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.
Friday’s release of US GDP for the first three months of this year provided substantial evidence that the momentum in the economy has slowed since the beginning of the year. Markets had been expecting growth at 2.5%, however, the release was disappointing at 2.2% quarter-on-quarter annualised.
VIEW FULL ARTICLEThe euro slipped to $1.3160 against the US dollar this morning, marking a 1¢ loss from yesterday. GBP/EUR fell to £1.2285, reaching a low last seen in June 2010. The euro looks set to remain on the defensive ahead of this morning’s Italian bond auction.
VIEW FULL ARTICLEYesterday’s poor UK GDP number failed to materially affect Sterling. An initial correction was clear, nonetheless short lived. Cable (GBP/USD) retraced to the 1.6080 level but find itself at 1.6180 this morning. Against the euro sterling, lost a lot more ground initially, a consequence of GDP data coupled with overall...
VIEW FULL ARTICLEDomestically, a big day lies ahead with the release of UK Q1 GDP data. The market is split on the outlook for growth. The consensus forecast is for the economy to grow by 0.1% on the quarter, but amongst that distribution is a range from -0.3% to +0.4% which shows...
VIEW FULL ARTICLEShort and sweet, we find ourselves in much the same position as yesterday; The Netherlands’ AAA rating now apparently under threat after the government collapsed due to an inability to agree to austerity measures. GBP/EUR is trading around 1.2255 having tested 1.2270 overnight.
VIEW FULL ARTICLEAlthough the IMF managed to extract an additional $430 billion in funding during the IMF / World Bank Spring Meetings, this reflects a small climb down from the original target of $600 billion. The US still refuses to contribute additional money and there were a series of comments from non-European...
VIEW FULL ARTICLEFocus will be on today’s (and through the weekend) IMF/World Bank/G-20 Finance ministers and Central Bankers meeting in Washington with the core discussions likely to centre on the ongoing eurozone crisis. Yesterdays Spanish bond auctions did little to change the mood of the market and the overnight price action suggests...
VIEW FULL ARTICLEHaving fallen below 1.2200 for the first time in 19 months GBP/EUR continued to ease overnight, trading initially around 1.2225 before improving to 1.2250 ahead of the London open. The move reflected general sterling strength with cable rising from $1.59 to $1.6050. Euro-dollar traded in a narrow range around $1.3120 overnight.
VIEW FULL ARTICLESpanish 10-year yields fell back below 6% yesterday and have eased lower to 5.817% this morning. There have been a number of speeches from Spanish officials overnight and this morning commenting on the fact that Spain’s fiscal deficit reduction targets should change market perception.
VIEW FULL ARTICLEThe markets remained focus on the Eurozone yesterday as stresses intensified around the sovereign debt market.
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