USD/GBP Rate & Comments for 14th May 2010
USD/GBP - 1.458
Sterling fell yesterday against the US dollar and euro as the UK’s trade balance widened by more than expected. In March, the UK imported £6.3bn more than it exported and in April this gap increased by more than £1bn to £7.5bn. Exports remained steady and imports jumped, which disappointed the markets. Sterling is weak compared to most major currencies and the fact that this has not encouraged foreign investment into the UK is worrying, but also shows that global demand as a whole is weak. The ongoing saga in Greece could be blamed for a lack of demand for UK goods, but this is likely to continue as the Euro zone looks to curb spending and avoid debt default. Mervyn King hinted that the UK would benefit if Germany injected funds into the economy to encourage spending and ultimately boost UK exports. Elsewhere, the new government sent a clear message of its intentions to cut spending by cutting their own pay by 5% - frozen for 5 years. Whilst this saves roughly £3m (a drop in the ocean compared with the deficit) it is a clear message to the markets. So far, financial markets have welcomed the new coalition. Unfortunately, the pound is in a poor position. If the Greek crisis spreads further, we will effectively lose demand from a major marketplace for UK exporters. Out today we have no real data for the UK, but the currency traders will keep a close eye on David Cameron as he continues to forge ahead with plans for a ‘New Britain’. Call in now for a live exchange rate.
In the USA, unemployment claims fell by 4,000 last month, but this fell short of the expected 8,000 drop. Import prices showed a mild improvement on the month. One analyst made the bold prediction that the USD would strengthen against the euro and reach or go beyond the 1999 entry rate of $1.18/ 1 as European countries are not following budget deficit rules laid down by the Maastricht treaty. The euro’s status as an alternative to the US dollar is in doubt as a result. Out today we have retail sales data for the US which is expected to show a decline month on month. Get in touch now, as many are predicting lower than $1.40/£1 in the coming months.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Showing posts with label Greek debt. Show all posts
Showing posts with label Greek debt. Show all posts
Friday, 14 May 2010
Wednesday, 5 May 2010
USD/GBP Rate & Comments for 5th May 2010
USD/GBP - 1.513
Sterling had a mixed day yesterday falling to a 5 week low against the US dollar of $1.5090/ £1 and gaining against the euro to finish the day well above the 1.16/ £1 mark. The pound suffered over concerns that the crisis in Greece and subsequent bail out would spread to other countries. The FTSE stock market fell as bank shares suffered Greece related selling and mining companies fell as Australia announced a potential new tax on mining operations. This caused investors to sell the pound and buy US dollars. Lower than expected data on lending also added to sterling’s woes against the US currency as figures showed that month on month lending to individuals fell by £1.8bn and new mortgage approvals dropped by 3,000 on last month. Out today we have house price data from the Halifax and data on the construction sector. The election is still the biggest issue in the short term – call in now for a live exchange rate.
In the USA, the number of pending home sales rose by 5.3% - more than the 3.9% that was forecast and monthly factory orders unexpectedly showed a rise of 1.3%. This led to investors speculating that the US Federal reserve would look to raise interest rates much sooner than first thought, and prompted increased demand for the US dollar – especially when combined with the drop in sentiment in the Euro zone and concerns over a hung parliament in the UK. Get in touch now to avoid missing out as we could see the pound drop into the $1.40s against the US dollar again.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
USD/GBP - 1.513
Sterling had a mixed day yesterday falling to a 5 week low against the US dollar of $1.5090/ £1 and gaining against the euro to finish the day well above the 1.16/ £1 mark. The pound suffered over concerns that the crisis in Greece and subsequent bail out would spread to other countries. The FTSE stock market fell as bank shares suffered Greece related selling and mining companies fell as Australia announced a potential new tax on mining operations. This caused investors to sell the pound and buy US dollars. Lower than expected data on lending also added to sterling’s woes against the US currency as figures showed that month on month lending to individuals fell by £1.8bn and new mortgage approvals dropped by 3,000 on last month. Out today we have house price data from the Halifax and data on the construction sector. The election is still the biggest issue in the short term – call in now for a live exchange rate.
In the USA, the number of pending home sales rose by 5.3% - more than the 3.9% that was forecast and monthly factory orders unexpectedly showed a rise of 1.3%. This led to investors speculating that the US Federal reserve would look to raise interest rates much sooner than first thought, and prompted increased demand for the US dollar – especially when combined with the drop in sentiment in the Euro zone and concerns over a hung parliament in the UK. Get in touch now to avoid missing out as we could see the pound drop into the $1.40s against the US dollar again.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Friday, 30 April 2010
USD/GBP Rate & Comments for 30th April 2010
USD/GBP - 1.537
Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears over debt default in the euro region. Polls soon after last night’s final prime ministerial debate saw David Cameron emerge as the ‘winner’ of the debate, but concerns remain over a hung parliament as none of the parties have a clear majority. A poll of economists showed a 60% probability of a hung parliament – much higher than a month ago. Also yesterday, a Nationwide house price survey showed prices rise by 1.0%, which was slightly higher than expected. Yet again there is no data out today in the UK, but the pound is still likely to trade on sentiment in the final few days of campaigning. Get in touch now for a live price.
In the USA, unemployment claims for the month grew by 6,000 more than expected however the focus is on today’s market data. Out later we have the US first quarter GDP figures which are expected to show a rise of 4% as confidence has grown and economic data has improved. There is a lot of volatility in the market, so get in touch now for a live exchange rate.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
USD/GBP - 1.537
Sterling gained against the dollar and crept back against the euro as European officials stated that additional aid for Greece would be agreed soon. Sterling is trading at $1.5360/ £1 and 11.1560/£1. The prospect of an agreement on Greek aid helped stabilise market fears over debt default in the euro region. Polls soon after last night’s final prime ministerial debate saw David Cameron emerge as the ‘winner’ of the debate, but concerns remain over a hung parliament as none of the parties have a clear majority. A poll of economists showed a 60% probability of a hung parliament – much higher than a month ago. Also yesterday, a Nationwide house price survey showed prices rise by 1.0%, which was slightly higher than expected. Yet again there is no data out today in the UK, but the pound is still likely to trade on sentiment in the final few days of campaigning. Get in touch now for a live price.
In the USA, unemployment claims for the month grew by 6,000 more than expected however the focus is on today’s market data. Out later we have the US first quarter GDP figures which are expected to show a rise of 4% as confidence has grown and economic data has improved. There is a lot of volatility in the market, so get in touch now for a live exchange rate.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Thursday, 29 April 2010
USD/GBP Rate & Comments for 29th April 2010
USD/GBP - 1.522
Sterling fell yesterday against the US dollar following the fallout from the Greek debt crisis that caused investors to flee to safer assets. The UK came under renewed examination in the run up to the election as analysts predicted that the crisis over government debt could spread further.
With most opinion polls pointing to a hung parliament, the pound suffered as no party would currently have the majority to push through legislation to clear the UK’s record deficit. Despite speeches from the Liberal Democrats over a ‘balanced government,’ or a coalition, markets like certainty and strong decisive government.
The pound hit a 3 week low of $1.5129/ £1 before recovering slightly towards the end of the day. Sterling stayed in a narrow range against the euro throughout yesterday but has dropped this morning after Spain suffered a credit downgrading. Further issues were caused by Gordon Brown’s shocking gaffe on the campaign trail.
There was no data out in the UK yesterday – out today, we have a house price report from the Nationwide which is expected to show a mild decline in the rate of growth in house prices. There is also the final prime ministerial debate tonight which could see more instability. Call in now on 0207 898 0549 for a live exchange rate as they are moving around quite a bit.
In the USA, the US dollar is still the gauge of global opinion towards risk in the economy. As a result, following yesterday’s issues in the euro zone many investors fled from UK investments to the US and as a result, the Dow Jones stock market in the USA closed higher yesterday. There is US unemployment data out today. Call in today on 0207 898 0549 for a live exchange rate.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
USD/GBP - 1.522
Sterling fell yesterday against the US dollar following the fallout from the Greek debt crisis that caused investors to flee to safer assets. The UK came under renewed examination in the run up to the election as analysts predicted that the crisis over government debt could spread further.
With most opinion polls pointing to a hung parliament, the pound suffered as no party would currently have the majority to push through legislation to clear the UK’s record deficit. Despite speeches from the Liberal Democrats over a ‘balanced government,’ or a coalition, markets like certainty and strong decisive government.
The pound hit a 3 week low of $1.5129/ £1 before recovering slightly towards the end of the day. Sterling stayed in a narrow range against the euro throughout yesterday but has dropped this morning after Spain suffered a credit downgrading. Further issues were caused by Gordon Brown’s shocking gaffe on the campaign trail.
There was no data out in the UK yesterday – out today, we have a house price report from the Nationwide which is expected to show a mild decline in the rate of growth in house prices. There is also the final prime ministerial debate tonight which could see more instability. Call in now on 0207 898 0549 for a live exchange rate as they are moving around quite a bit.
In the USA, the US dollar is still the gauge of global opinion towards risk in the economy. As a result, following yesterday’s issues in the euro zone many investors fled from UK investments to the US and as a result, the Dow Jones stock market in the USA closed higher yesterday. There is US unemployment data out today. Call in today on 0207 898 0549 for a live exchange rate.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Tuesday, 27 April 2010
USD/GBP Rate & Comments for 27th April 2010
USD/GBP - 1.538
Sterling matched the highest level of the year against the euro yesterday as Greek debt uncertainty caused the euro to suffer. The pound hit 1.1620/ £1 in early trading yesterday (matching a 5 month high last seen in January) as the latest opinion polls showed the Conservatives winning a majority at the election in 10 days time and avoiding the dreaded hung parliament that has caused so much downward movement of sterling since the beginning of 2010. There was no data out yesterday aside from some house price data, so sterling benefited from better sentiment towards the UK. Out today, there is data on consumer spending which has the potential to cause volatility. Call in now to avoid the market moving against you as this is relative to the first 5 months of the year a great time to buy euros.
In the USA, there was no data out yesterday and the pound reached a high of $1.5496/ £1 as sentiment towards the UK improved following the poll results and poor market reaction to European news. The sterling/ US dollar price is currently a clear indicator of market feeling towards the UK. Upwards of $1.54/ £1 and feeling is good, down towards $1.50/ £1 and sentiment is poor. The volatility has been high over the last few weeks. Any news that could be perceived as negative can cause the price to drop rapidly. Call in now to take advantage of prices whilst they are good.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
USD/GBP - 1.538
Sterling matched the highest level of the year against the euro yesterday as Greek debt uncertainty caused the euro to suffer. The pound hit 1.1620/ £1 in early trading yesterday (matching a 5 month high last seen in January) as the latest opinion polls showed the Conservatives winning a majority at the election in 10 days time and avoiding the dreaded hung parliament that has caused so much downward movement of sterling since the beginning of 2010. There was no data out yesterday aside from some house price data, so sterling benefited from better sentiment towards the UK. Out today, there is data on consumer spending which has the potential to cause volatility. Call in now to avoid the market moving against you as this is relative to the first 5 months of the year a great time to buy euros.
In the USA, there was no data out yesterday and the pound reached a high of $1.5496/ £1 as sentiment towards the UK improved following the poll results and poor market reaction to European news. The sterling/ US dollar price is currently a clear indicator of market feeling towards the UK. Upwards of $1.54/ £1 and feeling is good, down towards $1.50/ £1 and sentiment is poor. The volatility has been high over the last few weeks. Any news that could be perceived as negative can cause the price to drop rapidly. Call in now to take advantage of prices whilst they are good.
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
Friday, 23 April 2010
USD/GBP Rate & Comments for 23rd April 2010
USD/GBP - 1.538
Sterling hit a 12 week high of 1.1583/ £1 against the euro yesterday and has briefly broken through the 1.16/ £1 this morning - buoyed by better than expected data on UK public finances and euro weakness related to the Greek debt crisis. UK public sector borrowing was better than expected, despite the fact that the UK’s deficit is the highest since World War II. Retail sales data came in slightly worse than expected at 0.4% on an expectation of 0.6%, but had little effect on the pound. With political uncertainty still rife in the run up to the May 6th election, all eyes were on last night’s second prime ministerial debate. The debate was a lot more evenly matched and initial polls had David Cameron as the winner of the debate. Out today we have the first estimate of GDP data, which is expected to show that the UK economy grew at a rate of 0.4% in the 1st Quarter. This week demonstrates why it is so important to be registered with a currency specialist. We saw the pound jump up by half a cent over the course of 15 minutes before dropping back down shortly after. Registered clients were able to take advantage straight away rather than trying to set up an account, which by the time it was open was too late to get the price they wanted. Call in today for a price and to talk to a currency specialist about how to avoid losing out on favourable rates.
In the USA, the number of people claiming unemployment benefits dropped by 24,000 – about 4,000 short of what was expected. This saw the US dollar strengthen marginally against the pound, finishing the day 0.2% up at $1.5370/ £1. Following the events in the Euro zone the US dollar strengthened 0.6% and finished the day close to the $1.33/ £1 mark. Out today, there is data on durable goods orders and new home sales. Call in now to avoid the market adversely moving against you. Have a fantastic weekend in the sunshine (hopefully…)
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
USD/GBP - 1.538
Sterling hit a 12 week high of 1.1583/ £1 against the euro yesterday and has briefly broken through the 1.16/ £1 this morning - buoyed by better than expected data on UK public finances and euro weakness related to the Greek debt crisis. UK public sector borrowing was better than expected, despite the fact that the UK’s deficit is the highest since World War II. Retail sales data came in slightly worse than expected at 0.4% on an expectation of 0.6%, but had little effect on the pound. With political uncertainty still rife in the run up to the May 6th election, all eyes were on last night’s second prime ministerial debate. The debate was a lot more evenly matched and initial polls had David Cameron as the winner of the debate. Out today we have the first estimate of GDP data, which is expected to show that the UK economy grew at a rate of 0.4% in the 1st Quarter. This week demonstrates why it is so important to be registered with a currency specialist. We saw the pound jump up by half a cent over the course of 15 minutes before dropping back down shortly after. Registered clients were able to take advantage straight away rather than trying to set up an account, which by the time it was open was too late to get the price they wanted. Call in today for a price and to talk to a currency specialist about how to avoid losing out on favourable rates.
In the USA, the number of people claiming unemployment benefits dropped by 24,000 – about 4,000 short of what was expected. This saw the US dollar strengthen marginally against the pound, finishing the day 0.2% up at $1.5370/ £1. Following the events in the Euro zone the US dollar strengthened 0.6% and finished the day close to the $1.33/ £1 mark. Out today, there is data on durable goods orders and new home sales. Call in now to avoid the market adversely moving against you. Have a fantastic weekend in the sunshine (hopefully…)
Exchange rates change every second - call Smart Currency Exchange for a live up-to-the-minute quote. For individual requirements, visit the SmartCurrencyExchange.com website and for companies visit the SmartCurrencyBusiness.com website.
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