tag:blogger.com,1999:blog-43482398227710553072011-10-10T19:41:43.320+01:00<big><b>Call us: 0800 043 2623</b></big><br> <big><b>From abroad: +44 1923 69 5353</b></big>Chris Hallhttp://www.blogger.com/profile/14236145913183780024noreply@blogger.comBlogger4671100tag:blogger.com,1999:blog-4348239822771055307.post-55507063024316690502011-07-07T12:12:00.001+01:002011-07-07T12:14:25.102+01:00

Please note no more posts will be made on this blog from 7/7/11.We now have a Currency News section on our main site, which will be updated with currency news and reports ongoing.Please click here to visit the main Currency Index news page.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-37135559783815793402011-07-05T10:00:00.002+01:002011-07-05T10:09:23.132+01:00

We have seen a slight improvement in exchange rates this morning, as UK services growth showed a slight increase beyond analysts' expectations.Along with weaker Euro retail sales data, this has given sterling a small boost against the Euro and most other currencies this morning.However, alongside other data in the last week showing poor performances in manufacturing and construction, it looks as

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-19860099312908338892011-07-04T09:55:00.002+01:002011-07-04T10:05:07.419+01:00

The first full week of the month is always busy with data releases, and July is no exception.The main news due out for those of you buying or selling Euros is likely to be Thursday's Eurozone interest rate decision. The ECB are widely tipped to increase the base rate to 1.5%, which markets have been pricing in over recent weeks giving a stronger (more expensive) Euro. The UK interest rate

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-81461852217284487612011-06-28T09:48:00.002+01:002011-06-28T09:52:19.215+01:00

This morning's final revision to UK Q1 GDP showed 'no change' to the previous reading of 0.5% growth in the 3 months to March.Those of you following exchange rates for sending money abroad will have been hoping for better news to turn around the Pound's recent decline.With house price and mortgage data still to come this week, further losses could be on the cards unless there is some (unlikely)

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-67393869326727975002011-06-27T10:41:00.002+01:002011-06-27T10:53:00.841+01:00

As we near the end of June, a quiet week ahead for economic data, with the notable exception of UK GDP released tomorrow morning at 9.30am. This is the final revision of economic growth in the first quarter of 2011, and one of the main measures which influences markets' views on the UK economy - therefore any revision to the previous figures is likely to have an immediate impact on sterling.Don't

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-65795923487052941312011-06-22T09:34:00.002+01:002011-06-22T09:39:05.494+01:00

The Bank of England has revealed its interest-rate setting committee voted 7-2 to keep interest rates on hold in June.New member Ben Broadbent voted for no change, replacing ex-member Andrew Sentance who was a supporter of higher interest rates.In a blow for the Pound, interest rate rises this year are now seen as even less likely, causing the value of sterling to fall this morning.In Greece, the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-54276444298701840352011-06-20T10:01:00.003+01:002011-06-20T10:09:55.789+01:00

This week's main news for the Pound is likely to be Wednesday's Bank of England Minutes, which will show the split in the vote to keep interest rates on hold earlier this month. With a new committee member, Ben Broadbent, voting for the first time, there may be some change from the 6-3 split seen in the last few months.With ongoing severe debt problems in Greece, planned public sector strikes in

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-17939582411349349412011-06-16T10:08:00.003+01:002011-06-16T10:12:29.350+01:00

May's disappointing retail sales figures, showing a 1.4% drop in May, have held sterling back this morning.High street activity was expected to fall after April's spike due to the royal wedding and run of bank holidays, but the decline was much more than expected.We have now had all major UK data for the week, although for those of you tracking Euro rates we have the ECB monthly report and

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-54619371968813147062011-06-15T10:17:00.003+01:002011-06-15T10:45:06.298+01:00

Unemployment figures this morning showed a drop of 88,000 in the 3 months to April, the biggest fall since 2000, with the jobless total now 2.43m.However, the number of jobseekers' allowance claimants rose by 19,600 to 1.4m, the biggest rise since July 2009.Earnings growth also fell.Given the mixed data, the Pound intially fell but has since recovered against the Euro, although is losing ground

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-77565173785820321972011-06-14T09:54:00.003+01:002011-06-14T10:32:15.747+01:00

Sterling has fallen back this morning after inflation figures showed 'no change' in May at 4.5%.High inflation has been one of the main arguments for raising UK interest rates, and the Bank of England expects inflation to go up further throughout the summer. This morning's figures were lower than expected, and coupled with Halifax's announcement this morning that May house prices were 4.2% lower

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-72414866591832403092011-06-13T09:33:00.002+01:002011-06-13T09:52:40.411+01:00

This week's economic calendar is below, and in the UK we have 3 main releases: inflation, unemployment and retail sales, at 9.30 each morning from Tuesday to Thursday.Each of these has the potential to impact the value of sterling.Retail sales & inflation are also due out in the USA, and inflation in Europe, so we could see some volatility this week in GBP-EUR and GBP-USD. Call Currency Index on

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-76702050032618500342011-06-09T14:28:00.003+01:002011-06-09T14:43:30.670+01:00

Both today's interest rate decisions, in the UK and Eurozone, were 'no change' as expected. The Bank of England is widely tipped to keep interest rates on hold until late 2011, while the European Central Bank may raise rates further in the summer.European Central Bank Trichet, in the accompanying press conference, again states "strong vigilance" was warranted, which is taken to mean that European

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-52443759178784772442011-06-05T17:43:00.000+01:002011-06-05T17:44:53.962+01:00

This week sees the monthly round of interest rate decisions in the UK, Europe, New Zealand and Australia. Rates are expected to remain on hold in the UK for several more months, so any other currencies where interest rates start to rise further will probably gain momentum, leaving their currencies more expensive. We also have the UK trade balance out on Thursday, but little else to potentially

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-32830027532353871292011-06-01T14:58:00.002+01:002011-06-01T15:02:03.096+01:00

Sterling fell this morning on 3 worse-than-expected data releases in the UK. Mortgage approvals fell to 45,000 in April, signalling more problems in the housing market, while manufacturing growth fell and the measure of money supply in the economy was also below expectations.There is not much else due out this week in terms of UK data, so the Pound may struggle to recover much ground. Exchange

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-28678932356555573932011-05-31T11:04:00.002+01:002011-05-31T11:43:25.064+01:00

After the long weekend we have a mixed bag of news releases scheduled this week, with the only main UK figures being mortgage approvals and services & manufacturing growth.There are various other pieces of news due around the world, with the details below of anything likely to affect exchange rates in each country. Contact us at Currency Index for the latest news and live rates.Monday 30th1330 -

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-55725065606739737712011-05-25T10:06:00.002+01:002011-05-25T10:13:04.347+01:00

This morning's revision to the first quarter UK GDP showed no change from the 0.5% first estimate, meaning the UK economy had not grown at all in the 6 months to the end of March.While a downward revision would have caused trouble for the Pound, there has been little impact from the figures this morning, although we have seen rates for buying USD spike up by nearly 0.5c

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-53407324060705284612011-05-24T10:18:00.002+01:002011-05-24T10:23:36.690+01:00

This morning's public borrowing figures showed the worst April on record with a net public borrowing figure of £7.71bn. Analysts had expected a figure nearer £4bn, so fears have grown that the UK economy is still far from a sustainable road to recovery.The Pound fell sharply on the news, and now tomorrow's GDP revision is even more critical, as any further disappointing data will be likely to

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-6342095745283844992011-05-23T09:23:00.002+01:002011-05-23T09:29:38.653+01:00

This week's main news will be Wednesday's adjustment to UK GDP. Any improvement on the previous estimate of 0.5% growth in Q1 will likely be positive for the Pound, while any revision downwards would have a negative effect on sterling.Monday 23rd0900 - Eurozone manufacturing & services PMITuesday 24th0400 - New Zealand inflation report0700 - German GDP0930 - UK public borrowing1500 - US home

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-64548893333920900652011-05-19T17:51:00.002+01:002011-05-19T17:55:32.335+01:00

This morning's UK retail sales figures were better than expected, showing a 2.8% increase in the 12 months to April.Sterling found some strength this morning, and combined with weak US manufacturing numbers this afternoon, has recovered nearly a cent against the US Dollar.Unfortunately the Euro had a rally of its own during the afternoon, leaving rates for buying Euros back where they started at

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-75654030926357503452011-05-18T11:52:00.002+01:002011-05-18T12:00:08.866+01:00

Sterling has fallen across the board this morning, despite figures showing a slight fall in unemployment to 2.46m at the end of March. The official rate is now 7.7%.Meanwhile the Bank of England minutes showed that the MPC voted 6-3 in favour of keeping interest rates on hold in May. This was as expected, although the minutes revealed that 2 of the members who did vote for an interest rate rise

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-65787045038362757642011-05-17T10:46:00.003+01:002011-05-17T10:49:17.644+01:00

The Pound has risen this morning after inflation figures showed a 4.5% rise in prices in the year to April. This was higher than analysts expected, adding to recent expectations that the Bank of England will have to raise interest rates in the next 6 months.Sterling spiked up sharply on the news, but has fallen back a little since, as we look to tomorrow's Bank of England minutes to see how the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-52860281350221367822011-05-16T09:42:00.002+01:002011-05-16T09:57:42.452+01:00

This week we have inflation, Bank of England minutes and retail sales released in the UK on Tuesday, Wednesday and Thursday, so the Pound could be in for a volatile week. Whatever currency you need to buy or sell, contact Currency Index for the latest news and live rates.Monday 16th1000 - Eurozone trade balance & CPI inflation1400 - Speech: Federal Reserve Chairman BernankeTuesday 17th0230 -

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-18954524702190985802011-05-12T09:12:00.000+01:002011-05-13T21:37:58.238+01:00

Yesterday's Bank of England inflation report signalled that UK interest rates may yet go up this year (around November), which has given sterling some strength despite the downbeat growth prospects.The Pound has gained around 4c against the Euro in the last week.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-22461807662299913622011-05-09T11:48:00.002+01:002011-05-09T11:56:25.968+01:00

This week's most important data for the Pound is Wednesday's quarterly inflation report, where the Bank of England sets out projections for UK inflation, which in turn are a significant influence on its interest rate policy and therefore the value of the Pound.Elswhere we are in for a quiet couple of days, until Thursday where there are a few releases likely to affect exchange rates.Do contact us

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-59029165926993800802011-05-05T15:43:00.002+01:002011-05-05T16:43:29.970+01:00

Today's interest rate decisions saw the Bank of England and European Central Bank both keeping rates on hold.Although the Bank of England are very unlikely to raise rates in the coming few months, the European policy makers may be raising rates sooner, which has led to Euro strength and worse exchange rates for sending money to Europe.The ECB President, Jean-Claude Trichet, also indicated in his

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-31414731709035662942011-05-04T14:50:00.005+01:002011-05-04T14:53:40.280+01:00

As we await tomorrow's interest rate decisions from the Bank of England and European Central Bank, an article which may be of interest discusses UK interest rates potentially remaining low well into 2012: http://uk.finance.yahoo.com/news/Why-afford-rate-rise-yahoofinanceuk-3340835426.htmlInterest rate changes have a strong affect on exchange rates, to discuss your own situation and currency

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-76312373617795365952011-05-02T14:34:00.002+01:002011-05-02T14:47:05.455+01:00

This week sees interest rate decisions in the UK, Eurozone and Australia; and unemployment, retail sales and house price figures all coming out around the world.Of the interest rate decisions, the Eurozone will be watched most closely by markets, as any further rate hikes would be likely to strengthen the Euro and send exchange rates lower for buying Euros. European inflation is running high, so

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-61006100377854417572011-04-27T11:49:00.002+01:002011-04-27T13:39:41.232+01:00

This morning's GDP figures showed a 0.5% growth in the UK economy in the first 3 months of 2011.The growth cancels out the contraction seen at the end of 2010, but means the UK economy has effectively not grown in 6 months.While the numbers are nothing exciting in terms of the recovery, some analysts expected worse, so the Pound has taken a little strength from the news, gaining around a cent

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-15009076052595403322011-04-26T09:14:00.002+01:002011-04-26T10:52:40.896+01:00

Although we have a short week, there is important data out around the world likely to affect exchange rates. Particularly tomorrow we have the Q1 GDP figures for economic growth in the UK which is the main indicator of recovery for the economy.Elsewhere we have news due out from the USA, Eurozone and Canada, New Zealand and Australia - whichever currency you are looking to buy or sell, contact

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-18272754122679817022011-04-19T14:58:00.001+01:002011-04-19T15:00:29.288+01:00

With Easter and the royal wedding coming up, Currency Index will be open at the following times. While many markets around the world will be closed over Easter, don’t forget that the bank holiday next Friday 29th only affects the UK, and therefore currency markets will still be active.Monday 18th - Wednesday 20th: 9.00am - 5.30pmThursday 21st: 9.00am - 5.00pmFriday 22nd - Monday 25th: CLOSED (

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-59649569465888454422011-04-18T10:10:00.002+01:002011-04-18T10:18:38.845+01:00

This week's 2 main events for the UK economy, and therefore the Pound, are Wednesday's Bank of England minutes (where we will find out how many of the 9-strong monetary policy committee voted for an interest rate rise this month) and Thursday's retail sales and public borrowing figures.It looks like the Bank of England are now unlikely to raise interest rates in the coming few months, which has

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-70614987915568793792011-04-14T15:43:00.002+01:002011-04-14T15:46:18.049+01:00

Sterling's tumble against the Euro has taken a pause for the last 24 hours, after UK unemployment figures were slightly better than expected yesterday morning.Tomorrow we have important data in Europe and the USA, although nothing due out in the UK. Eurozone inflation figures are out at 10am, and in the States the same figures are announced at 12.30pm. Both are likely to influence monetary policy

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-6315381498068860922011-04-12T10:12:00.002+01:002011-04-12T10:25:15.242+01:00

The UK's headline inflation rate has fallen from 4.4% to 4% - making interest rate rises less likely and causing losses for sterling in FX markets.The Pound has lost around a cent against both the Euro and US Dollar.Tomorrow we have unemployment figures at 9.30am.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-60736411825347328492011-04-11T09:41:00.003+01:002011-04-11T09:52:42.774+01:00

A busy week ahead, which those of you sending money abroad will hope can give sterling some strength. The Pound has been stuck between a weaker US Dollar and stronger Euro for the last 2 weeks, with rates for buying USD now looking very healthy, while Euro rates are at their worst since October and still falling.Tuesday is the busiest day for UK data this week, with the trade balance and key

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-24449946619494067262011-04-08T12:42:00.002+01:002011-04-08T12:47:11.386+01:00

The weakening US Dollar has given us near the best exchange rates since the end of 2009 today, for anybody sending money to the USA.The Euro continues to strenghten, despite the Portuguese bailout plans, which won't necessarily give us better EUR rates. When the Greek economy was bailed out last year, the Euro actually became more expensive, as these moves are seen as a sign of unity and strength

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-81657729317811012272011-04-07T12:56:00.003+01:002011-04-07T12:59:21.037+01:00

The European Central Bank has today raised interest rates in the single currency zone, for the first time since July 2008, to 1.25%. The Bank of England in its own meeting today, has kept UK interest rates on hold at 0.5%.The ECB's move was generally expected, and had been 'priced in' in advance to give a stronger (more expensive) Euro over the last couple of weeks. ECB President Trichet will now

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-36344173909322156222011-04-04T11:28:00.002+01:002011-04-04T11:37:19.039+01:00

This week's main economic news releases are the interest rate decisions in the UK and Eurozone on Thursday lunchtime. We expect the UK rate to remain unchanged at 0.5%, while the ECB may well raise rates to 1.25%. Speculation of a rate hike in Europe has led to the Euro gaining strength against sterling, giving worse exchange rates for buying Euros.If you are looking to buy or sell Euros in the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-89272590865414165462011-04-01T14:18:00.002+01:002011-04-01T14:23:07.613+01:00

Today's US 'non-farm payroll' figures - the main monthly measure of new jobs in the USA - came out better than expected at 216,000.The American unemployment rate also dropped slightly to 8.8%.As both of these measures boost confidence in the US economy, the Dollar has gained strength (become more expensive), with the market rate now back below $1.60 against sterling.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-9000079065565810692011-03-30T19:14:00.002+01:002011-03-30T19:17:43.923+01:00

This week's lack of data releases has done nothing to help sterling, as speculation that the Eurozone interest rate could go up next week continues. In the absence of UK interest rate rises, the Eurozone base rate could leap further away, causing Euro strength and worse exchange rates for sending money to Europe from the UK.If you have a requirement to send or receive foreign currency in the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-60263376409637914402011-03-28T09:23:00.002+01:002011-03-28T09:48:51.474+01:00

This week we return to a little less important data as the month nears its end; although tomorrow's Q4 GDP revision in the UK is likely to be important. The Pound seems to have very little support at the moment, and fell significantly against most currencies last week.Monday 28th1230 - US consumption (Feb)1600 - Speech: ECB President Trichet2145 - New Zealand trade balance (Feb)Tuesday 29th0930 -

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-11470965056642766702011-03-24T09:39:00.002Z2011-03-24T09:43:28.898Z

This morning's retail sales figures have troubled the Pound further after a drop yesterday - February's figures were down 0.8%, and only showed a 1.3% increase over the last 12 months compared to expectations of 2.4%.Sterling seems to have very little support at the moment, and there is no more major UK data expected this week.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-84520264436246672812011-03-23T10:45:00.002Z2011-03-23T10:48:59.525Z

The minutes of this month's Bank of England meeting on interest rates showed the same results as February's vote: 3 of the 9 committee members voted for an interest rate rise in the UK, with the remaining 6 voting for no change.With inflation running high we may still see a rate rise in the coming months, but while growth is still fragile it looks like the Bank remains cautious. The Pound fell

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-55595864005855206552011-03-22T09:38:00.002Z2011-03-22T09:42:07.099Z

This morning's UK inflation figures have come out higher than expected, with the headline CPI rate now at 4.4%, up from 4% in January.Retail prices, which include mortgage payments, are up 5.5% - the highest rate for 20 years.Although this is not great news for consumers, it does mean that the Bank of England might be more likely to raise interest rates in the next few months, so the Pound tends

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-90925369188478915542011-03-21T09:47:00.002Z2011-03-21T09:58:08.801Z

This week we have some crucial economic events in the UK - notably on Wednesday when the Chancellor releases ths budget at 1230, as well as the Bank of England minutes earlier in the morning. The UK's economic prospects and future interest rate policy will both be in the limelight, with immediate effects likely to weigh on the value of sterling.Do keep in touch with your account manager at

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-14739752130952867032011-03-16T10:51:00.002Z2011-03-16T10:56:00.323Z

This morning's labour market statistics showed a rise of 27,000 in unemployment to 2.53million at the end of January - the highest total since 1996.The number of people claiming jobseekers allowance, however, fell to 1.45million.The jobless rate of 8% is also the highest since 1996.The Pound has been largeley unaffected, although better figures would have been likely to improve the outlook for

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-7003811168600571542011-03-14T23:44:00.002Z2011-03-14T23:50:31.873Z

This week is relatively quiet for scheduled economic announcements, but the following all have the potential to move exchange rates. Contact Currency Index for the latest news and quotes.Tuesday 15th:1000 - German & Eurozone ZEW sentiment survey1815 - US Federal Reserve interest rate decisionWednesday 16th:0930 - UK unemployment & average earnings (Jan)1000 - Eurozone CPI inflation (Feb)1230 - US

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-66657313579273250922011-03-09T14:39:00.003Z2011-03-09T14:43:49.593Z

Figures out this morning showed the UK trade gap is at its narrowest level for nearly a year, down to £7bn in January from £9.7bn in December.Although good news for the UK economy, the figures are relatively volatile, so it is too early to say whether we are seeing a longer-term rebalancing of trade.Tomorrow is a crucial day for sterling, with GDP estimate, industrial & manufacturing production,

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-82714016446120996962011-03-08T10:24:00.002Z2011-03-08T10:30:10.573Z

Today's 2 pieces of UK economic news were mixed - with RICS reporting some better stability in the housing market, but the British Retail Consortium showing the second weakest sales figures since May 2009.The Pound remains vulnerable to any further negative news, with tomorrow's trade balance figures due at 9.30am.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-70332355547120207232011-03-06T23:33:00.002Z2011-03-06T23:39:07.179Z

A busy week ahead, with the following data all with the potential to affect exchange rates:Monday 7th0930 - Eurozone investor confidence1200 - Speech: ECB President TrichetTuesday 8thOvernight - UK RICS house price balance0030 - Australian business confidence0645 - Swiss unemployment rate1315 - Canadian housing starts2330 - Australian consumer confidenceWednesday 9th0815 - Swiss CPI inflation0930

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-60352814100847385602011-03-04T16:19:00.002Z2011-03-04T16:22:20.393Z

The US Dollar has been gaining value this afternoon, after data showed unemployment down to 8.9% and 192,000 new jobs being created in February.Rates for sending US Dollars are still excellent, but with this data and the uncertainty around the UK recovery, we may have seen rates peaking for the time being.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-1215879428480247792011-03-03T16:37:00.002Z2011-03-03T16:44:40.484Z

Jean-Claude Trichet, the President of the European Central Bank, gave a clear indication today that Eurozone interest rates could go up as early as April, as the ECB kept rates at 1.0% at its March meeting.Although fears over the costs of servicing debt in the likes of Portugal and Ireland may cause the Euro to weaken, overall if the Eurozone raise interest rates before the UK, analysts are

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-46515611867902962752011-03-02T09:37:00.002Z2011-03-02T09:44:48.506Z

Yesterday's data was generally good for sterling, giving exchange rates a little room to improve during trading through the day.Tomorrow we have the Eurozone interest rate decision, so do think about securing rates today - after so much positive data in one day yesterday, is it likely that rates will improve further?Yesterday's summary for the Pound:- Nationwide survey showed house prices UP 0.3%

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-47167031141115333082011-02-28T10:57:00.002Z2011-02-28T11:10:25.696Z

This week we have a huge amount of important data releases likely to affect currency rates. If you are sending money abroad in the short or medium term, this week could be particularly volatile so get in touch with us at Currency Index to ensure we can make you aware of any opportunities to buy at preferential rates.Monday 28th1000 - Eurozone CPI inflation (Jan)1330 - Canadian GDP & current

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-37330289306538362422011-02-25T16:28:00.003Z2011-02-25T16:30:48.500Z

This morning's revision to Q4 2010 GDP showed a disappointing contraction in the economy of 0.6%. The Pound quickly lost half a cent against both the Euro and US Dollar when the figures were released.We have seen some revoery this afternoon, but with the European Central Bank poised to potentially increase interest rates next week, we could see Euro strength and worse rates for buying Euros

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-31901772043794417392011-02-24T16:11:00.002Z2011-02-24T16:15:41.849Z

Sterling is falling across the board today, as a CBI report showed weaker growth in retail sales, and global fears over the Libyan crisis also hit confidence.Tomorrow morning we have the first revision of the disastrous GDP figures from Q4 last year, and unless the 0.5% contraction is revised to something more positive, we could see further losses for the Pound.If you are worried about falling

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-90855912388353493082011-02-23T09:46:00.002Z2011-02-23T09:50:48.812Z

Today's Minutes of February's Bank of England interest rate meeting showed that 3 members voted for a rate rise this month, an increase from the 2 members who have been supporting a rise recently.The Committee is made up of 9 members, with the other 6 voting for interest rates to stay at 0.5%.The vote shows that there is increasing appetite for interest rate rises, which should help control

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-8448807107590824372011-02-22T15:31:00.002Z2011-02-22T15:37:47.757Z

This morning's UK public borrowing figures showed a surplus of £3.7bn, much better than expected, in a timely boost for the UK economy.However, much of the surplus is down to January's income tax deadline payments, although discounting these still puts UK borrowing in line to come in under the government's target of £185.5bn for the financial year.Unfortunately for those of you looking to send

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-59787471521392732962011-02-20T23:25:00.002Z2011-02-20T23:33:34.289Z

This week's main news releases are likely to be the Bank of England minutes (Wednesday) and the second reading of UK GDP on Friday. For the latest news and exchange rates, call Currency Index on 0800 043 2623 (+44 1923 725725 from abroad).Monday 21stUSA Bank HolidayOvernight - UK Rightmove house price index0900 - Eurozone services & manufacturing PMITuesday 22nd0200 - New Zealand inflation

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-85869590803118665722011-02-14T11:47:00.002Z2011-02-14T12:00:03.089Z

We are due a lot of very important data this week, particularly on home soil where we have inflation, retail sales, unemployment, and a Bank of England speech on the inflation outlook. These are all potentially of great influence on the short term value of sterling.For the latest news and rates, please call us on 0800 043 2623 (+44 1923 725725 from overseas).Monday 14th1000 - Eurozone industrial

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-30166687773587490132011-02-09T16:19:00.003Z2011-02-09T16:29:23.249Z

The UK economy - and therefore sterling - has suffered a double blow today, as the CBI lowered its growth forecasts for the year to just 1.8%, and the trade gap widened to a new record high of £9.2bn in December.With the Bank of England unlikely to move interest rates tomorrow, based on the fragility of the recovery, there does not seem to be any good news for the Pound, which has dropped 0.6c

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-64391322227424664902011-02-07T11:27:00.002Z2011-02-07T11:37:38.707Z

Although we do not expect any major news such as an interest rate change from the Bank of England this week, there is plenty of data out in the UK and Eurozone which is likely to have an effect on exchange rates. With rates for buying Euros and Dollars currently enjoying some improvement, make sure you don't miss out on any opportunities to buy this week.Contact us at Currency Index for the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-65686041130973375582011-02-03T10:36:00.003Z2011-02-03T10:45:05.353Z

The Pound has enjoyed a strong start to the week, with this morning's PMI Services figures showing a pleasing return to growth in January.Added to yesterday's industrial figures, the gloom left by last week's disappointing GDP figures has been somewhat lifted.The Pound is now at its best level against the US Dollar for 3 months, and is also up against the Euro, which has been hit by the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-65985194988539982952011-02-01T11:43:00.002Z2011-02-01T11:47:17.020Z

This morning's manufacturing inflation data showed activity grew at its fastest pace since 1992 in January - and manufacturing employment also rose at its quickest pace since records began.Higher manufacturing inflation will theoretically lead to consumer inflation increasing - and therefore increase pressure on the Bank of England to increase interest rates which would be likely to increase the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-83281585223639235282011-01-31T11:11:00.003Z2011-01-31T11:17:43.605Z

This week we have the following news releases scheduled, all of which are potential influences on exchange rates. Contact us at Currency Index for the latest opinions & live trading rates for your own transaction.Monday 31st0700 - German retail sales (December)1330 - Canadian GDP (November); US personal income & expenditure (December)2230 - Australian manufacturing indexTuesday 1st0330 -

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-61609168202246305462011-01-28T10:53:00.003Z2011-01-28T10:58:16.587Z

This morning's UK consumer confidence survey has shown its biggest fall since 1992.Consumers are increasingly expecting a painful 2011, both in their own financial circumstances and the economy overall. With VAT up to 20% and negative growth, talk of a double-dip recession is increasing.This is all bad news for sterling, which is continuing to fall. Unless the Bank of England decides to raise

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-41951538880920481552011-01-26T09:47:00.003Z2011-01-26T09:51:22.589Z

This morning's Bank of England minutes showed that the MPC did consider an interest rate rise in January - and the Pound has recovered slightly this morning as a result.For the first time since rates were slashed to 0.5%, 2 of the 9 members voted for a 0.25% hike in rates. Higher interest rates would be likely to increase the value of sterling, and therefore improve exchange rates for sending

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-63856548244531342242011-01-25T09:37:00.002Z2011-01-25T09:40:33.130Z

The first estimate of GDP for Q4 2010 shows the UK economy shrank by 0.5% - much worse than analysts' expectations of a 0.5% growth figure.The Pound has fallen a cent against both the Euro and US Dollar this morning.Mervyn King's speech this evening is unlikely to help, with many observers thinking that the Bank of England will not raise interest rates for some time to come, so sterling does not

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-60016805579226802382011-01-24T09:27:00.002Z2011-01-24T09:45:21.322Z

This week's main UK data releases are GDP (Tuesday 0930), Mervyn King's speech (Tuesday 1940) and Wednesday's Bank of England minutes (Wednesday 0930).The Pound is vulnerable to any negative news, so any indications from the Bank of England that interest rates are not likely to be increasing in the short term, could bring exchange rates lower this week.Monday 24thNo major dataTuesday 25th0030 -

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-73873418142319247812011-01-21T14:46:00.004Z2011-01-21T14:49:35.791Z

Sterling has been held back today by poor retail sales and mortgage figures in the UK, which showed:- Only 40,000 new mortgages were approved in November- Retail sales fell 0.8% in December, and were flat for the yearAnalysts were hoping for a slight rise in retail sales, given the Christmas period, and for around 20% more mortgage approvals - both of which would have been indicators of better

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-27952963588817608852011-01-19T10:06:00.003Z2011-01-19T10:08:43.897Z

This morning's UK unemployment data showed a 49,000 rise to 2.5m at the end of November - although the official unemployment rate remains at 7.9%Some analysts are warning of a 'double dip' in unemployment, with the jobless total set to rise further in 2011 before improving.As unemployment is a key measure of the UK's economic recovery, the Pound can be affected. This morning we have seen a slight

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-60468808525364269352011-01-18T12:39:00.002Z2011-01-18T12:43:16.330Z

This morning's inflation figures showed an increase to 3.7% in December - the highest in 8 months.Sterling surged higher this morning, as analysts factored in an increased likelihood of interest rate rises, which are the Bank of England's main weapon against rising inflation.The Pound was up nearly a cent against both the US Dollar and Euro by 10am, although it has fallen back a little since.Note

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-74346541194822903062011-01-16T22:56:00.002Z2011-01-16T23:06:55.286Z

This week's economic data likely to affect exchange rates is listed below. Call Currency Index on 0800 043 2623 for the latest trading rates and opinions for your own overseas currency transfer.Monday 17thOvernight - Rightmove house price indexTuesday 18thOvernight - RICS house price balance & Nationwide consumer confidence0930 - UK CPI & RPI inflation1000 - German & Eurozone ZEW economic

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-56593641022088345122011-01-14T11:12:00.001Z2011-01-14T11:15:03.479Z

After yesterday's losses, sterling has recovered this morning after higher than expected producer inflation rasied the likelihood of interest rate rises in the UK sooner rather than later.Inflation is running well above target, and an interest rate rise would help to control it - as well as giving the Pound a boost.The Bank of England yesterday voted for interest rates to remain at 0.5%, but we

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-13252459171674664342011-01-13T16:33:00.002Z2011-01-13T16:36:26.571Z

The Euro strengthened (became more expensive) today as Spain and Italy held successful bond sales, easing fears of further financial difficulties in the Eurozone (see Reuters' article for more).As interest rates were held in the UK and Eurozone, USA inflation figures were weaker than expected - resulting in cheaper US Dollars and more expensive Euros this afternoon.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-40818589153177313542011-01-12T16:05:00.002Z2011-01-12T16:08:37.794Z

The Pound's recent run came to a halt this morning, as the UK's trade balance worsended slightly for November, compared to expectations of a slight improvement.Stronger than expected industrial production in the Eurozone and import figures in the USA have not helped exchange rates either.The Pound has recovered a little this afternoon however, and we now await tomorrow's round of interest rate

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-58539405233818110942011-01-11T08:52:00.002Z2011-01-11T08:56:04.170Z

So far in 2011 the Euro exchange rate has improved by over 3% - great news for those of you needing to send payments to Europe.A weaker Euro against the USD has also helped sterling, and with no fresh bad economic news out recently in the UK, we have seen a sharp spike in rates.Contact Currency Index for the latest rates available for your own transaction, whether for immediate transfer or fixed

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-88683190376039019282011-01-09T20:09:00.002Z2011-01-09T20:17:08.388Z

This week we have the following data due out, which may affect exchange rates:Monday 10th0030 - Australian retail sales trends1530 - Bank of Canada business outlook surveyTuesday 11thOvernight - British Retail Consortium retail sales monitor0030 - Australian trade balance1315 - Canadian housing startsWednesday 12thOvernight - UK consumer confidence0930 - UK trade balance (November)1330 - US

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-2643611786024399592010-12-20T09:39:00.002Z2010-12-20T09:47:00.356Z

This week looks fairly quiet for data, with the Christmas holiday approaching. We do however have a triple-whammy of important UK data on Wednesday morning, with the Bank of England minutes, GDP and current account all released at the same time.Given the Pound's volatility in recent weeks, contact Currency Index if you would like to be kept informed of any movement and opportunities to secure

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com1tag:blogger.com,1999:blog-4348239822771055307.post-81020749951575840342010-12-16T10:07:00.002Z2010-12-16T11:25:36.059Z

This morning's retail sales figures showed a 0.3% increase in November, broadly in line with expectations. October's figure was revised up to 0.3% from 0.1%, which improved the year-on-year figure further.The Pound gained a little strength on the release of the figures, although nothing like enough to counter the losses we have seen this week.UK consumer confidence is released overnight but there

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-4031566722525159972010-12-15T11:55:00.002Z2010-12-15T11:58:35.822Z

This morning's figures showed UK unemployment has risen to 2.5m - the first monthly rise for 6 months. The new number equates to an unemployment rate of 7.9%.As the Pound is so sensitive to any news around economic recovery, sterling has predictably been falling. We have lost nearly a cent against both the Euro and US Dollar.Tomorrow morning's retail sales data have the potential to bring

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-14489473282713641262010-12-14T14:52:00.003Z2010-12-14T15:01:11.248Z

Sterling has fallen across the board today, as a few neutral or negative UK data releases were accompanied by stronger figures in the Eurozone and USA.UK: CPI inflation as expected, house prices lower than expectedEurozone: economic sentiment better than expectedUSA: retail sales double expected growthThe net result has been a stronger (more expensive) Euro and US Dollar, with other currencies

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-62062669300147353672010-12-13T09:38:00.002Z2010-12-13T09:53:43.879Z

As 2010 draws to a close, this week sees the last round of inflation data from the UK, Europe and USA. Inflation is crucial as it dictates how much flexibility there is in an economy to change interest rates, which in turn are a major influence on exchange rates.This week may provide opportunities to buy before we enter the quieter Christmas period. Whatever your requirements for exchanging

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-19735212019096733592010-12-09T18:09:00.001Z2010-12-09T18:11:17.838Z

Currency Index were interviewed again on BBC One today, as the collapse of Crown Currency Exchange was investigated on the programme "Rip Off Britain". You can see the programme on the BBC iPlayer here.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-61254713375710812872010-12-09T14:13:00.003Z2010-12-09T14:16:58.159Z

The Bank of England left interest rates and quantitative easing on hold at its monthly policy meeting today, as expected.Elsewhere, the European Central Bank in its monthly report reduced its forecast for Eurozone growth next year, while maintaining that the single currency area is still on track for recovery. It added that current interest rates are appropriate, given the debt problems in some

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-14571877341688805082010-12-08T12:01:00.002Z2010-12-08T12:08:30.178Z

Rates for sending money abroad have improved across the board in the last 24 hours, after weak German trade balance data this morning helped to further weaken the Euro in particular.Tomorrow we have some more important announcements, all likely to affect rates: UK house prices and trade balance, along with the ECB monthly report and German CPI inflation.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com2tag:blogger.com,1999:blog-4348239822771055307.post-34519337741695475762010-12-06T09:54:00.002Z2010-12-06T10:16:05.064Z

If you need to send money to Egypt, Currency Index can now supply Egyptian Pounds for transfers at commercial rates.Contact us for a quote if you are buying property in Egypt, and see how much you can save compared to using your bank.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-70486055008120546432010-12-05T23:40:00.002Z2010-12-05T23:58:23.092Z

This week we have interest rate decisions in the UK, Australia, New Zealand and Canada, along with Quantitative Easing policy at the same time in the UK.Problems in the Eurozone continue to make the headlines, along with the prospect of further monetary easing in the USA. For the latest news and live exchange rates for your own transaction, contact Currency Index.Monday 6th0930 - Eurozone

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-30237644795537309782010-11-30T14:08:00.003Z2010-11-30T14:11:00.838Z

This morning's German unemployment figures have added to the problems in the Eurozone, with a recorded fall of 9,000 compared to expectations of 18,000. Unemployment in the Eurozone overall is now running at 10.1%.The Euro has weakened further (become cheaper) today while the US Dollar, which is mirroring the Euro's movements at the moment, has strengthened.For the latest rates please contact

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-87142302973719324442010-11-29T09:35:00.002Z2010-11-29T10:32:16.782Z

This week the main story is likely to be the continuing developments of the Irish bank bailout - and whether there will be any knock-on effects elsewhere in the Eurozone. For now the Euro has started to strengthen.Elsewhere we have economic releases in Australia, Canada, the USA and Switzerland, all likely to affect rates for sending money abroad. Contact your foreign exchange broker for the

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-89951687174250573292010-11-26T11:28:00.002Z2010-11-26T11:35:06.806Z

The Eurozone is urging Portugal to seek aid. Portugal’s bonds fell on concern they will follow Ireland and Greece and present a formal request to Europe's rescue fund, similar to that of Ireland earlier in the week.As a result the Euro has been slowly weakening (getting cheaper) this week, and we now have the best rates for sending Euro payments since mid-September. Conversely, investors are

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-41486910067099102972010-11-24T12:34:00.002Z2010-11-24T12:46:08.986Z

This morning's GDP figures showed a slight upward adjustment to previous figures for the third quarter of the year.The UK economy grew 0.8% in the 3 months to the end of September, or 2.8% in the 12 month period.Sterling gained slightly on the news, and with no more major UK data out this week, securing a rate for your overseas transfer now is looking reasonable.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-78110416621201875782010-11-23T17:10:00.002Z2010-11-23T17:18:58.011Z

The Euro has weakened significantly today, as the political problems in Ireland continue.The main move has been between the Euro and US Dollar, which has been back in demand as a "safe haven" currency.The result is something of a see-saw with the Pound stuck in the middle. We have improved rates for sending money in Euros, but worse rates for buying US Dollars.Tomorrow's UK GDP figures are likely

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-13107113445022798492010-11-22T09:46:00.002Z2010-11-22T10:01:33.952Z

The main release this week is the second estimate of Q3 GDP, which is published on Wednesday. Any downward adjustment in the UK's official growth figures would be likely to hurt sterling.We also have the breaking news of the EU bailout of the Irish economy. Although you might expect the Euro to weaken as a result, the UK is also likely to contributing billions via the EU, so the Pound is not

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-73955655778912294782010-11-18T16:40:00.002Z2010-11-18T16:45:44.313Z

Having fallen back yesterday, sterling has recovered somewhat today, despite public borrowing figures this morning being much worse than expected at £9.77bn for October.Retail sales figures were not so bad, and with the possibility of an Irish economic bailout looking more likely, the Euro is also struggling. Against the US Dollar, rates have also recovered, as volatility continues in fragile

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-91473248775716040962010-11-17T14:43:00.002Z2010-11-17T14:47:45.604Z

The Bank of England did not move nearer to further Quantitative Easing in their November meeting, according to their minutes released today.7 of the 9-strong committee voted for no change, with one voting for more QE, and one voting for an interest rate rise - exactly the same result as October.The Pound gained a small amount of value after the minutes were released.Meanwhile EU finance ministers

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-62857319281149679872010-11-16T16:25:00.002Z2010-11-16T16:35:05.520Z

This morning's UK inflation figures (3.2% for the previous 12 months) are again above the government's targets, forcing Bank of England Governer Mervyn King to write another explanatory letter to the Chancellor.While the figures are unlikely to spark any short-term interest rate rises, they should be viewed as sterling-positive. Unfortunately, half an hour after the announcement, Eurozone

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-2149114444568294452010-11-15T10:13:00.002Z2010-11-15T10:35:02.071Z

We have plenty of important data out this week which is likely to move exchange rates - including key inflation, unemployment and retail sales figures in the UK, as well as the all-important Bank of England minutes on Wednesday, which will reveal whether more Quantitative Easing was considered this month.With sterling still vulnerable to any negative news, speak with your Currency Index broker

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-52128624563130673622010-11-11T17:08:00.002Z2010-11-11T17:11:21.650Z

Rates for sending money in Euros are now at their best for 6 weeks, after the Bank of England inflation report was followed by news of economic woe in Spain (where growth is approaching zero) and Ireland which weakened the Euro.Worries about Quantitative Easing in the UK are now receding a little, although with 6 consecutive days of improvement in the Pound-Euro rate, there may be some

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-86602901457395660212010-11-10T16:38:00.002Z2010-11-10T16:48:43.095Z

This morning's Bank of England inflation report has given the Pound a timely boost, as Governer King took a neutral approach and did not mention further quantitative easing.Furthermore, with the outlook still likely to give high inflation in the coming months, there may even be talk of UK interest rate rises next year, depending on the stability of the recovery. The Bank do not see a significant

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0tag:blogger.com,1999:blog-4348239822771055307.post-67054301230276545242010-11-09T11:24:00.002Z2010-11-09T11:27:33.770Z

This morning's UK manufacturing data and trade balance have come out close to expectations, with no resulting effect on most exchange rates. Attention will now turn to tomorrow's inflation report at 10.30am.

Robin Hayneshttp://www.blogger.com/profile/05833675368198155995noreply@blogger.com0