0845 638 0571 or (+44 207 898 0500 from outside the UK) or fill out our quote form: http://www.smartcurrencybusiness.com/quote1.htm
Sterling hit fresh highs against the US dollar yesterday breaking though the 1.59 mark for only the second time in 4 months before weakening off after the Construction Purchasers Managers Index (PMI) missed market estimates. The index showed that the construction sector was contracting when a slight expansion had been initially predicted. The Services PMI will be released today (the most influential release due to the services sector making up close to 80% of GDP) and is expected to show the UK’s largest sector continued to expand steadily. If the figures fall short you can expect to see sterling sold off against the majority of currencies. Call in now for the latest rates.
The euro struggled yesterday following Moody’s (one of the big three credit rating agencies) downgrading the entire regions outlook to negative underlining the fragility of the region. Today we will see the results of the benchmark German 10 year bond auction which in particular should show the markets confidence in the region as investors look to buy German bonds when looking for safe havens for their money. Other data released today includes Europe wide retail sales statistics and Europe wide Services PMI figures. However, the markets focus is firmly on Thursdays ECB’s interest rate decision and the statement that will follow as investors try to second guess what action may be taken to support the ailing southern states. If this action is bold and decisive, unlikely given all the different political pressures that exist, then the euro will benefit and strengthen. If not then we could see further weakening against sterling. Some economists are suggesting that another cut in interest rates may be on the way. Call in now for the latest rates.
The US dollar performed well yesterday as risk aversion dominated market movements due to fears surrounding the stability of the Eurozone as well as the disappointing manufacturing PMI figures which were released. The markets continue to speculate that the Federal Bank will look to loosen monetary policy by potentially introducing a third round of quantitative easing and the Non-farm pay rolls data released on Friday may be particular influential following the Chairman of the Federal Bank specifically mentioning that high unemployment was one of the main driving factors behind the call for further easing. Get the latest news by calling in
Elsewhere, we saw another bad day on the data front for Switzerland which saw its economy contract for the first time in 9 months. Early this morning we saw the release of quarterly GDP data from Australia and inflation data from Switzerland will also be released first thing. The main news throughout the rest of the day will be the Bank of Canada’s interest rate decision which is widely expected to be kept on hold at 1%. Call in now for the latest news and a live quote.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote on: 0845 638 0571 (or +44 (0)207 898 0500 from outside the UK) or fill out our online quote form at: SmartCurrencyBusiness.com/quote1.htm
GBP/USD - 1.5852
EUR/USD - 1.2528
GBP/AED - 5.8212
GBP/AUS - 1.5551
GBP/CAN - 1.5662
GBP/CHF - 1.5195
GBP/HKD - 12.2988
GBP/INR - 88.56
GBP/JPY - 124.29
GBP/NZD - 1.9961
GBP/SEK - 10.6542
GBP/ZAR - 13.3442
To request a up-to-the minute quotation, call 0845 638 0571 or (+44 207 898 0500 from outside the UK) or fill out our quote form: http://www.smartcurrencybusiness.com/quote1.htm
Sterling hit fresh highs against the US dollar yesterday breaking though the 1.59 mark for only the second time in 4 months before weakening off after the Construction Purchasers Managers Index (PMI) missed market estimates. The index showed that the construction sector was contracting when a slight expansion had been initially predicted. The Services PMI will be released today (the most influential release due to the services sector making up close to 80% of GDP) and is expected to show the UK’s largest sector continued to expand steadily. If the figures fall short you can expect to see sterling sold off against the majority of currencies. Call in now for the latest rates.
The euro struggled yesterday following Moody’s (one of the big three credit rating agencies) downgrading the entire regions outlook to negative underlining the fragility of the region. Today we will see the results of the benchmark German 10 year bond auction which in particular should show the markets confidence in the region as investors look to buy German bonds when looking for safe havens for their money. Other data released today includes Europe wide retail sales statistics and Europe wide Services PMI figures. However, the markets focus is firmly on Thursdays ECB’s interest rate decision and the statement that will follow as investors try to second guess what action may be taken to support the ailing southern states. If this action is bold and decisive, unlikely given all the different political pressures that exist, then the euro will benefit and strengthen. If not then we could see further weakening against sterling. Some economists are suggesting that another cut in interest rates may be on the way. Call in now for the latest rates.
The US dollar performed well yesterday as risk aversion dominated market movements due to fears surrounding the stability of the Eurozone as well as the disappointing manufacturing PMI figures which were released. The markets continue to speculate that the Federal Bank will look to loosen monetary policy by potentially introducing a third round of quantitative easing and the Non-farm pay rolls data released on Friday may be particular influential following the Chairman of the Federal Bank specifically mentioning that high unemployment was one of the main driving factors behind the call for further easing. Get the latest news by calling in
Elsewhere, we saw another bad day on the data front for Switzerland which saw its economy contract for the first time in 9 months. Early this morning we saw the release of quarterly GDP data from Australia and inflation data from Switzerland will also be released first thing. The main news throughout the rest of the day will be the Bank of Canada’s interest rate decision which is widely expected to be kept on hold at 1%. Call in now for the latest news and a live quote.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote on: 0845 638 0571 (or +44 (0)207 898 0500 from outside the UK) or fill out our online quote form at: SmartCurrencyBusiness.com/quote1.htm
