The final revision to Q4 GDP in the UK has been released - and shows a slight improvement on last month's estimate.
For 2009, the economy shrank by 3.1%, compared to the previous estimate of 3.3%.
The Pound has taken some strength from the news, which also confirmed the UK exited recession at the end of 2009. Exchange rates for sending money abroad have improved across the board this morning.
CurrencyIndex.co.uk
Foreign Currency Exchange Specialists
Tuesday, 30 March 2010
Monday, 29 March 2010
This week's currency update
After last week's budget, we return to the usual weekly data this week, which includes a mix of figures due to be released from around the world which are likely to affect exchange rates.
With the Easter weekend coming up, do speak to Currency Index before Friday if you would like an update on the latest news and some guidance on your currency transfers.
Monday 29th
0930 - UK mortgage approvals
1000 - Eurozone consumer confidence
1330 - US personal income & consumption
Tuesday 30th
0930 - UK current account
1500 - US consumer confidence
Wednesday 31st
Overnight - UK consumer confidence
0130 - Australian retail sales
0300 - New Zealand business confidence
1000 - Eurozone CPI inflation & unemployment rate
1330 - Canadian GDP
1500 - US factory orders
Thursday 1st
0130 - Australian trade balance
0900 - Eurozone manufacturing data
0930 - UK manufacturing data
1330 - US jobless claims
1500 - US manufacturing figures
Friday 2nd
Bank holiday (Good Friday)
1330 - US non-farm payrolls, hourly earnings and unemployment rate
With the Easter weekend coming up, do speak to Currency Index before Friday if you would like an update on the latest news and some guidance on your currency transfers.
Monday 29th
0930 - UK mortgage approvals
1000 - Eurozone consumer confidence
1330 - US personal income & consumption
Tuesday 30th
0930 - UK current account
1500 - US consumer confidence
Wednesday 31st
Overnight - UK consumer confidence
0130 - Australian retail sales
0300 - New Zealand business confidence
1000 - Eurozone CPI inflation & unemployment rate
1330 - Canadian GDP
1500 - US factory orders
Thursday 1st
0130 - Australian trade balance
0900 - Eurozone manufacturing data
0930 - UK manufacturing data
1330 - US jobless claims
1500 - US manufacturing figures
Friday 2nd
Bank holiday (Good Friday)
1330 - US non-farm payrolls, hourly earnings and unemployment rate
Thursday, 25 March 2010
Budget holds no surprises
Yesterday's budget has had very little impact on exchange rates, given Alistair Darling's cautious approach and the lack of any real economic change.
This morning we saw UK retail sales figures come out slightly better than expected, which has boosted the Pound somewhat. Exchange rates for sending money abroad are generally better than earlier in the week, with no major UK data due out before the weekend.
This morning we saw UK retail sales figures come out slightly better than expected, which has boosted the Pound somewhat. Exchange rates for sending money abroad are generally better than earlier in the week, with no major UK data due out before the weekend.
Tuesday, 23 March 2010
Inflation as predicted
This morning's UK inflation figures have come out slightly below expectations, with very little impact on the Pound and exchange rates.
Attention now turns to tomorrow's Budget - will Chancellor Darling give any reason for optimism in his measures tomorrow?
Attention now turns to tomorrow's Budget - will Chancellor Darling give any reason for optimism in his measures tomorrow?
Monday, 22 March 2010
This week's currency news
This week we have the UK budget on Wednesday - analysts will be looking to interpret the government's plans with a likely knock-on effect for the Pound.
Other data releases due this week and likely to influence exchange rates are as follows:
Monday 22nd
1530 - Bank of England Governer King's speech
1530 - European Central Bank President Trichet's speech
2030 - US Treasury Geithner's speech
Tuesday 23rd
0930 - UK CPI & RPI inflation
1400 - US homes sales
Wednesday 24th
UK Budget
0100 - New Zealand consumer confidence
0900 - German business climate survey
1230 - US durable goods orders
1400 - US new home sales
2145 - New Zealand GDP
Thursday 25th
0930 - UK retail sales
1230 - US jobless claims
2245 - New Zealand trade balance
Friday 26th
1330 - US GDP & personal consumption
Other data releases due this week and likely to influence exchange rates are as follows:
Monday 22nd
1530 - Bank of England Governer King's speech
1530 - European Central Bank President Trichet's speech
2030 - US Treasury Geithner's speech
Tuesday 23rd
0930 - UK CPI & RPI inflation
1400 - US homes sales
Wednesday 24th
UK Budget
0100 - New Zealand consumer confidence
0900 - German business climate survey
1230 - US durable goods orders
1400 - US new home sales
2145 - New Zealand GDP
Thursday 25th
0930 - UK retail sales
1230 - US jobless claims
2245 - New Zealand trade balance
Friday 26th
1330 - US GDP & personal consumption
Thursday, 18 March 2010
Public borrowing not as bad as expected
Public borrowing for February came in at £12.4bn - not as bad as economists had predicted (£14bn) and after yesterday's unemployment figures were also better than expected, the Pound has gained some strength from the first positive signs in the economy for some time.
With no major data out in the UK tomorrow, there may be an opportunity to secure better exchange rates over the next 24hrs for any payments you need to send abroad.
With no major data out in the UK tomorrow, there may be an opportunity to secure better exchange rates over the next 24hrs for any payments you need to send abroad.
Wednesday, 17 March 2010
Unemployment figures boost Pound
This morning's UK unemployment figures have come in much better than expected - giving sterling a much-needed boost.
With public borrowing numbers due out tomorrow morning, today could be an opportunity to secure your exchange rate for sending foreign currency.
Please contact Currency Index if you would like to discuss your options.
With public borrowing numbers due out tomorrow morning, today could be an opportunity to secure your exchange rate for sending foreign currency.
Please contact Currency Index if you would like to discuss your options.
Tuesday, 16 March 2010
Data out today and tomorrow
A busy couple of days ahead, with plenty of data releases likely to affect commercial exchange rates:
Tuesday 16th
0030 - Reserve Bank of Australia minutes
0930 - UK DCLG House Price Index
1000 - Eurozone CPI inflation & German ZEW survey
1230 - US Housing Starts & Import Price Index
1815 - Federal Reserve US interest rate decision
Wednesday 17th
0930 - UK average earnings, unemployment data & Bank of England minutes
1230 - US PPI inflation
Tuesday 16th
0030 - Reserve Bank of Australia minutes
0930 - UK DCLG House Price Index
1000 - Eurozone CPI inflation & German ZEW survey
1230 - US Housing Starts & Import Price Index
1815 - Federal Reserve US interest rate decision
Wednesday 17th
0930 - UK average earnings, unemployment data & Bank of England minutes
1230 - US PPI inflation
Wednesday, 10 March 2010
Industrial Production Falls
This morning's UK industrial production data has come in worse than expected, in a new blow to anybody needing to send funds abroad.
January's figures showed a 0.9% contraction in manufacturing compared to December, against an expected growth of 0.3%.
January's figures showed a 0.9% contraction in manufacturing compared to December, against an expected growth of 0.3%.
Tuesday, 9 March 2010
This week's economic news
After very little economic data out yesterday, some news coming out for the rest of this week which is likely to affect exchange rates:
Tuesday 9th
Overnight - UK RICS house price balance
0815 - Swiss CPI
0930 - UK trade balance
2330 - Australian consumer confidence
Wednesday 10th
0930 - UK industrial production
1900 - US monthly budget statement
2000 - New Zealand interest rate decision
Thursday 11th
0030 - Australian unemployment rate
0900 - European Central Bank monthly report
1300 - Swiss interest rate decision
1330 - US trade balance
2145 - New Zealand retail sales
Friday 12th
1000 - Eurozone industrial production
1200 - Canadian unemployment rate
1330 - US retail sales figures
Tuesday 9th
Overnight - UK RICS house price balance
0815 - Swiss CPI
0930 - UK trade balance
2330 - Australian consumer confidence
Wednesday 10th
0930 - UK industrial production
1900 - US monthly budget statement
2000 - New Zealand interest rate decision
Thursday 11th
0030 - Australian unemployment rate
0900 - European Central Bank monthly report
1300 - Swiss interest rate decision
1330 - US trade balance
2145 - New Zealand retail sales
Friday 12th
1000 - Eurozone industrial production
1200 - Canadian unemployment rate
1330 - US retail sales figures
Wednesday, 3 March 2010
Pound steadies as attention turns to Bank of England
The sell-off of sterling seems to have abated - but for how long? Tomorrow the Bank of England announce whether there will be any extension to quantitative easing.
If more money is injected into the economy, the Pound is likely to fall further as this would be seen as a negative sign regarding the UK's economic recovery.
For now, exchange rates are relatively stable so if you need to make overseas money transfers do consider your options prior to the Bank's announcement tomorrow lunch time.
If more money is injected into the economy, the Pound is likely to fall further as this would be seen as a negative sign regarding the UK's economic recovery.
For now, exchange rates are relatively stable so if you need to make overseas money transfers do consider your options prior to the Bank's announcement tomorrow lunch time.
Tuesday, 2 March 2010
Australian Dollar at 25 year high
Anyone emigrating this year and sending money to Australia should be aware that the Australian Dollar rates is now at its most expensive for 25 years, as the Australian economy goes from strength to strength relative to the UK.
Last night the Reserve Bank of Australia increased interest rates to 4%, which stimulates investor demans and makes the Dollar more expensive still.
If you are worried about falling exchange rates, don't forget you can fix a rate up to 2 years ahead without having all your sterling available. Call Currency Index for details.
Last night the Reserve Bank of Australia increased interest rates to 4%, which stimulates investor demans and makes the Dollar more expensive still.
If you are worried about falling exchange rates, don't forget you can fix a rate up to 2 years ahead without having all your sterling available. Call Currency Index for details.
Monday, 1 March 2010
Euro rate dips below €1.10
The rate for buying Euros has dropped below €1.10 this morning amid frenzied selling off of the Pound, following speculation that the forthcoming General Election could result in a hung parliament on top of further economic worries regarding the UK's credit and economic recovery.
This week's currency update
The Pound remains under sever pressure this week after Friday's disappointing revision to GDP - althouth the headlines reported an improvement to the Q4 figure, the government actually revised the annual growth number DOWN resulting in a broad sterling sell-off.
Exchange rates have fallen significantly against all major currencies.
This week, the following data will be of interest:
Monday 1st
0900 Eurozone PMT inflation
0930 UK mortgage approvals
1000 Eurozone unemployment rate
1330 Canadian GDP
1330 US personal consumption & spending
Tuesday 2nd
0330 Australian interest rate decision
0645 Swiss GDP
1400 Canadian interest rate decision
Wednesday 3rd
0030 Asutralian GDP
0700 German retail sales
1000 Eurozone retail sales
Thursday 4th
0030 Australian trade balance
1000 Eurozone GDP
1200 Bank of England interest rates & quantitative easing
1245 Eurozone interest rate decision
1330 US jobless claims
Friday 5th
1330 US average earnings, non-farm payrolls & unemployment rate
Exchange rates have fallen significantly against all major currencies.
This week, the following data will be of interest:
Monday 1st
0900 Eurozone PMT inflation
0930 UK mortgage approvals
1000 Eurozone unemployment rate
1330 Canadian GDP
1330 US personal consumption & spending
Tuesday 2nd
0330 Australian interest rate decision
0645 Swiss GDP
1400 Canadian interest rate decision
Wednesday 3rd
0030 Asutralian GDP
0700 German retail sales
1000 Eurozone retail sales
Thursday 4th
0030 Australian trade balance
1000 Eurozone GDP
1200 Bank of England interest rates & quantitative easing
1245 Eurozone interest rate decision
1330 US jobless claims
Friday 5th
1330 US average earnings, non-farm payrolls & unemployment rate
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