FX News
Looking to gain that extra insight into the FX markets? Every morning our team hunts down the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
Check out our blog every morning to see the latest news that will affect your currency transfer rate, so you know what to expect over the coming day/week.
EU leaders managed to agree to set up the €500 billion European Stability Mechanism (ESM) fund overnight while pushing through the fiscal compact (despite the UK and the Czech Republic not ratifying the agreement), but there is still little sign of progress on the second Greek bailout.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
The European leaders meet yet again today to try and agree on the new fiscal compact agreement and to set up the new €500 billion European Support Mechanism. We’ll no doubt see European leaders insisting on further commitments from the Greek government in exchange for a another bailout package.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
This morning the Euro has fallen against the Pound as the news from the Portuguese bond market was released. The 10-year bond yield has hit a new high at 15.25%, with investors growing their concerns on a possible contagion. Many analysts believe Portugal will need a second bailout.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
Equity markets are broadly higher this morning with investors seeming taking some comfort from the Fed‟s decision to hold interest rates at „exceptionally low levels‟ until the end of 2014 rather than mid-2013. Although interest rates are now on hold for longer, the decision looks to have slightly pushed back expectations...
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
Big events of the day are the release of the Bank of England (BoE) minutes from their last rate decision meeting, which have already been released. UK GDP figures for Q4 2011 and the US interest rate decision this evening (UK time).
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
GBP/EUR has regained some ground after the increment to £10.8bn in the UK’s Public Sector net Borrowing in December, coming in lower than expectations (£12.2bn). The UK budget deficit in December rose to £13.7bn against a forecasted £14.9bn.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
The Chinese lunar New Year holiday has effectively shut down most of the Asian stock markets today, which could be seen as a positive given the ongoing failure of Greek debt restructuring talks. Discussions are believed to have failed over the weekend, but there is due to be a teleconference...
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
Having European markets open on a firmer footing after a positive Asian session following slightly stronger than expected Chinese GDP, retail sales and industrial production data. GDP expanded by 2% quarter-on-quarter and 8.9% year-on-year against consensus annual forecasts of 8.7%. This was the slowest pace of growth in over two years.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
Cynics might argue that S&P’s ratings changes are generally announced on a Friday night to secure maximum publicity over a whole weekend. The agencies themselves argue that the timetable is designed to minimize market disruption and to allow analysts and investors to reflect on fresh information and prevent disorderly market conditions.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
Stock markets rallied this morning as central banks stood pat yesterday and ECB President Draghi tried to boost confidence in the Eurozone. Euro-dollar rallied to $1.2870 in early trading before falling back and the dearth of data this morning should be supportive for the single currency.
VIEW FULL ARTICLEPosted in Daily Market News on May 30 2014 by alex
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