Please see our weekly currency article for this week's important data releases.
For Euro-buyers, Thursday is the main day of interest, with the ECB's monthly interest rate decision and accompanying speech, along with European GDP and retail sales.
Monday 30 November 2009
Wednesday 25 November 2009
US Data this afternoon
Anyone who needs to send money to the USA should be aware of a raft of data releases due out this afternoon.
Yesterday's GDP figure was negative, giving slightly better rates for transferring US Dollars. Today we have the following, all realeased at 1330 UK time:
Yesterday's GDP figure was negative, giving slightly better rates for transferring US Dollars. Today we have the following, all realeased at 1330 UK time:
- Durable Goods Orders
- Jobless Claims
- Personal Consumption
- Personal Income
Contact Currency Index this afternoon if you would like to discuss the implications for dollar rates on 0800 043 2623.
GDP revised up - but recession still with us
This morning's GDP figures showed a slight upward revision for the third quarter this year - but still indicate a 0.3% shrink in the economy for the period.
The UK economy has contracted for 6 consecutive quarters, the longest unbroken run since records began in 1955.
The revision was not worse than expected - so we have seen a mixed reaction on foreign exchange markets, with the Pound falling initially but recovering slightly after the announcement.
There is no further major UK data released this week.
The UK economy has contracted for 6 consecutive quarters, the longest unbroken run since records began in 1955.
The revision was not worse than expected - so we have seen a mixed reaction on foreign exchange markets, with the Pound falling initially but recovering slightly after the announcement.
There is no further major UK data released this week.
Monday 23 November 2009
Currency news due out this week
Please click here to see our weekly article on this week's important data releases.
Sterling outlook for 2010
Please click to see our article for an overview on the current position of the Pound in international markets.
Wednesday 18 November 2009
Bank of England split on QE
Minutes released this morning showed that the Bank of England were split on their quantitative easing decision this month - raising fears that there could be further action ahead.
One member of the committee even voted for an extra £40bn of asset purchasing this month.
The Pound has fallen on the back of this news, and with UK mortgage approval data out tomorrow, there could be further volatility ahead.
One member of the committee even voted for an extra £40bn of asset purchasing this month.
The Pound has fallen on the back of this news, and with UK mortgage approval data out tomorrow, there could be further volatility ahead.
Tuesday 17 November 2009
Pound up on inflation news
UK inflation figures, released this morning, were better than expected - with the core CPI measure showing a 1.8% increase in the year to October.
Higher inflation makes higher interest rates more likely, so the Pound has taken some strength today across the board.
Beware though, tomorrow morning's Bank of England minutes could throw a spanner in the works if there are hints of more quantitative easing to come. Contact Currency Index if you would like to chat through your options.
Higher inflation makes higher interest rates more likely, so the Pound has taken some strength today across the board.
Beware though, tomorrow morning's Bank of England minutes could throw a spanner in the works if there are hints of more quantitative easing to come. Contact Currency Index if you would like to chat through your options.
Monday 16 November 2009
This week's news
Please see our regular weekly article for this week's foreign exchange news.
UK inflation tomorrow (Tuesday) at 9.30am, and Wednesday's Bank of England minutes, also at 9.30am, are likely to be the main events this week on the foreign exchange markets.
UK inflation tomorrow (Tuesday) at 9.30am, and Wednesday's Bank of England minutes, also at 9.30am, are likely to be the main events this week on the foreign exchange markets.
Sunday 15 November 2009
US Dollar weaker on trade balance data
US Dollar rates have continued to improve slightly, after Friday's weaker-than-expected US trade balance figures.
September's defecit was $36.5bn, over $4bn worse than market expectations.
The US consumer sentiment survey published on Friday was also negative, giving the US Dollar some further weakness - good news for anyone sending money to the USA.
Don't forget, you can fix exchange rates up to 2 years ahead with Currency Index.
September's defecit was $36.5bn, over $4bn worse than market expectations.
The US consumer sentiment survey published on Friday was also negative, giving the US Dollar some further weakness - good news for anyone sending money to the USA.
Don't forget, you can fix exchange rates up to 2 years ahead with Currency Index.
Thursday 12 November 2009
Unemployment & Inflation
Yesterday's unemployment figures showed a rise in the UK's jobless total, although not as much as some analysts had feared.
The Bank of England's quarterly inflation report was also slightly negative, with Governer King stating that UK interest rates are likely to remain low until 2011. The Pound is hampered by low interest rates, and dropped accordingly during King's speech.
If other worldwide interest rates start to increase before the UK, exchange rates for sending money abroad could remain low throughout 2010.
The Bank of England's quarterly inflation report was also slightly negative, with Governer King stating that UK interest rates are likely to remain low until 2011. The Pound is hampered by low interest rates, and dropped accordingly during King's speech.
If other worldwide interest rates start to increase before the UK, exchange rates for sending money abroad could remain low throughout 2010.
Tuesday 10 November 2009
Bank of England speech & news tomorrow
Tomorrow sees 3 important events for the Pound:
1. UK unemployment figures (9.30am)
2. Quarterly Bank of England inflation report (10.30am)
3. Bank of England Governer Mervyn King's speech (10.30am)
It is likely to be a volatile morning on the foreign exchange markets. The unemployment and inflation news are always key for the UK economy and therefore the Pound, and King's speech will provide economic projections.
Often, King's speeches are sterling-negative, as the Bank of England tries to maintain realistic expectations in financial markets.
1. UK unemployment figures (9.30am)
2. Quarterly Bank of England inflation report (10.30am)
3. Bank of England Governer Mervyn King's speech (10.30am)
It is likely to be a volatile morning on the foreign exchange markets. The unemployment and inflation news are always key for the UK economy and therefore the Pound, and King's speech will provide economic projections.
Often, King's speeches are sterling-negative, as the Bank of England tries to maintain realistic expectations in financial markets.
Monday 9 November 2009
This week's currency update
Please see our weekly article on the Move Channel for all this week's data releases and the outlook for exchange rates.
Important news will be posted here throughout the week, or call us at Currency Index on 0800 043 2623 for the latest market update.
Important news will be posted here throughout the week, or call us at Currency Index on 0800 043 2623 for the latest market update.
Friday 6 November 2009
Worldwide Currency Roundup
Please see our monthly article for views on major world currencies in the current economic climate, including an economic overview for the UK, USA and Europe containing what you need to know if you are sending money abroad in the next few months.
Thursday 5 November 2009
Bank of England prints another £25bn
The Bank of England today announced an extra £25bn of quantitative easing - although it stopped short of adding £50bn as some analysts had expected.
The Pound gave a mixed reaction, gaining strength initially, before falling back as markets took the news in. ECB President Trichet also said this afternoon that Eurozone inflation would turn positive soon, signalling that European interest rates may start to go up before those in the UK. This would be likely to make the Euro more expensive.
As the dust settles on these announcements, sterling is back where it started the day against most currencies, although US Dollar exchange rates are slightly better than they were this morning.
The Pound gave a mixed reaction, gaining strength initially, before falling back as markets took the news in. ECB President Trichet also said this afternoon that Eurozone inflation would turn positive soon, signalling that European interest rates may start to go up before those in the UK. This would be likely to make the Euro more expensive.
As the dust settles on these announcements, sterling is back where it started the day against most currencies, although US Dollar exchange rates are slightly better than they were this morning.
Wednesday 4 November 2009
Services data send GBP higher
This morning's PMI services data showed an unexpected expansion in the UK's services sector - giving sterling a boost across the board.
There may be a 24 hour window to buy currency between now and the Bank of England's vital quantitative easing announcement tomorrow lunch time - if more money is injected into the economy, analysts expect the Pound to fall significantly.
Speak to us today at Currency Index if you are sending money overseas. You can call free on 0800 043 2623.
There may be a 24 hour window to buy currency between now and the Bank of England's vital quantitative easing announcement tomorrow lunch time - if more money is injected into the economy, analysts expect the Pound to fall significantly.
Speak to us today at Currency Index if you are sending money overseas. You can call free on 0800 043 2623.
Tuesday 3 November 2009
Aussie Dollar weaker despite rate hike
The Reserve Bank of Australia put interest rates up overnight as expected - although comments that they may pause the cycle of higher rates in December led the Australian Dollar to weaken off slightly.
Mid-market rates are now comfortably back above 1.80.
If you are transferring money to Australia contact your currency broker to discuss your options - higher interest rates in a country usually lead to a more expensive currency and it is likely the RBA will raise rates again in January, if not December.
Mid-market rates are now comfortably back above 1.80.
If you are transferring money to Australia contact your currency broker to discuss your options - higher interest rates in a country usually lead to a more expensive currency and it is likely the RBA will raise rates again in January, if not December.
Monday 2 November 2009
Currency Index is now FSA Regulated
We are pleased to announce that from today Currency Index is Authorised and Regulated by the FSA, with reference 504353 on the FSA's Register.
This gives clients even greater peace of mind regarding security of funds, and confirms that Currency Index conforms to the relevant Conduct of Business requirements.
A full list of Authorised companies can be found on the FSA's website.
This gives clients even greater peace of mind regarding security of funds, and confirms that Currency Index conforms to the relevant Conduct of Business requirements.
A full list of Authorised companies can be found on the FSA's website.
This week's news
Please see our regular article for this week's currency news:
http://www.themovechannel.com/features/a01630fe-f266/
Lots of data out this week, particularly on Thursday, so do speak to your currency broker if you need to send funds abroad or make a money transfer back to the UK.
http://www.themovechannel.com/features/a01630fe-f266/
Lots of data out this week, particularly on Thursday, so do speak to your currency broker if you need to send funds abroad or make a money transfer back to the UK.
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